20 December 2012

Angola: Sovereign Fund Announces Goals for 2013/2014

Luanda — The Angolan Sovereign Fund (FSDEA), a mechanism that was recently created by the government, announced Thursday here the main goals for the 2013/2014 biennium.

According to a note published by the institution, with the search for investment in Angola and at international level, and having the mission to promote the country's socioeconomic development and generate wealth for the future generations of Angola, in its official launch the FSDEA assumed the commitment to functioning in a totally transparent and and responsible manner.

The note states also that the publication of these goals reflects the commitment of the fund to accomplishing the mission and outlining a reference for all the Sovereign Funds that operate in the region.

Thus, the institution announces for the first quarter of 2013 the publication of its Investment Policy approved by the government, in the second quarter the publication of its Social Charter, besides the

appointment of internationally recognised auditors.

The note state also that every six months there will be an update of the FSDEA, including the issuing of comments made by government officials regarding investment activities.

In the first quarter of 2014, it is scheduled the presentation of the audited annual report of the FSDEA, the rating of the fund through the Linaburg-Maduell Transparency Index.

Besides these goals, the FSDEA has also made the commitment to supply updated information to the international markets and national public regarding relevant facts such as the great investments, selection of external consultants and other developments worth mentioning.

According to Armando Manuel, chairman of the FSDEA, demonstrating its total commitment to transparency and responsibility towards the Angolan people, the fund has the pleasure to confirm the schedule of its goals and the divulging of references.

"In our opinion, the level of knowledge and information that the FSDEA intends to divulge to the public will enable the Angolan people to monitor the progress of the fund in the promotion of Angola's socioeconomic development and the creation of wealth for the future", Armando Manuel concluded.

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