Libyan Investment Authority contracts PwC Mid East for asset revaluation

The Libyan Investment Authority (LIA) has contracted PwC Middle East to perform a comprehensive and independent valuation of its group assets for the 2024-2025 period. This initiative is part of the LIA's strategy to boost transparency and enhance the quality of its financial disclosures.

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this comes as part of its commitment to implementing a strategy aimed at enhancing transparency and improving the quality of financial disclosure.

The valuation will update the fair value of the LIA's assets, which was last assessed in 2019. It will employ specialized methodologies tailored to different asset types and investment sectors, ensuring the determined fair values reflect current economic and investment realities. The process will also consider future plans for subsidiaries and rely on audited financial data.

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this new valuation will reflect the developments affecting the LIA’s assets and investments over the intervening years, providing a more accurate and up-to-date picture of the Group’s financial position.

A key aspect of this project is the LIA's commitment to national capacity building. A team of young Libyan graduates will participate in the valuation process after receiving specialized training. This aims to equip them with the skills to independently manage such projects within the LIA in the future.

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As part of its commitment to building national capacity and knowledge transfer, the LIA will prepare a team of talented young national graduates to participate in this strategic project.

The LIA stated that this valuation is a significant step towards improving financial reporting, providing stakeholders with a more accurate picture of the assets it manages. It is expected to reinforce the LIA's standing as a sovereign wealth fund operating under global best practices, ultimately serving the interests of the Libyan state and improving asset management efficiency for future generations.

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this project represents a significant step toward enhancing transparency and elevating the quality of financial information, ultimately serving the interests of the Libyan state and improving the efficiency of asset management and growth for future generations.