15.01.2014 - Zambia plans sovereign wealth fund to boost investment
Zambia plans to establish a sovereign wealth fund to spur investment outside the mining industry of Africa’s biggest copper producer. According to President Michael Sata, the fund will be set up through the Industrial Development Corp., which will oversee the southern African nation’s state-owned companies. “The state will through the IDC maximize the value of government assets by establishing a sovereign wealth fund, which will focus on stimulating investment in strategic non-mining industries among others, thereby expanding the country’s investment portfolio and thus creating jobs,” Sata said...............................................Full Article: Source
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