Recent initiatives suggest a growing sophistication amongst Africa’s sovereign wealth funds as they seek to conform to international governance practices and pledge to boost co-operation and co-investment across the continent and around the world. This dimension of collaboration will catalyse Africa’s anticipated growth,” said Uche Orji, managing director and chief executive officer of the Nigeria Sovereign Investment Authority, NSIA, speaking at ASIF’s launch. According to a June report from the International Forum of Sovereign Wealth Funds, IFSWF, the global network of sovereign wealth funds from over 40 countries, three key themes dominate investments over the last year. In 2021, sovereign wealth funds not only invested in digital technologies but also put more capital into hard assets. Sovereign wealth funds have backed these trends, which will benefit from the energy transition and rising demand for digital services.

Source: The North Africa Journal July 12, 2022 08:32 UTC