Past event

Research Event

Africa'€™s Sovereign Wealth Funds: Demand, Development and Delivery

Chatham House, London

Africa Programme, Economic Growth and Investment, Angola Project

Event documents

Agenda
pdf | 177.53 KB
Speaker Bios
pdf | 121.48 KB
Meeting Summary
pdf | 240.92 KB

Participants

José Filomeno de Sousa dos Santos, Chairman of the Board of Directors, Fundo Soberano de Angola
Hon Mona Helen Quartey, Deputy Minister of Finance, Republic of Ghana
Hon Birima Mangara, Minister of Budget, Senegal
Malan Rietveld, Economics and Politics Researcher, Vale Columbia Center, Columbia University
Andrew Bauer, Economic Analyst, Natural Resource Governance Institute
Dr Victoria Barbary, Director, Institutional Investor's Sovereign Wealth Center
Jennifer Johnson-Calari, Adviser, Sovereign Wealth Governance and Management
Michael Maduell, President, Sovereign Wealth Fund Institute
Virgil Mendoza,  Head of Central Banks, Standard Bank
Vidar Ovesen, Independent consultant on Oil and Gas Revenue Management; Deputy Minister of Finance, Government of Norway (2000–01)
Dr Håvard Halland, Economist, World Bank
Dr Sara Bazoobandi,  Lecturer in International Political Economy, Regent's University London
Dr Larry Backer, Professor of Law and International Affairs, Pennsylvania State University
Dr Surendranath Jory, Lecturer in Accounting & Finance, University of Sussex
Dr Adam Dixon, Associate Professor, University of Bristol

Chairs:
Alex Vines OBE, Director, Area Studies and International Law; and Head, Africa Programme, Chatham House
Jonathan Rosenthal, Africa Editor, The Economist
Razia Khan, Managing Director, Head, Africa Macro Global Research, Standard Chartered Bank

Overview

The number of sovereign wealth funds (SWFs) in Africa has increased in recent years as governments have sought to capitalise on resource revenues, and many other countries are considering setting up such financial vehicles. Currently, African funds account for only about two per cent of total assets under SWF management globally, but this is expected to rapidly expand. Despite growing enthusiasm for these funds little is known about them and critics have raised concerns regarding their accountability, regulation and oversight, as well as their political autonomy, especially in countries with nascent financial systems and institutions. If these funds are to be used not just to offset volatile resource revenues but to finance national development plans, then a greater understanding of their management and potential is required.

This conference will consider how SWFs can develop strategies to ensure their performance as accountable financial tools in service of national economies, rather than becoming grey financial tools or parallel budgets. It will focus on what these funds can deliver for sub-Saharan African states, review their demand, development and delivery on expectations, and discuss their role in the international financial system.

The conference is supported by Quantum Global.

THIS EVENT IS NOW FULL AND REGISTRATION IS CLOSED.