In the Angolan capital Luanda, Macron chaired an economic forum, attended by more than 50 French companies, and focused on agriculture. The two governments penned an agreement to boost Angola’s agricultural sector, particularly “climate resilience and water security” in addition to help revamp the coffee sector, said Macron.
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US agri-food group Dagan plans to set up a fish farming agribusiness complex in Angola by 2024, with an estimated annual production of 20,000 tons of fish. The project will be set up in an overall area of 25 hectares, of which 20 will be on land, along the sea and river coast, for the installation of 14 10,000 square meter fish breeding tanks. Another 4 hectares of land are earmarked for cultivation of cereals to produce protein/feed for fish and people’s consumption, and 1 hectare on the high seas for captive breeding of referenced fish species.
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According to International Monetary Fund – IMF’s recent World Economic Outlook, five of the world’s fastest-growing economies in 2023 are Angola, Ethiopia, Nigeria, Kenya and South Africa.
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Angola’s economy is on the rise and the country is showing marked signs of improvement in the economy. With a perimeter of over 4700 hectares, the Luanda/Bengo SEZ is the largest space in Angola for the implementation of industrial projects, also integrating a commercial hub, housing projects, green areas and roads.
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With a current electrification rate of 10% in rural areas, the Government of Angola has instituted an ambitious plan to establish incentives and implement a program for the productive use of renewable energies to address rural and agricultural demand.
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Angola has an abundance of arable land and a diversity of climatic conditions that are suitable for producing a variety of agricultural products. In fact, the country was once a major producer and exporter of agricultural products, including coffee, cotton, and bananas.
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The Atlantic port of Lobito, along with the Benguela railroad, makes up the Lobito corridor. It’s the quickest export route for copper, cobalt and other ores from Zambia, the Democratic Republic of the Congo and beyond. With the railway renovated, the Port of Lobito is being privatized with a 20-year concession.
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With the fight against corruption serving as the cornerstone of Angolan President, João Lourenço’s administrative policies since taking office in 2017, the integration process follows a request made by Angola’s Government in 2020 to join the Extractive Industries Transparency Initiative (EITI). The country’s Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, stated that all the procedures required by the organization for acceptance as a member have been fulfilled.
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