| Sovereign wealth funds are the must-have fashion accessory for every rich and autocratic regime. Angola is late to the party, and its $5-billion in seed money is paltry compared to the big boys. Nonetheless, this will make Angola’s the second largest such fund in sub-Saharan Africa, and maybe, just maybe, diversify its oil-dependent economy.
Given the southern African country’s vast but finite oil reserves, it makes good business sense to invest some of its billions in other, less volatile areas, and sovereign wealth funds are currently the favourite way for resource-rich states to do just that...............................................Full Article: Source
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