Why African governments hesitant to establish sovereign wealth funds

Misheck Mutize ()
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Misheck Mutize: African Union Support Program

Development Finance Agenda, 2024, vol. 9, issue 1, 12-13

Abstract: Establishing a Sovereign Wealth Fund (SWF) is one of the key strategies1 for a country to stabilize its economy through diversification and to generate wealth for future generations. SWFs also supports building up savings, preserve and grow a nation’s wealth for the benefit of current and future generations. These state-owned investment funds are used to manage and invests a country’s reserves derived from surplus revenues, foreign exchange earnings and proceeds from the sale of natural resources like oil or minerals. Despite the its importance in economic development, a few African governments have established and adequately capitalised their wealth funds.

Date: 2024
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