Date: 14 Apr, 2025
Location: Kuwait - State of Kuwait
The Board of Shareholders of the Arab Authority for Agricultural Investment and Development (AAAID) held its 49th annual meeting in Kuwait City on Wednesday, April 9, 2025, as part of the joint annual meetings of Arab financial institutions, chaired by His Excellency Mr. Sid’Ahmed Ould Bouh. The Minister of Economy and Finance of the Islamic Republic of Mauritania, in the presence of His Excellency Dr. Obaid Saif Hamad Al Zaabi, Chairman of the Board of AAAID, Their Excellencies and Highnesses the members of the Board, and representatives of Arab financial institutions.
The meeting began with a speech by His Excellency the Chairman of the Shareholders’ Council, Mr. Sid’Ahmed Ould Bouh, in which he expressed his deep gratitude to the State of Kuwait, both government and people, for their generous hospitality and warm welcome. He emphasized the need to intensify Arab efforts to address the worsening food gap, which has reached approximately 49%. $5 billion, according to the 2024 Unified Arab Economic Report.
For his part, Chairman of the Board of AAAID, His Excellency Dr. Obaid Saif Hamad Al Zaabi, reviewed AAAAID’s most prominent achievements in 2024, noting that AAAID’s direct investments amounted to 92% of its paid-up capital, and that these investments are distributed across four main sectors: Agricultural manufacturing, animal production, plant production, and services. He also highlighted the efforts made to implement AAAID’s new strategic plan, strengthen the organizational chart, and implement corporate governance standards, in addition to the achievements made in improving financial performance.
During the meeting, the Council issued several important decisions, including approval of the AAAID’s Board of Directors’ proposal regarding the new corporate identity and amending the AAAID’s name to become the “Arab Authority for Investment and Food Security.” This reflects the Council’s support for AAAID’s new strategic directions towards achieving food security in Arab countries. The Council also approved AAAID’s 2024 annual report and final accounts.
On the other hand, the Council approved the AAAID’s investment operations program for 2025 and authorized the Board of Directors to implement it in accordance with the approved investment policy.
