The International Forum of Sovereign Wealth Funds (IFSWF) is pleased to present its latest research report, Bridging the Gulf, which explores the pivotal role of sovereign wealth funds in accelerating the development of securities exchanges across the Gulf Cooperation Council (GCC) and Africa. Drawing on market data, interviews, and thematic analysis, the report offers actionable insights and a practical toolkit for policymakers and IFSWF members.
This study highlights Africa’s emerging exchange landscape and examines how social and technical factors jointly shape the development of effective and resilient market systems.
“You can have a world-class exchange… but if you do not have government support, it’s very difficult to make that exchange successful.” – GCC Exchange
Key Highlights
- GCC equity markets grew from $3.6 trillion in 2021 to $4.4 trillion in 2023, supported by sovereign wealth fund interventions.
- Seven core themes identified: Strategic Vision, Governance, Innovation, Regulation, Organisational Capabilities, Communication & Trust, Partnerships.
- Practical toolkit for bridging social and technical gaps in exchange development.
- Case studies from Oman, Qatar, Abu Dhabi, Saudi Arabia, and Africa.
- IPO activity has shifted from large state-owned enterprises to a more sustainable pipeline of private-sector offerings.
- The report identifies three “bridging themes” where sovereign wealth funds have the strongest impact: strategic vision, governance, and organisational capability.
- African case studies illustrate how sovereign wealth funds support market creation, talent pipelines, and cross-border investment structures.