Farouk Gumel Appointed Chairman of Botswana Sovereign Wealth Fund

Economic Confidential reports that Mr. Farouk Gumel, a renowned Nigerian corporate leader, has been appointed Chairman of the Board of Directors of the Botswana Sovereign Wealth Fund Limited (BSWF) by the President of Botswana, His Excellency Advocate Duma Gideon Boko.

The announcement was made at the official launch of the multi-billion-dollar fund at the President’s office in Gaborone, Botswana. The BSWF is designed to channel resource revenues into strategic investments in infrastructure, healthcare, technology, and renewable energy, thereby reducing the nation’s reliance on diamond mining. It is projected to evolve into one of Africa’s largest sovereign wealth funds.

Gumel, currently the Vice Chairman of Tropical General Investments (TGI) Group, is the immediate past Chairman of the Nigerian Sovereign Investment Authority (NSIA). His leadership at NSIA was widely noted for deepening governance and transparency in Nigeria’s sovereign investment management.

Prior to joining TGI, Gumel served as Partner and Head of PricewaterhouseCoopers’ (PwC) West African Advisory and Consulting business, overseeing operations across Nigeria, Ghana, Liberia, Sierra Leone, and Angola. His PwC career, which spanned from 2002 to 2015, also took him across the United Kingdom, United States, and West Africa.

An accomplished academic, Gumel graduated with a First-Class Bachelor’s degree in Materials (Leather) Technology from the University of Northampton in 2000, before earning a Master’s degree with Distinction in Clean Technology from the University of Newcastle Upon Tyne in 2001.

President Boko described the appointment as strategic, noting that:

“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.”

Gumel’s appointment is seen as a major boost to regional cooperation, symbolizing the growing integration of African expertise in driving sustainable resource management and investment diversification.