| The growth in the number of sovereign wealth funds (SWFs) in Africa calls for an attempt to put Nigeria’s own arrangements into context. If we take a broad definition of a fund, more than 15 countries in Africa have one either in operation or on the drawing board. Kenya’s is the latest creation, and Botswana’s (Pula Fund) the oldest on the continent, established in 1993.
The largest is Algeria’s although it was once Libya’s before its substantial losses on positions in derivative products and the cost of the sizeable fees charged by household names in international investment banking for the related expertise...............................................Full Article: Source
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