Four African Sovereign Wealth Funds Rank among the World's Largest
According to the Sovereign Wealth Fund Institute (SWFI), four African sovereign wealth funds feature in the global ranking of the most important ones. Notably, three of them are located in North Africa, including Algeria and Libya, both bordering Tunisia. These funds illustrate varied approaches to managing financial surpluses and long-term investment strategies, from consolidating public assets to international diversification strategies.
1. Ethiopian Investment Holdings (Ethiopia) - $45 billion (34th global rank)
The public company Ethiopian Investment Holdings (EIH) stands out as the largest African fund. Created to consolidate state assets, it currently manages a portfolio comprising 40 companies, including Ethiopian Airlines, Ethio Telecom, the Commercial Bank of Ethiopia, and Ethiopian Shipping and Logistics.
Moreover, EIH holds minority stakes in five other companies, strengthening its strategic presence in key sectors of the national economy.
2. Libyan Investment Authority (Libya) - $39.5 billion (35th global rank)
The Libyan Investment Authority (LIA) organizes its investments around three main categories:
- Term deposits (57.5% of the total portfolio)
- Stocks (23.5%)
- Investment funds (19%)
The entire portfolio has generated positive returns and recorded growth during the 2024 fiscal year, despite an unstable global economic environment.
3. Revenue Regulation Fund (Algeria) - $16.3 billion (50th global rank)
The Algerian Revenue Regulation Fund recorded annual revenues of $3.7 billion in 2024 (500 billion Algerian dinars), based on the latest official estimates.
However, the country's public finances remain under tension: according to the Ministry of Finance data, the projected budget deficit is expected to exceed $62 billion (8.3 trillion dinars) in 2025, or 21.8% of GDP.
4. Egyptian Sovereign Fund - $12 billion (53rd global rank)
The Egyptian Sovereign Fund (FSE) plays a key role in the government's privatization strategy. In June 2022, it created a dedicated fund for managing the sale of public company shares to private investors. This initiative is being carried out in cooperation with the government committee responsible for initial public offerings (IPOs), aiming to revitalize the financial market and mobilize capital.
