Tinubu urges unified action, smarter use of Africa’s Wealth Funds
President Bola Ahmed Tinubu has urged African nations to embrace regional cooperation and adopt strategic financial discipline to unlock the continent’s economic potential through effective utilisation of sovereign wealth funds.
The President made the call on Monday during the opening of the **4th Annual Meeting of the Africa Sovereign Investors Forum (ASIF)** in Abuja, hosted by the Nigeria Sovereign Investment Authority (NSIA). Represented by Vice President Kashim Shettima, President Tinubu stressed that the time is now for African countries to act collectively and boldly in transforming the continent through sustainable investments.
With the theme, *“Leveraging African Sovereign Wealth Funds to Mobilise Global Capital for Transformative Development in Africa,”* the meeting comes at a time of global economic shifts and increased demand for innovative solutions to infrastructure deficits, youth unemployment, and climate resilience across Africa.
READ ALSO: TikToker Jarvis Opens Up on Childhood Struggles, Forced Labor
“Our future lies not in working in silos, but in pursuing regional cooperation and collective ambition,” Tinubu declared. “Sovereign wealth funds must evolve into pan-African investment platforms that de-risk projects and standardise development processes.”
He noted that sovereign investment institutions must become catalysts for impactful projects in areas like healthcare, renewable energy, food security, digital innovation, and job creation.
President Tinubu also lauded the launch of the ASIF Investment Platform, describing it as a strategic move to pool African capital, expertise, and networks for high-impact, cross-border projects.
Finance Minister Wale Edun outlined key priorities, including large-scale capital mobilisation, policy alignment, and human capital development. “Our task is to lay the groundwork for partnerships that transform Africa economically and socially,” he said.
Also speaking, AfreximBank President Prof. Benedict Oramah challenged African sovereign fund managers to prioritise investments within the continent. “Africa is rich with bankable projects. What we need is a change in mindset,” he said.
Pan-African scholar Prof. PLO Lumumba echoed this sentiment, urging leaders to treat Africa’s wealth as an inheritance for future generations: “We owe it to the unborn to invest here at home, not abroad.”
ASIF Chairman Mr Obaid Amrane highlighted the forum’s progress since inception, saying it is shaping Africa’s global investment narrative and closing the region’s infrastructure gaps.
NSIA Managing Director, Mr Aminu Umar-Sadiq, stressed the central role of private capital in driving Africa’s growth, adding that the forum would catalyse development across priority sectors.
Other dignitaries at the high-level event included Minister of Industry, Trade and Investment, Dr Jumoke Oduwole; Africa Finance Corporation CEO, Mr Samaila Zubairu; FIRS Chairman, Mr Zacch Adedeji; and International Solar Alliance DG, Mr Ashish Khanna.
The event concluded with renewed commitments to pan-African cooperation and homegrown solutions that leverage Africa’s sovereign wealth for transformative, inclusive growth.
