Gaborone, Botswana

Sovereign Wealth Funds in Africa: Policies and Best Practices for Securing the Future (Gaborone, Botswana)

In partnership with the Government of Botswana, the first sovereign wealth fund in Africa, the Wilson Center's Brown Capital Management Africa Forum will conduct a high-level meeting from May 9-10, 2019 in Gaborone, Botswana to address the key issues and trends in Sovereign Wealth Funds (SWFs) in Africa, to answer questions on the best policies and practices for structuring and managing SWFs, and to facilitate collaboration and exchange of information among global SWFs and the private sector.  

As African countries seek to steward natural resource revenue in order to promote long-term economic growth and development, Sovereign Wealth Funds offer opportunities for managing and investing income to achieve long-term sustainable development. These SWFs can play a critical role in saving for the future, economic stabilization, and pursuing and bolstering long-term development. 

Africa’s first Sovereign Wealth Fund—Botswana’s Pula Fund—was established in 1994, and the last 20 years have seen a proliferation of at least 13 more SWFs across the continent valuing around $120 billion. In 2008, the Santiago Principles were accepted as 24 best practices to “promote transparency, good governance, accountability, and prudent investment practices whilst encouraging a more open dialogue and deeper understanding of SWF activities.”  Ten years on, a forward-leaning discussion of the progress of African SWFs, an analysis of the changing global economic landscape in the past decade, and prospects for SWFs to support economic transformation and future generations is timely.

Building on the successful, high-level dialogue at the 2016 Brown Capital Management Africa Forum Signature Event, “Long-term Sustainable Development in Africa:  The Role of Sovereign Wealth Funds,” the conference will expand and deepen the discussion on SWFs and their role in promoting development and securing Africa’s future. This conference will seek to bring together key stakeholders from across the continent and globally from the government, international finance, development, and private sectors.