6. Natural Resources Management, Sovereign Wealth Fund, and the Green Economy: Digitalization, Policies, and Institutions for Sustainable Development in Africa

There is no denying that the development of any society requires complex interactions between human and natural resources. Human resources range from essentials like the knowledge base of the society, including the human capital that can be brought to bear on institutions and institutional capacity in a wider socio-political environment. Natural resources, both renewable and non-renewable, have assumed a pivotal role in the development discourse for a long time. Since Africa is endowed with huge reserves of natural resources, it is possible, with the appropriate human resources, to improve the development trajectory of the continent. One institutional framework at the heart of natural resources management in African countries is the sovereign wealth fund (SWF). While several African countries have established SWFs, the question is how natural resource wealth can be harnessed effectively in the transition to the green economy. In addition to an analysis of the performance of SWFs, the chapter focuses on the African countries that produce rare mineral resources critical to the transition to the green economy. The chapter further examines the role of and how digitalization can facilitate natural resources management in terms of SWFs and the green economy with the appropriate policies and institutions for sustainable development in Africa.