Confidence is not a word easily associated with Angola of late. The oil price plummet has left a gaping hole in the government’s budget, the value of the kwanza is volatile, and the country still needs significant levels of investment to remedy deficiencies in healthcare, education, infrastructure and agriculture.
Yet while these problems play out, the horizons of the country’s sovereign wealth fund, the Fundo Soberano de Angola (FSDEA), are expanding. “We believe we are now in an exciting stage in our development, and we are in good shape to make slightly more complex investments,” says its chairman, José Filomeno dos Santos, who is the son of the current Angolan president. “It is true that we are a relatively new fund and that we have a long way to go to fully establish ourselves as a leader in the sovereign wealth fund area. But, we have a clear investment mandate and much scope for growth.”
