SOFAZ withdraws its investments from Africa

In the third quarter of 2022, the State Oil Fund of Azerbaijan withdrew its investments from Africa, Report informs, citing the fund.

At the end of the second quarter, these investments accounted for 0.1% (about $45 million) of SOFAZ's portfolio.

In January-September 2022, the share of European countries in the investments of the Oil Fund was 29.2%, and the Asia-Pacific region was 20.2%.

These figures were 30.02% and 21.23%, respectively, in the first 9 months of 2021.

The share of North America increased from 26.71% to 30.7%, Australia and New Zealand decreased from 1% to 0.8%, the Middle East dropped from 0.68% to 0.4%, and the South American region increased from 0.04% to 0.1%.

During January-September 2022, the share of developed countries in SOFAZ investments increased from 59.86% to 61.1%.

During this period, the share of developing countries increased from 19.82% to 20.3%, while international financial organizations decreased from 7.51% to 6.6%.