About the FSDEA
Is the FSDEA considered a stabilization fund?Open or Close
All sovereign wealth funds are established to meet a similar set of mandate objectives including economic diversification, social development, wealth creation for future generations and stabilization of the economy. The long term development needs of a country determine the objectives to be pursued by their sovereign wealth fund, which ultimately provides clear direction for the fund’s investment policies.
It is widely accepted that Angola urgently requires economic diversification, social development and wealth creation. While stabilization of the economy is one part of the legislation establishing the FSDEA, the near and long term investment focus of the FSDEA will be to invest in projects to create opportunities that will positively impact the lives of all Angolans today while generating wealth for future generations.
Is this Fund linked to Sonangol and the Oil Industry?Open or Close
It should be understood that there are indirect links between the oil industry and virtually all elements of the Angolan economy. At the same time it is clear that the FSDEA is a sovereign wealth fund that has no direct links to Sonangol. Although the Fund is funded by a volume of the state’s oil sales prescribed by the Presidential Decree 48/11 of 09/03/2011(which is publicly disclosed), the FSDEA is completely autonomous and is managed by an independent Board of Directors supervised by an Advisory Council, which is headed by the Ministry of Finance.
When will the Social Charter be implemented?Open or Close
The Fund is currently in the process of finalizing the development of the FSDEA Social Charter, specifically around ways to measure the impact of social investing. The Fund will look to focus on a number of priority areas such as income generation, access to clean water, healthcare and energy, as well as education through the provision of vocational training and access to information and learning centres.
What focus will the Social Charter have?Open or Close
The Fund is currently in the process of creating the FSDEA Social Charter, which will be a commitment to promote social and economic development. The mandate of the Social Charter will be to positively impact the lives of all Angolans today and to generate wealth for future generations. The specific program areas are currently being defined. They will focus on a number of priority areas such as income generation, access to clean water, healthcare and energy, as well as education through the provision of vocational training and access to information and learning centres.
Why was the FSDEA established?Open or Close
The Fund was established with the aim to promote Angola’s social and economic development and to achieve long-term sustainable returns that will benefit the people of Angola.
How is the Fund different from other Sovereign Wealth Funds in the region?Open or Close
As the FSDEA has spent a considerable amount of time assessing international best practices for the Fund’s organizational structure, investment strategy, risk management and governance, we envision the Fund to be a benchmark for other SWFs in the region. Moving forward, we will continually measure our activities to ensure they positively impact the lives of the Angolan people.
What does FSDEA want to achieve?Open or Close
The aim of the Fund is to support Angolan social and economic development through the generation of long-term sustainable investment returns.
Who benefits from the returns?Open or Close
The FSDEA is an investment institution dedicated to the social and economic development of Angola. By pursuing investments that generate long-term and sustainable financial returns, the FSDEA plays an important role in promoting social and economic development and generating wealth for the people of Angola.
The FSDEA is developing a clear and strong long-term positioning beyond a simple economic profit maximisation strategy, by focusing part of its portfolio on investments that will lead to economic growth as well as a positive social impact for a broad part of Angola‘s population. Through this approach, the FSDEA Social Charter, it aims to unfold potentials that would otherwise go undeveloped due to a lack of investment capital.
Is FSDEA a private company or a government body?Open or Close
The FSDEA is not a private company. It is a government agency operating as a Sovereign Wealth Fund, wholly owned by the Republic of Angola. Under the Presidential Decree 48/11 of 09/03/2011 (which is publicly disclosed), the FSDEA is completely autonomous and is managed by an independent Executive Committee supervised by Head of State.
What is its association with the Government? Is the President of the Republic of Angola involved in the Fund’s decisions?Open or Close
The President of the Republic of Angola appoints the Board of Directors and the Fiscal Council, approves the Fund’s investment policy and reviews the internal regulation procedures as well as the annual audited accounts. The Government of Angola is the sole shareholder of the FSDEA.
Who leads the Fund?Open or Close
The Fund is governed by a three-member Board of Directors and an Advisory Council, which includes the Minister of Finance, the Minister of Economy, the Minister of Planning and the Governor of the National Bank of Angola.