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Angola’s Sovereign Wealth Fund Bets $500 Million On Hotels In Africa

AFRICANGLOBE - Angola's Sovereign Wealth Fund, which was established in October 2012 will gradually diversify its investment portfolio across a number of industries and asset classes in accordance with its investment policy and guidelines. By pursuing investments that generate long-term and socially enhancing financial returns across Africa.

Africa’s Richest Man To Sell Stake In Cement Firm To UAE...

AFRICANGLOBE - Africa’s richest man Aliko Dangote is selling a stake in his cement company to a sovereign wealth fund owned by the government of Dubai, United Arab Emirates.

Kenya Plans Sovereign Wealth Fund Before Oil Cash

AFRICANGLOBE - Kenya's planned sovereign wealth fund will be set up before the expected flow of oil money from recent discoveries in the country's north. Acting Central Bank of Kenya chairman Mbui Wagacha said the framework for the sovereign wealth fund had been completed and that it was being fine-tuned.

Libya’s Sovereign Wealth Fund Sues Goldman Sachs

AFRICANGLOBE - Goldman Sachs exploited a lack of financial knowledge at Libya's sovereign wealth fund and a position of trust when it encouraged the fund to invest more than $1 billion in trades that ended up worthless, the fund has claimed in court documents.

Sovereign Wealth Funds: The Potential Of Tanzania And Mozambique

Oil, gas, minerals…it is the story of many emerging African economies. Foreign investors flock to these countries with new ideas, new technologies, and more money. Presidents and prime ministers announce new discoveries and rightfully hype the potential of the country. But how do you keep the momentum going in the long run? Start a sovereign wealth fund (SWF).

South Africa Wealth Fund to Expand Investment In Dangote Group

AFRICANGLOBE - Public Investment Corporation (PIC), South Africa’s biggest sovereign wealth fund, on Monday said last week’s transaction with Dangote Cement will open up new acquisition prospects in Dangote’s other operations.

Africa Experiencing Surge In Sovereign Wealth Funds

AFRICANGLOBE - Africa is experiencing the strongest growth in new sovereign wealth funds in the world as its nations are amassing commodity revenues and large foreign-exchange reserves, JP Morgan Asset Management said on Monday.

JP Morgan to Manage Nigeria’s Multi-Billion Sovereign Wealth Fund

AFRICANGLOBE - Financial services firm, JP Morgan, has been appointed by Nigeria's Federal Government as the custodian of the country's Sovereign Wealth Fund preparatory to the formal take off of the fund next month.

Africa: the Rise of the Sovereign Wealth Fund

AFRICANGLOBE - African sovereign wealth funds are emerging to save and invest resource revenues. If efficient, they could also boost domestic growth and credit ratings. A spate of sovereign wealth funds are opening across Africa as resource-rich countries look to manage their revenues.

Nigeria’s Sovereign Wealth Fund to Commence Investment 2013

AFRICANGLOBE - Following the approval of its strategy document and the progress made with its investment policy guidelines, Nigeria's Ministry of Finance has announced that the Sovereign Wealth Fund (SWF) is expected to commence investment in a variety of instruments by March 2013.

Angola Launches $5 bln Sovereign Wealth Fund

Angola on Wednesday launched a $5 billion sovereign wealth fund to invest in domestic and overseas assets by funnelling its vast oil wealth into...

Meet The Man Who’ll Lead Nigeria’s Sovereign Wealth Fund

The names of those to be on the Board of Directors of the Nigerian Sovereign Wealth Fund were finally unveiled by the country’s Minister...

Tanzania To Create Sovereign Wealth Fund

Tanzanian President, Jakaya Kikwete, has announced his government’s intention to establish a sovereign wealth fund (SWF) to protect Tanzania’s future gas production revenues. In June,...

Nigeria Establishes Sovereign Wealth Fund

Nigeria's powerful state governors said on Monday they had approved federal government's proposal to launch a sovereign wealth fund with an initial $1 billion,...