Tagged in: Sovereign Wealth Fund

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How well are Africa’s sovereign wealth funds managed?

Ilate March, news broke that Jose Filomeno dos Santos, son of the former Angolan president, Jose Eduardo dos Santos, and former chairman of Fundo Soberano de Angola (FSDEA), the $5bn Angolan sovereign wealth fund (SWF), had been charged by his country’s prosecutors for fraud over the transfer of $500m from the central bank’s account with Standard Chartered in the UK.…

Nigeria: Saving For A Rainy Day

The Nigerian government has finally followed the example of other members of OPEC by launching a sovereign wealth fund (SWF) to encourage savings from crude oil earnings, despite stiff opposition from the state governors.…