Vice Chairman, Africa for Tropical General Investment (TGI) Group, Mr. Farouk Gumel, has been appointed by the President of Botswana, His Excellency Advocate Duma Gideon Boko as the Chairman Board of Directors of the Botswana Sovereign Wealth Fund Limited. Gumel is also the 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.
In a statement, 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:
According to him, “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.“This is a foundation upon which we will diversify our economy, open new frontiers of opportunity, and build lasting prosperity for future generations
We are sending a message to the world that Botswana is ready to compete, invest, and lead.”The BSWF, he stated, is designed to reduce the nation’s historical reliance on diamond mining by channeling resource revenues into strategic investments across diverse sectors such as infrastructure, technology, healthcare, and renewable energy. It is believed the fund will be amongst the largest in Africa.“Farouk Gumel will chair a deeply experienced and diverse board selected to provide comprehensive and strategic oversight. The board’s composition reflects a powerful blend of local expertise and global vision, uniting key national and international figures,” he said
Botswana is a diamond rich country in southern Africa
