Articles

Sovereign wealth funds (SWFs) have traditionally been created to recycle excess reserves from natural resource or non‐commodity revenues. However, in recent years funds are being established under conditions of capital scarcity with objectives to contribute domestic economic development, often through the buildout of national infrastructure programs. Such trends in new fund creation represent a fundamental shift in the sovereign wealth fund paradigm and raise serious questions about how these entities are to be capitalized and also the implications of capitalization models on their sustainability. This study examines the recent evolution of SWF models focused on economic development. Its analytic focus is drawn, in particular, to countries that are neither endowed with oil wealth, nor otherwise enjoy export surpluses to be used to capitalize a development‐oriented SWF. While this study is relevant to and expands the scope of the broad literature on SWFs, its specific contribution is as a focused analysis of how SWF funding sources impact achieving long‐term financial and socio‐economic development objectives.

Cell phone use has grown faster in Africa than in any other region of the world since 2003....Of course, South Africa—the most developed nation—still has the highest penetration, but across Africa, countries have leapfrogged technology, bringing innovation and connectivity even to remote parts of the continent, opening up mobile banking and changing the way business is done.

"...it is a mistake to see high prices as a proxy for actual hunger. Most of the world's hungry citizens do not get their food from the world market, and most who rely on the world market are not poor or vulnerable to hunger."

China's Ministry of Science and Technology launched the China-Africa Science and Technology Partnership on November 24, 2009.  The ministry announced that technological cooperation will be enhanced in areas such as water management and conservation, sanitation, crop breeding, health, and renewable energy. One hundred joint research partnerships will be created, and 100 African scientists at the postdoctoral level will have the opportunity to conduct research at China's technology parks, research institutes, and private enterprises. Chinese scientists and engineers will also travel to African countries to provide technical guidance, and in order to increase the research capacities of African countries, China will also donate laboratory equipment.

Science, Technology, and Globalization Project Director Calestous Juma shared his insights into the history and future of Sino-African relations in a February 2008 interview with that's China columnist Jing Zhang.

"I would urge every scientist and engineer with an interest in the intersection of S&T with sustainable well-being...to 'tithe' 10% of your professional time and effort to working in these and other ways to increase the benefits of S&T for the human condition and to decrease the liabilities. If so much as a substantial fraction of the world's scientists and engineers resolved to do this much, the acceleration of progress toward sustainable well-being for all of Earth's inhabitants would surprise us all."