| Africa has experienced a growth spurt in the last decade largely because of rising commodity prices. But that can't last forever, and it hasn't. Partly as a hedge and partly as an economic development vehicle, several African nations started sovereign wealth funds (SWFs) to occasional controversy.
Global SWF assets have doubled since the 2008 financial collapse to more than $7.2 trillion in 2015. SWFs in Africa are blooming and now manage assets over $160 billion, which represent more than 6 percent of the continent’s Gross Domestic Product. Angola’s SFW is one of the continent's largest. Launched in October 2012, Fundo Soberano de Angola, or FSDEA, was endowed with $5 billion in assets and a mandate to promote economic and social development in Angola and Sub-Saharan Africa.............................................Full Article: Source
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