Angola’s Sovereign Wealth Fund – the US $5 billion logo

The Angolan Sovereign Wealth Fund (FSDEA) was launched in October to great fanfare, receiving global media coverage from the likes of the New York Times, CNN and Euromoney. Local and international journalists packed into the shiny new offices by Sagrada Família upmarket area in Luanda to admire the glass and steel spiral staircase, lacquered furniture and raw silk wallpaper. They were given stylish press packs featuring black and white photographs of smiling Angolan children and told how the FSDEA would change Angola for the better and preserve the country’s great oil wealth for the use of future generations. After a lavish lunch buffet complete with drinks served by a suited barman, there was a film shown by a South African production team who had collated clips of “ordinary” Angolans saying how much they loved their country, and a mumbled speech and Powerpoint presentation from Board Chairman Armando Manuel. In the […]

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