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Unofficial sovereign wealth funds and duration in power in Africa

Author

Listed:
  • Larissa Nawo
  • Désiré Avom
  • Kyle McNabb
  • Luc Nembot

Abstract

This paper argues that in weak states, leaders whose hold on power is secured by the public fortune have turned to the use of sovereign wealth funds (SWFs), especially unofficial SWFs, to cement their hold on power. Unofficial SWFs are private funds created from resource rents with the appearance of public investment-holding firms that use governmental legitimacy to invest at home and abroad, managed indirectly by political leaders or their families in order to advance a political agenda, wealth accumulation, patronage, repression, and loyalty.

Suggested Citation

  • Larissa Nawo & Désiré Avom & Kyle McNabb & Luc Nembot, 2019. "Unofficial sovereign wealth funds and duration in power in Africa," WIDER Working Paper Series wp-2019-57, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:wp-2019-57
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    References listed on IDEAS

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