Norway fund unlikely to invest in ‘risky’ African infrastructure projects
The fund is likely to stay clear of unlisted renewable energy and infrastructure projects because of ‘large political risks’ and increasing cases of corruption, says Norwegian legislator
Oslo — Environmental activists hoping to see a big push by Norway’s $890bn sovereign wealth fund into emerging market renewable energy and infrastructure projects are likely to be disappointed, according to a key Norwegian legislator. The government and parliament will review later this year whether to allow the fund to expand into infrastructure. But the conservative nature of the oversight framework will likely mean that it will not get too adventurous in where it puts its cash even if it gains more freedom, which the fund has also indicated. "The signals are clear that we won’t start with African solar energy if we open up to infrastructure," Marianne Marthinsen, the Labour Party’s spokeswoman on fiscal policy and member of the finance committee, said in an interview. "The NGO community is very keen on opening for unlisted and infrastructure so it’s probably not huge investments in German airports that it envisages, but that’s what can be the result — at least to start." Environm...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.