SOFAZ starts investing in Africa

At the end of 2021, the share of European countries in the investment portfolio of the State Oil Fund of Azerbaijan (SOFAZ) amounted to 28.2%, 1.06 percentage points less than in 2020, Report informs, citing the Fund.

The share of Asia-Pacific countries changed from 23.48% to 21.6% during the year, North America from 24.96% to 29.3%, Australia and New Zealand from 1.16 to 1%, the Middle East region from 1.09% to 0.7%, and the South American region from 0.04% to 0.1%. Meanwhile, Africa accounted for 0.1% of the investments.

Last year, the share of developed countries in SOFAZ investments rose from 59.26% to 60.6%, the developing countries fell from 20.73% to 20.3%, and the international financial institutions increased from 5.85% to 6%.

Gold accounted for 13.1%, while this figure was 14.16% a year ago.