Africa-Press – Angola. The Angolan Sovereign Wealth Fund’s (FSDEA) net investment portfolio posted a 9.5% return in 2024, exceeding the projected 5% target, the institution announced on Friday.
According to a note, this result was driven by strategic exposures in technology, financial services, telecommunications, and industry, mostly allocated to North America.
Furthermore, the FSDEA maintained allocations in high-quality fixed-income securities issued by G7 governments and corporations, reinforcing the portfolio’s stability.
This portfolio was actively maintained and diversified, with the majority of resources allocated to four leading global external asset managers: Ninety-One UK Limited, Oaktree Capital Management (UK) LLP, Western Asset Management Company Limited, and Alliance Bernstein Limited (AB).
In turn, the alternative investment portfolio achieved a 5% return, growth sustained by a diversified set of assets in sectors such as agriculture, mining, hospitality and healthcare, with a geographic focus on Sub-Saharan Africa.
Sector diversification was further strengthened in 2024 with the acquisition of equity stakes in African multilateral financial institutions, namely: Africa Financial Corporation (AFC), Trade Development Bank (TDB), and Africa Export and Import Bank (AfreximBank).
These assets offer consistent returns and aim to strengthen FSDEA’s strategic positioning within major pan-African financial platforms, facilitating access to financing for structural projects, the document states.
Regarding medium-term prospects, FSDEA will continue the strategy defined for the 2024-2028 five-year period, focusing on asset diversification and maximizing sustainable returns.
Highlights include the completion of its participation in the Amufert project, with a capital investment of USD 110 million, out of the USD 300 million committed. According to the statement, this is an integrated industrial complex for the production of fertilizers (ammonia and urea) to be built in the municipality of Soyo, Zaire province.
This investment is part of the Fund’s strategy to support the agro-industrial sector, aiming to strengthen the agricultural supply chain, reduce dependence on imports, and promote national productivity.
It also includes the streamlining of financing for the operationalization of the Sheraton Hotel Luanda, strengthening the high-end hotel portfolio.
The progress of the pharmaceutical projects Vitalflow and Thera, focused on domestic production and innovation in the healthcare sector, and the animal protein project, for domestic chicken production, are also included in the actions.
According to the FSDEA, the 2024 performance confirms its commitment to sustainable value generation, strategic asset diversification, and the promotion of Angola’s economic development.
The liquid and alternative investment portfolios demonstrated resilience, solidity, and growth potential, consolidating the Fund as a relevant player in the national and international context.
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