20th July, 2021
The Rwandan government has appointed seven new board members from the global asset management industry to the Agaciro Development Fund as it seeks to take the sovereign wealth fund to the next level.
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2nd July, 2021
Sub-Saharan Africa is the final frontier for state-owned investors (SOIs), offering potential large rewards – but also significant challenges. For patient investors capable of honing in on good deals, the region offers significant long-term returns that could generate big yields.
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11th May, 2021
Defying the impact of the pandemic, the Nigeria Sovereign Investment Authority’s (NSIA) income soared 343% to NGN160 billion in 2020.
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29th March, 2021
The attack on Palma in northern Mozambique last week killed dozens and delivered a blow to the country’s plans to develop its gas reserves, which are central to the government’s plans for a sovereign wealth fund.
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19th March, 2021
Plans for a US$1.4 billion fertilizer plant in Nigeria backed by the country’s sovereign wealth fund have received strong interest from investors, potentially enabling the project to reduce its debt burden.
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1st November, 2020
The Libyan Investment Authority (LIA) was established in 2006 to manage surplus O&G revenues. With assets over $67 billion, the LIA is Africa’s largest SWF and has invested in assets such as Banking Hall in London, Juventus FC and Corinthia Group. However, political unrest and division of power in the wake of Gaddafi’s ousting from power had repercussions on the fund, which saw its international portfolio frozen by the UN in 2011. We had the pleasure of finding out more about the LIA’s latest developments with its current Chairman, Dr. Ali Mahmoud.
1st September, 2020
The Fundo Soberano de Angola (FSDEA) was established in 2012 with an initial injection of USD 5 billion from O&G proceeds, which made it (and still is) the largest SWF in all of Sub-Saharan Africa. Since then, the fund has gone through various Governance issues, with the son of the country’s President, José Filomeno “Zenú” dos Santos, acting as its Chairman. On August 15, 2020, after an eight-month trial, Zenú was sentenced to five years in jail for embezzling US$ 0.5 billion from the Central Bank. This could be a second chance for the SWF, despite the significant withdrawals faced during the past 14 months. We had the pleasure of catching up with Miguel Carneiro, former Head of Alternatives Investments at FSDEA and currently a partner at AFC & Partners.