The net value of the investment portfolio of the Angolan Sovereign Fund on 31 December, 2015 was US$4.7 billion, with venture capital funding accounting for 58 percent of the total, the fund said in a statement.
The statement said that 19 percent of the US$1.1 billion of the infrastructure fun is invested in projects in Angola and Kenya, 23 percent of the US$500 million in the hotel fund has been channeled into projects in Angola and Zambia, 10 percent of the US$220 million of the mining fund have been applied in Mauritania and 12 percent of the US$190 million in structured capital have been invested in South Africa.
“The investment horizon of the net assets of these venture capital funds is three to five years, whereas the period of application can extend to 10 years, and it is expected that the planned application of US$3 billion for the seven venture capital funds will be fully applied by 2020,” the statement said.
The Angola Sovereign Fund was created by the government in 2012 with an initial allocation of US$5 billion, which has already been fully transferred by the state, namely through revenues from oil exports. (macauhub/AO)