2024-07-03 09:46:52
Mustafa Abu Fanas, Chairman of the Board of Directors of the Libya Africa Investment Portfolio, held a meeting at the Portfolio’s headquarters in Tripoli with Khalifa Al-Shaibani, Chairman of the Board of Directors of the Portfolio’s Joint Libyan Oil Company.
According to the official Facebook page of the portfolio, the meeting comes within the framework of the interest and follow-up of the Libya Africa Investment Portfolio for its affiliated companies.
The meeting reviewed a number of aspects related to the company’s activity, especially with regard to following up on the implementation of the joint Libya Oil Rehabilitation and Development Agreement signed between it and Oula Energy Company under the auspices of the portfolio, which includes rebuilding a number of fuel distribution stations, supplying new traction heads and pumps, and implementing programs to rehabilitate and raise the efficiency of the company’s employees.
During the meeting, the steps taken by the company to contract with a specialized company to introduce an electronic payment card system were reviewed. This step comes within the framework of working with the latest technologies to follow up on fuel transportation and distribution operations, monitor inventory at stations, and monitor sales according to a very modern technical system.
The meeting also discussed the implementation of the company’s board of directors’ plans to increase the company’s revenues, such as supplying and marketing various engine oils, and manufacturing bitumen due to the local market’s need for it to implement road projects in the country.
The Chairman of the Board of Directors of the Portfolio stressed the unlimited support for the company in order for the Libyan Joint Oil Company to excel in the local market, and to provide services to users such as health insurance services that began operating since the last quarter of last year.
In turn, the Chairman of the Board of Directors of the company confirmed their determination to guarantee the rights of users according to the available capabilities, and to commit to completing the closing of the delayed final accounts, and to redeveloping the company’s internal regulations and systems, after the approval of the company’s modern organizational structure during the last meeting of the company’s Board of Directors.
At the end of the meeting, the Chairman of the Board of Directors of the Portfolio stressed the importance of holding periodic meetings in order to stand and help overcome difficulties, and to ensure the progress of work in the company and the companies affiliated with the Portfolio.
It is noteworthy that the Libyan Joint Oil Company is a company owned by both the Libya Africa Investment Portfolio with a share of 55% and the First Energy Company with a share of 45%.
The Board of Directors of the Libya Africa Investment Portfolio is currently headed by Mustafa Abu Fanas, the former Minister of Economy, who was appointed by the Prime Minister of the Government of National Unity, Abdul Hamid Dabaiba, to carry out decisive reforms in the Libya Africa Portfolio to achieve progress towards the goals of economic and investment sustainability and contribute to deepening Libya’s impact and role in the African scene.
Libya Africa Investment Portfolio was established in 2006. The portfolio works in the field of international investment, searching for investment opportunities and building a diversified and balanced portfolio that includes companies operating in various industries and regions, in addition to achieving long-term and sustainable returns.
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2024-07-03 09:46:52