Angola’s Sovereign Wealth Fund (FSDEA) has announced the appointment of Deloitte as its independent auditor to ensure transparency across its operations.

Deloitte, the largest auditing and financial advisory firms in the world by revenue, will help FSDEA achieve an international standard of transparency recommended for sovereign wealth funds.

Aside auditing, the UK-based professional service is expected to develop strategies that will foster economic expansion, build commercial infrastructures and support social and economic growth.

Commenting on the appointment, Angola’s Finance Minister, Armando Manuel said it was a significant milestone in the Fund’s development that will ensure accountability.

“By building strong foundations, the Fund will be able to play its role in the social and economic development of our country,” he said.

The appointment of Deloitte is expected to propel FSDEA’s vision of  increasing investments in the agriculture, mining, infrastructure and real estate sectors, that supports long-term socio-economic growth.

José Barata, a Partner at Deloitte, confirmed the company’s pledge to promote the fund by offering its expertise on investments that will benefit the country’s present and future generations.

Deloitte is scheduled to audit the fund’s accounts for 2013 financial year by mid 2014.