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Top 10 African countries with high sovereign wealth funds

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Over 20 African countries have established sovereign wealth funds (SWFs) to manage revenue from natural resources and other income
The article from BusinessDay NG discusses the top 10 African countries with the highest sovereign wealth funds (SWFs), highlighting their significance in economic stability and development. Nigeria leads with the Nigeria Sovereign Investment Authority (NSIA), managing assets worth $1.5 billion, aimed at saving for future generations and stabilizing the economy. Algeria follows with its Revenue Regulation Fund (RRF), which has been pivotal in managing oil revenues. Libya's Libyan Investment Authority (LIA) holds significant assets despite political turmoil. Angola's Fundo Soberano de Angola (FSDEA) focuses on transforming oil wealth into diversified investments. Botswana's Pula Fund, established in 1994, uses diamond revenues for future generations. Other notable mentions include Senegal, Ghana, Equatorial Guinea, Gabon, and Mauritania, each with funds designed to leverage natural resource wealth for economic diversification and stability. These SWFs are crucial for these nations, providing a buffer against economic shocks and funding for development projects.

Read the Full businessday Article at:
[ https://businessday.ng/africa/article/top-10-african-countries-with-high-sovereign-wealth-funds/ ]