Angola to Put Sovereign Funds Toward Commercial Property Investment
By Makula Dunbar Published: April 24, 2014, 5:41 pm
Angola’s Sovereign Fund, which was set up with initial capital of U.S. $5 billion, plans to start investing in hotels and commercial facilities in sub-Saharan Africa, its chairman José Filomeno dos Santos said.
Speaking to financial news agency Bloomberg in Hong Kong, dos Santos said that the Fund may invest in 50 hotel units in sub-Saharan African countries, including Angola.
The chairman of the Angolan Sovereign Fund said he was also analysing investments in infrastructure projects such as ports, airports and power plants and that two sub-funds would be created for the two sectors he mentioned.
Hotel investment will focus on three- to five-star units that will seek to attract businesspeople ather than tourists as this is a more stable and predictable business model.
Read more at Macauhub
Sign up for the AFKInsider newsletter — the most compelling business news you need to know from Africa and the African diaspora, delivered straight to your inbox.