Last week, the Center for Democracy and Development of Mozambique (CDD) held an online conference “Fundo Soberano de Angola: An experience to avoid”, where a possible way of managing a future Mozambican sovereign fund was discussed.
The keynote speaker was Angolan journalist and activist Rafael Marques, who uses the example of Angola’s sober fund to warn of the dangers surrounding the production of this mechanism.
In his opinion, Angola’s sober fund was doomed to failure from the beginning. Why? Observing the context of its creation, we notice that it was inserted at a time when the President of Angola, José Eduardo dos Santos (position that now occupies João Lourenço), and his family held the country’s socioeconomic monopoly and, as such, prevented any public participation and transparency in the processes.
