By Esther Osansanya
The Federal Government of Nigeria has called on African nations to harness the collective power of their sovereign wealth funds (SWFs) to drive transformative development, deepen regional integration and accelerate sustainable infrastructure delivery across the continent.
Vice President Kashim Shettima made the call at the official opening of the 2025 Africa Sovereign Investors Forum (ASIF) held in Abuja on Monday.
The high-level gathering, hosted by the Nigeria Sovereign Investment Authority (NSIA), is themed “Leveraging African Sovereign Wealth Funds to Mobilize Global Capital for Transformative Development in Africa.”
In his address, Shettima challenged African leaders and sovereign institutions to transition from rhetoric to measurable action.
He emphasized the importance of aligning capital with purpose and pursuing long-term strategies that deliver tangible benefits to African citizens.
He said: “This is not a time for hesitation. It is a time for bold, coordinated action. Africa must move beyond ambition and begin to execute together.
“Through the collective strength of our sovereign funds, we can close the infrastructure gap, unlock cross-border development and chart a course toward shared prosperity.”
The Vice President’s message set the tone for a robust dialogue around regional capital deployment, economic sovereignty, and intra African investment.
Joining him on the podium was Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, who reinforced the urgency for Africa to invest in itself.
Edun described sovereign wealth funds as catalysts for industrialisation and inclusive growth, urging them to embrace a proactive role in national development strategies.
He said: “Africa must shift from passive financial stewardship to bold economic intervention. We must mobilize capital not only to stabilise, but to transform.
“The continent’s development lies in our ability to invest in Africans, build resilient infrastructure, and champion regional value chains.”
The forum drew participation from senior government officials, sovereign wealth fund executives, global institutional investors, development finance experts, and multilateral agencies. Delegates from over 20 African nations and partner countries were in attendance.
In his remarks, NSIA Managing Director and CEO, Aminu Umar Sadiq, said the forum aims to reposition African sovereign wealth funds as platforms for strategic collaboration, capable of mobilizing both domestic and international capital for high-impact development projects.
He said: “ASIF is not just a conference, it is a call to action. It is about building institutions and partnerships that can scale Africa’s ambitions into real outcomes. We are here to align vision with investment, purpose with performance, and capital with communities.”
The NSIA Board Chairman, Mr. Olumide Ogunsanya, emphasized the importance of prioritizing African capital before seeking external funding.
He argued that long-term development cannot be outsourced and self-reliance begins with internal financial alignment.
“Our sovereign wealth funds must act with urgency, with clarity of purpose, and with full accountability. Domestic capital creates autonomy. It drives confidence. And it lays the foundation for stronger international partnerships,” Ogunsanya added.
In his address, President of Afreximbank, Professor Benedict Oramah, urged sovereign wealth funds on the continent to move away from outdated investment models focused on offshore placements and instead deploy their assets toward industrialization, innovation, and critical infrastructure development within Africa.
Oramah said: “It is time we dismantled colonial-era mindsets that suggest value lies only abroad. Africa has the resources, the people, and now the institutional maturity to invest in itself. Sovereign funds must become instruments of transformation, not just preservation.”
Adding a global voice to the conversation, Mr. Haoling Liu, Vice Chairman, President, and Chief Investment Officer of the China Investment Corporation (CIC), expressed China’s readiness to partner with African SWFs on joint investments in priority sectors such as energy, technology, and infrastructure.
Also speaking, Mr. Samaila Zubairu, President and CEO of the Africa Finance Corporation (AFC), emphasized the need for execution, not just vision. He called for the reduction of project complexity, the mobilization of local pension and insurance capital, and regulatory reforms that encourage institutional investment in bankable African projects.
Signing the ASIF Investment Platform
A key highlight of the event was the official launch and signing of the ASIF Investment Platform, a joint initiative designed to facilitate co investment by sovereign wealth funds across Africa on transformative, cross-border projects.
The signing ceremony brought together fund managers, policymakers, and development finance institutions, all signaling their commitment to an African led capital platform capable of unlocking billions in private and institutional investment.
The platform will serve as a collaborative mechanism for identifying, structuring, and executing large scale projects in infrastructure, clean energy, logistics, and digital connectivity, aligning with Africa’s development priorities and Agenda 2063 goals.
According to the NSIA, the platform will also enable strategic risk sharing among sovereign entities and accelerate the flow of long-term capital into sectors that have historically struggled to attract financing due to perceived risks.
Esther Ososanya is an investigative journalist with Pinnacle Daily, reporting across health, business, environment, metro, Fct and crime. Known for her bold, empathetic storytelling, she uncovers hidden truths, challenges broken systems, and gives voice to overlooked Nigerians. Her work drives national conversations and demands accountability one powerful story at a time.
