Africa’s first sovereign wealth fund—Botswana’s Pula Fund—was established in 1994, and the last 20 years have seen a proliferation of SWFs across the continent valuing around $120 billion. Africa now has more than 14 sovereign wealth funds (SWFs), and several more countries are in the process of establishing funds. 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. 

From May 9-10, 2019, the Wilson Center Africa Program and the Government of Botswana co-hosted the high-level meeting on “Sovereign Wealth Funds in Africa: Policies and Best Practices for Securing the Future,” under the banner of the Brown Capital Management Africa Forum.

Key Outcomes from the High-Level Meeting on Sovereign Wealth Funds in Africa: Policies and Best Practices for Securing the Future—released for the Brown Capital Management Africa Forum high-level meeting on “Sovereign Wealth Funds in Africa: Policies and Best Practices for Securing the Future,”—highlights the key findings and recommendations from the two-day high-level meeting. The discussions unpacked the current state of African SWFs, focused on issues related to SWF governance, and assessed the role SWFs play as catalysts for Africa’s development. They also reflected on experiences and lessons learned from other regions to determine best practices that could be adapted to Africa’s context and needs, and developed practical recommendations for addressing governance and development issues. 

Please find the key outcomes document below. 

This publication is part of the Brown Capital Management Africa Forum. For more information and upcoming events and publications, please see here.