Angola to outline sovereign fund policy in Q1
LISBON Dec 19 (Reuters) - Angola plans announce the investment policy for its new $5 billion sovereign wealth fund in the first quarter of next year, the fund's management board said in a statement on Wednesday.
The fund was launched in October to invest in domestic and overseas assets by funnelling Angola's vast oil wealth into infrastructure, hotels and other high-growth projects.
Angola, Africa's second-largest crude producer, is looking to diversify its oil-dependent economy by developing infrastructure outside the energy industry. The country was devastated by a 27-year civil war that ended a decade ago. (Reporting by Shrikesh Laxmidas; editing by David Dolan)