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