Angola: Govt Launches $5 Billion Sovereign Wealth Fund

17 October 2012

Angola follows in the footsteps of fellow hydrocarbons giant Nigeria by launching a sovereign wealth fund.

Africa's second biggest oil producer, Angola, has launched a sovereign wealth fund to save its oil revenues and ease the impact of commodity price volatility. The Fundo Soberano de Angola, or FSDEA, has $5bn in assets and mandate to promote economic and social development.

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