The companies said Monday they will set up a fund management company that will focus on investments in Nigeria, Ghana, Kenya, Egypt, Tunisia and Morocco.

The jointly run fund aims to invest in sectors such as banking, mining, consumer products and manufacturing. It will be funded equally by the two companies.

Invest AD is one of several companies Abu Dhabi uses to invest its oil wealth. It already manages a fund targeting African stocks and others focused on investments in the Middle East and North Africa.

SBI is an investment company based in Tokyo.