30.01.2013 - Rise of African SWFs
As African countries' wealth grows, governments are exploring new way to manage their reserves with more fiscal responsibility, accumulate wealth and bring more transparency and accountability in how they manage their new-found riches. Angola, Ghana and Nigeria - all major or promising hydrocarbons' players - established sovereign wealth funds in 2012, and Tanzania expressed its intention to establish a fund to manage its oil and gas reserves. African states are relatively minor players in the global SWF industry. Major oil producers Norway and Abu Dhabi lead the way with two of the largest and successful sovereign wealth funds...............................................Full Article: Source
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