Angola launches $ 5bn Sovereign Trust Fund to reduce future reliance on oil revenues . Dos Santos says the aim of the fund is to invest profits accrued from oil to promote social development in the country . Angola is Africa 's second largest exporter of oil -- more than ninety percent of the country 's GDP comes from oil production . The country ranks poorly on measures of corruption and little of the oil revenue has been spent on improving public services . In an exclusive interview , President 's son told CNN that fund will be transparent and independently audited .
Angola launches $ 5bn Sovereign Trust Fund to reduce future reliance on oil revenues . Angola is Africa 's second largest exporter of oil -- more than ninety percent of the country 's GDP comes from oil production . The country ranks poorly on measures of corruption and little of the oil revenue has been spent on improving public services . In an exclusive interview , President 's son told CNN that fund will be transparent and independently audited .