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Sovereign Wealth Funds Briefing - Categorized | Trends

Sovereign funds expand in Africa

Posted on 16 December 2013

Africa may not be home to the world’s largest sovereign wealth funds (SWFs) – those are in the Middle East and Asia – but the continent is becoming an important place for bankers, as several countries create funds to save commodities revenues.
Over the past two years, oil producers Nigeria, Ghana and Angola have established sovereign funds, managing $1bn, $100m and $5bn respectively, opening a new chapter for Africa. Other countries are likely to follow over the next decade, according to Mthuli Ncube, chief economist at the African Development Bank………………………………………..Full Article: Source


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