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Sovereign Wealth Funds Briefing - Categorized | Market

Angola: Oil in the president’s family - Keeping it global

Posted on 06 March 2013

A few months late to this story, the Wall Street Journal published a piece last Wednesday entitled “Angola Wealth Fund is Family Affair.” This was widely reported in the international press back in the fall when the Fundo Soberano de Angola was officially announced.
The Fund, started with $5 billion, now puts Angola in line with other OPEC nations, which also have funds to protect against oil price volatility, to secure the future when oil runs out, to build infrastructure, and/or to diversify the economy. Angola could use all these. According to one prominent member of the board, the emphasis will be on diversification and wealth creation………………………………………..Full Article: Source


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