Attract global capital, NSIA boss urges African SWFs
The Managing Director and CEO of the Nigeria Sovereign Investment Authority (NSIA), Mr Aminu Umar-Sadiq has urged African sovereign wealth funds(SWFs) to brace up as global capital mobilizers and social transformation agents
Umar-Sadiq spoke at the ongoing 4th Annual Meeting of the Africa Sovereign Investors Forum (ASIF) in Abuja in an audience packed full of African finance leaders, global investors, and policymakers.
He said sovereign funds across the continent should embrace the rigour of wealth preservation with the urgency of driving sustainable, inclusive development.
“We are not merely fund managers, but nation builders, market-makers, and indeed catalysts of trust,” he said, in what became the thematic centre of the day’s proceedings.
He noted that the theme of this year’s forum “Leveraging African Sovereign Wealth Funds to Mobilize Global Capital for Transformative Development in Africa” could not be more timely.
He however suggested a strategic framework through which African sovereign wealth funds can move from passive investors into active global players.
According to him, the strategy is positioned on three key objectives: the need to strike a balance between bold, catalytic investments and long-term wealth protection; the creation of vehicles that can mobilise international capital while delivering both commercial and social returns; and the repositioning of African funds as credible, strategic partners of choice for institutional investors worldwide.
“H said the focus“is on how Africa Sovereign Wealth Funds, through effective domestic, continental, and global partnerships, can achieve three objectives.”
These include becoming both “risk-takers saddled with the responsibility of catalysing economic impact” and “conservative investors managing wealth for our future generations”; co-creating sustainable investment platforms that appeal to both financial and developmental priorities; and establishing themselves as partners with the “right blend of domestic influence and capital” to attract global investors.
The summit, hosted by NSIA and chaired by Vice President Kashim Shettima, convened top-tier representatives from sovereign funds, development finance institutions, and global capital partners.
