SovereignWealthFunds.comSouth Africa Sovereign Wealth Fund (proposed)
proposed: what it invests in
Geography Mainly domestic
proposed: how big it is, and on what basis
proposed: what it publishes
Published 0 · Partly 0 · Not published 10
Our 10 item score. It measures what is public, not how well a fund is run.
At a glance. South Africa has talked about a sovereign wealth fund since President Cyril Ramaphosa raised the idea in August 2018. In August 2026 the Development Bank of Southern Africa sought advisers for a feasibility study on a national fund and on a Pan-African wealth fund floated during South Africa's 2025 G20 presidency. No law, capital or board exists yet. S1 S3
Key points
- The DBSA tender RFP157/2026 covers a feasibility study for the fund. S3 S1
- The study also covers a Pan-African wealth fund proposed during the 2025 G20 presidency. S1
- Stated aims include infrastructure, diversification, industrialisation, energy transition, climate resilience and intergenerational equity. S1
- Early DBSA work points to strategic minerals, pension capital, public assets and climate finance as possible building blocks. S1
- No capital source or budget allocation has been announced. S1
Interesting facts
Mandate and goals
The concept is to mobilise long-term capital for infrastructure, industry and the energy transition while supporting fiscal sustainability and saving for future generations. S1
How it invests
| Industries | Infrastructure and utilities, Mining and metals, Renewables and climate, Industrials and manufacturing S1 |
|---|---|
| Asset classes | Infrastructure, Strategic state holdings S1 |
| Stages | Infrastructure S1 |
| Geography | Mainly domestic. National fund, with a Pan-African option S1 |
| Direct / through funds / co-invest | Not published / Not published / Not published S1 |
| Ticket size | No ticket. S1 |
| External managers | Not set S1 |
| Co-investment programme | None. S1 |
Past investments
The fund has not published a list of investments.
Investment process
Awaits the DBSA feasibility study and any Treasury decision. S1
How to approach: The DBSA tender is the only formal document. S3
Size and returns
- Headline size: Not established (Published estimate, as of 2026-09-05) S1
- Returns: the fund does not publish a return figure.
Leadership
| Name | Title |
|---|---|
| Cyril Ramaphosa | President of South Africa S1 |
Governance and transparency
Transparency score: 0.0 of 10 (band 1 of 5). Our own 10-item rubric; see the methodology page.
- Not published: total assets, annual return, long-term returns, asset allocation, geographic or sector split, holdings or deal list, audited financial statements, governance and mandate documents, named leadership, regular reporting schedule. S1
History
For family offices
Nothing to access yet; the fund is at feasibility stage. S1
Common questions
Does South Africa have a sovereign wealth fund?
No. The DBSA is studying whether to create one. S1
Who first proposed it?
President Cyril Ramaphosa, in August 2018. S1
How would it be funded?
Not decided; minerals, public assets and state company reform are among the options studied. S1
Related profiles
- Eswatini Sovereign Wealth Fund Eswatini · E5B planned (about USD 275M)
- Tanzania Oil and Gas Fund (Natural Gas Revenue Fund) Tanzania · TZS 190.94B
- Botswana Sovereign Wealth Fund (BSWF) Botswana · Not yet capitalised
- Fonds Souverain de Guinee (proposed) Guinea · Not yet capitalised
- Kenya Sovereign Wealth Fund Kenya · Not disclosed
- Lagos State Wealth Fund Nigeria (Lagos State) · Not created
All sovereign wealth funds in Africa · All proposed or pipeline funds · All funds in South Africa
Sources
Disclaimer
Informational only. SovereignWealthFunds.com is an independent public-source reference. It is not affiliated with or endorsed by any fund named on it, and it is not investment, legal or tax advice. Figures are as of the dates shown next to them and may have changed; please read each fund's official pages, linked on its profile. To report an error, use the contact page. Copyright SovereignWealthFunds.com. All rights reserved.
