18.10.2012 - Angola fund set to invest oil revenue in businesses
Angola’s government announced Wednesday the creation of a sovereign wealth fund that will invest profits from oil sales in businesses in an effort to diversify the country’s economy and spread prosperity beyond the small elite that has benefited from Angola’s outsize economic growth. The Angolan fund, which will focus on investments in Africa’s booming hotel industry and large infrastructure projects, seeks to wean the economy from oil, a finite resource, to a more diversified and sustainable base, said José Filomeno de Sousa dos Santos, a son of President José Eduardo dos Santos, and a member of the fund’s board...............................................Full Article: Source
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