LAIP seeks to reclaim major agricultural investment in Guinea​​​​​​​​​​​​​​​​

A high-level Libyan delegation has arrived in Conakry, Guinea, to negotiate the recovery of one of West Africa’s largest fruit farms, marking a significant step in Libya’s efforts to reclaim frozen assets abroad.

The delegation, led by Youth Minister and Prime Minister’s Special Envoy to Africa Fathallah Al-Zani, includes key figures from the Libya Africa Investment Portfolio (LAIP), notably ChairmanMustafa Abufanas and LAICO General Manager Mohammed Mahjoub.

LAIP, established in 2006, manages Libya’s strategic investments across Africa with an estimated portfolio value of several billion dollars. The fund emerged as part of Libya’s broader strategy to diversify its oil-dependent economy and strengthen diplomatic ties through economic partnerships.

Its investments span multiple sectors, including agriculture, hospitality, telecommunications, and real estate across more than 25 African nations.

At stake in Guinea is a 2,150-hectare agricultural complex specialised in mango and pineapple production, complete with a juice processing facility and seven water reservoirs.

The property was seized in 2020 by presidential decree under the previous Guinean administration, but a recent Supreme Court ruling has invalidated this decision.

During initial talks with Guinean Youth Minister François Bougola, both parties outlined their positions on the asset’s future. The meeting included diplomatic representatives from both nations and Libyan financial oversight officials.

The mission reflects broader efforts by Libya’s Government of National Unity to resolve outstanding investment disputes across Africa.

Following years of political instability in Libya, LAIP has intensified its efforts to protect and recover assets that were frozen or compromised during the period of unrest.

The fund’s current strategy focuses on rehabilitating existing investments while seeking new opportunities in promising African markets.

A business analyst told Libyan Express that the case has the potential to set a significant precedent for the protection of Libyan investments in West Africa.

The timing of these negotiations is particularly significant as both nations seek to strengthen economic ties and restore confidence in cross-border investments.

For LAIP, success in this case strengthens its position as a major player in African investment and demonstrates its ability to navigate complex political and legal challenges.