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Abu Dhabi Wealth Fund Targets Africa, Renewables to Lift Returns

(Bloomberg) — Abu Dhabi’s top sovereign wealth fund is looking to Africa and renewable energy to generate greater returns, while relying more on artificial intelligence to mine data and spot new investment opportunities. “With an abundance of natural resources and young, growing and increasingly educated populations, African countries are among those offering the greatest potential…

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Saudi public investment fund poised to invest in Egypt’s sovereign wealth fund

Saudi Arabia’s Public Investment Fund (PIF) is keen to inject investment into Egypt’s Sovereign Wealth Fund (TSFE) as well as into other projects, reports say citing a statement from the Egyptian government. Saudi Arabia’s Public Investment Fund (PIF) is keen to inject investment into Egypt’s Sovereign Wealth Fund (TSFE) as well as into other projects,…

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How Have Governments of Resource-Rich Countries Used Their Sovereign Wealth Funds During the Crisis?

Governments dependent on revenues from commodities like oil, gas, copper, bauxite, zinc and cobalt are suffering serious budget crises. While many have sought support from the international financial institutions, made drastic spending cuts, or borrowed heavily—sometimes at high interest rates—a few are blessed with large sovereign wealth funds (SWFs) or entered the crisis with low debt…

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South Africa’s Infrastructure Fund is here, minus corruption vows National Treasury

South Africa’s R100bn (about $5.8bn) Infrastructure Fund is here, but there will no repeat of the large-scale corruption witnessed in 2010, says National Treasury director-general Dondo Mogajane. “We will ensure that [which] we had seen during the construction of the 2010 infrastructure roll-out does not happen. We’ve got lessons we’ve learnt from what we picked up when…

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$39b Nigerian infrastructure company gets green light

The Central Bank of Nigeria (CBN) has received approval to create an infrastructure development company that would finance the revamp of critical transport infrastructure throughout the country. The company would leverage local and international funding, and would be co-owned by the CBN, African Finance Corp., and Nigerian Sovereign Wealth Investment Authority. It would be exclusively…