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24 March 2022
EU-Angola Business Forum

OVERVIEW

  • Location: in Southern Africa on the west coast of the continent. Bordered with the Atlantic Ocean to the West; Namibia to the South; the Democratic Republic of Congo to the North and East; and Zambia to the East.
  • Geography: has a rainforest in the north, just over 1000 km of Atlantic coastline from north to south, an interior highland rising between 1,200 m and 1,800 m, and savannas in the interior south and southeast. The highest Peak in Angola is Morro de Moco at 2,620 m above sea level.
  • Languages: Portuguese (official).
  • Political System: Democratic Presidential Republic.
  • Current President: João Manuel Gonçalves Lourenço, since 2017.
  • Currency: Kwanza (AOA).
  • Capital: Luanda is inhabited by 8 M people, approximately the same as Switzerland.

EU

ANGOLA

RANKING

Area (sq. km)

4,172

1,246,700

5th largest in Africa

Population

448 M

32 M

9th largest in Africa (similar to Poland)

GDP (nominal)

€ 13.50 T

€ 55.02 B

8th largest in Africa (similar to Bulgaria)

GDP per capita

€ 30,154

€ 1,672

16th largest in Africa

* Source: WITS, World Bank, 2020

WHAT CAN ANGOLA OFFER TO BUSINESS?


Gateway to Access Southern & Central Africa

  • Its geostrategic position allows investors access to the regional market (SADC) of 16 countries, with a total GDP of USD 600 billion, and more than 200 million consumers.
  • Access by sea, with four neighboring countries: D.R. Congo, Congo Brazzaville, Zambia, and Namibia.


High Potential of the Internal Market

  • The market is composed of mostly youth, 70% under ’30s.
  • This Young population means that the cost of labor for less-skilled workers is very low.
  • Angola possesses a considerable market of more than 30M inhabitants with a GDP per capita of € 1,672.
  • Investment in the priority sectors carries the possibility of replacing imports in the amount of US $ 3.3 billion.


Diversity and Abundance of Natural Resources

  • Minerals: Access to 38 of the top 50 minerals used in various industries, such as diamonds, iron, gold, phosphates, manganese, copper, lead, zinc, volphamium, tungsten, titanium, chromium, marble, granite, and uranium. Angola is the second-largest oil producer in sub-Saharan Africa and one of the largest in the mining industry.
  • Agriculture: The presence of several microclimates allows for a variety of agricultural production during the 12 months of the year, with  35 million hectares of fertile land of which only 14% is being used.
  • Forest: 69M Ha (hectares) of forestry extension comprised of woods of great economic values such as ebony, African sandalwood, and rosewood, and commercial plantations of pine and eucalyptus trees.
  • Fisheries: Access to just over 1000 km of coastline with abundant stocks of fishery products such as mackerel and tuna, shellfish, sardines, and seafood, among others.

Political Stability with Young Population

  • Political stability since 2002.
  • Regular presidential elections.
  • A stable Parliament with the representation of 5 parties.
  • Young and growing middle-class workforce.


Angola is Determined to Attract Investment and Improve its Business Environment

  • Attractive for FDI in recent years. International financial support.
  • Long-term strategy (LTS 2025) foresees important infrastructure investment projects that constitute major business opportunities.
  • Bilateral agreements on the promotion and protection of investments with several countries, with an emphasis on Germany, Spain, Italy, Portugal. Outside the EU, it has agreements with the UK, Russia, Switzerland, South Africa, and Guinea Bissau.


Support to EU investors

The Angola-EU Sustainable Investment Facilitation Agreement (SIFA) is about to be concluded. The agreement will be enhancing the transparency of investment measures, simplify procedures, promote responsible investment, contribute to Angola’s economic diversification and help small and medium-sized enterprises (SMEs). 

The negotiators behind this agreement will be there to explain how firms can make the most of it when investing in Angola.

CHALLENGES

  • High vulnerability to oil price fluctuations: 98% of export earnings come from oil production.
  • High level of Bureaucracy.
  • The challenging judicial system.
  • Inadequate infrastructure, i.e. roads, energy, telecommunications, and water.
  • Lack of sufficient qualified workforce and skilled labor.
  • The high unemployment rate sustains the high poverty rate.

Key documents

Registration
Closed since 24 March 2022
Organised by
Participants
Algeria 1
Angola 425
Austria 5
Belgium 76
Botswana 2
Burundi 1
Canada 3
Cape Verde 2
Congo 1
Croatia 4
Estonia 1
Ethiopia 1
France 23
Gabon 1
Georgia 1
Germany 34
Greece 4
Hungary 6
India 1
Israel 1
Italy 77
Japan 1
Kenya 3
Latvia 1
Lebanon 2
Liberia 1
Libya 1
Lithuania 1
Luxembourg 3
Macau 1
North Macedonia 1
Malta 1
Mozambique 3
Namibia 2
Nepal 1
Netherlands 22
Niger 1
Nigeria 4
Norway 1
Poland 5
Portugal 117
Romania 6
Russia 3
Sao Tome And Principe 1
Serbia 1
Sierra Leone 1
Slovakia 1
South Africa 12
Spain 22
Sweden 3
Switzerland 6
Tanzania, United Republic Of 1
Togo 1
Turkey 2
Ukraine 1
United Arab Emirates 5
United Kingdom 11
United States 7
Zambia 11
Zimbabwe 1
Total 938
Participants
Private company 596
Business support organization 94
Public official / Government 159
Other 89
Total 938