The President of Botswana, His Excellency Advocate Duma Gideon Boko on Tuesday, 9th August 2025 announced the creation of a new Botswana Sovereign Wealth Fund Limited with a Nigerian, Mr. Farouk Gumel as inaugural Chairman of its Board of Directors.
Mr Gumel is currently the Vice Chairman of Tropical General Investments (TGI) Group and immediate past Chairman of the Nigerian Sovereign Investment Authority (NSIA). The announcement was made at the official launch of the new multi-billion-dollar Sovereign Wealth Fund at the President’s office in Gabarone, Botswana.
President Boko underscored the significance of this step, placing it at the heart of his government’s vision for economic diversification and long-term resilience:
The launch of the Botswana Sovereign Wealth Fund represents an investment in the future of our country. It is about creating jobs, driving growth, and ensuring that our nation’s wealth works for all Batswana.
source: medianetwork
