CAIRO: Qatari sovereign wealth fund will invest at least $30 billion in 2012, and see commodities as a key target in this year, Hussain al-Abdulla, senior executive of the fund told reporters in Doha on Sunday. “We like commodities. We like to invest in commodities. Since 2002, the commodity price trend keeps going up,” Hussein added on the sidelines of UNCTAD conference in Doha. Abdulla said the fund was looking for opportunities for direct investment in Africa, though there are difficulties in investing large amounts in the continent. “To invest large amounts in Africa, we need a mechanism. No one yet has the know-how to invest large amounts in Africa. This is not easy, but we are looking for direct investment,” he clarified. Qatar Holding, the sovereign wealth fund's investment arm, passed on a $1 billion investment in European Goldfields last year after the company instead agreed on a $2.4 billion takeover by Canadian group, Eldorado Gold. Qatar strategy is to invest in famous assets in the world; the last deal for the fund was yesterday, as it bought nearly a stake of 3% in giant oil French company, Total.
