Africa-Press – Angola. The Angolan Sovereign Fund (FSDEA) ended 2024 with a net profit of 175.8 million dollars (162.2 million euros), 12% less than the 199.3 million dollars (183.8 million euros) recorded in the previous year.
According to the report and accounts published by the institution, despite the drop in profits, the fund recorded growth in assets, which rose 5% to 3,990 million dollars (3,678 million euros), while equity reached 3,985 million dollars (3,674 million euros).
The net profitability of investments fell slightly to 10% (minus one percentage point compared to 2023), while alternative investments yielded 5% (minus 1 pp).
Net profitability on assets and equity fell from 5.2% to 4.4%, according to the document consulted by Lusa.
The FSDEA’s dependence on the State is significant, considering that the amounts receivable amount to 1,444 million dollars (approximately 1,331 million euros), equivalent to 36% of the total assets of 3,990 million dollars.
The total portfolio reached 2,434 million dollars (2,244 million euros), divided between 1,730 million dollars (1,595 million euros) in liquid assets and 704 million dollars (649 million euros) in alternative investments.
In liquid assets, which represented 71% of the portfolio, the fund favored stocks (43%), especially in North America, with a strong weighting in the technology and financial sectors, followed by debt (30%) and investment funds (16%).
In alternative investments, valued at US$704 million, in sectors such as agriculture, mining, hospitality and healthcare in Sub-Saharan Africa, the return was 5%.
The report also highlights economic diversification projects and investments in financial institutions carried out in 2024.
The FSDEA structured three projects in the poultry sector and two others in the fertilizer industry and established investment agreements in two pharmaceutical projects, located in Huambo and the Luanda-Bengo Special Economic Zone.
In the fourth quarter of 2024, the FSDEA invested approximately $52 million (€44 million) in Multilateral Financial Institutions, holdings that “strengthen portfolio diversification, facilitate access to infrastructure projects, high-quality trade, and promote regional economic development.”
In October 2024, FSDEA announced a $20 million (€17 million) investment in FG Gold Limited, a gold exploration and development company based in Freetown, Sierra Leone, becoming the first institutional shareholder in this mine, which is presented as one of the largest gold development projects in Africa.
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