Reliable Development
Reliable Development
As the world’s attention shifts towards emerging markets, Angola stands out with its enormous growth potential, young and dynamic workforce, untapped resources, and favorable investment climate that make it an attractive opportunity for impact-driven investors seeking strong returns.
We will continue to work on policies and best practices to encourage and promote the private sector of the economy, to increase the supply of nationally produced goods and services, increase exports, and create more and more jobs for Angolans, especially the younger ones.
João Manuel Gonçalves Lourenço
President of the Republic of Angola
Why Angola?
Emerging market with huge growth potential
According to the International Monetary Fund (IMF), Angola should regain its position as the third largest African economy and begin a sustainable growth trajectory in the coming years, moving from a State-led and oil-financed model towards a model of economic diversification and growth led by the private sector. With a young population of 38 million and a growing middle class, Angola is also a gateway to the Southern African Development Community (SADC) region, with a population of approximately 380 million people.
The IMF estimates that the Angolan economy will grow 2.6% this year (2024). The entity’s most recent assessment highlights that in 2023 Angola remained resilient in the face of significant challenges. The institution mentions the authorities’ efforts to continue the economic reforms initiated during the Expanded Financing Program implemented in 2018 and 2021, which “helped increase the resilience of the Angolan economy”. The areas that received the most attention from the Angolan authorities include fiscal management, revenue mobilization, debt management, monetary policy and financial stability.
The IMF also highlights a positive growth of 0.9% in Angolan production in 2023, thanks to the recovery in oil extraction in the fourth quarter.
Stable Government and Security Forces
Angola’s 2023 General State Budget shows a significant investment by the Government in ensuring stability and security, with 7.9% of the budget allocated to security and public order, and an additional 7.8% allocated to military expenditure.
Favorable investment policies for priority sectors
To attract foreign investment, the Angolan Government has implemented various incentives, such as tax breaks, reduced bureaucracy, and free trade zones. According to the private investment law of Angola, a set of numerous benefits are provided for enterprises in priority sectors and special economic zones.
Agriculture, Food and
Agro-Industry
Reforestation, Forestry and Silviculture
Textiles, Clothing and Footwear
Production and Distribution of Electricity
Health Units and Services
Education, Training and Innovation
Hospitality, Tourism
and Leisure
Construction, Telecommunications and Airport and Railway Infrastructure
Basic Sanitation, Collection and Treatment of Solid Waste
Agriculture, Food and Agro-Industry
This sector is on a transformative journey. With its vast natural resources, diverse climate, and growing focus on sustainable practices, the area of agriculture, food and agro-industry is poised for significant growth.
The Angolan government is focusing on modernizing agriculture, improving infrastructure, and encouraging public-private partnerships. Investment opportunities span from modern farming techniques to agro-processing units, while sustainable practices are promoted for long-term growth.
Through strategic investments, policy support, and collaborative efforts between public and private stakeholders, Angola can not only meet its domestic food needs but also emerge as a key player in the global agricultural market. This journey towards a robust, sustainable, and export-oriented agriculture sector holds the promise of economic development, improved livelihoods, and enhanced food security for the nation.
For more information, see the Value Chain Study performed for this sector.
Reforestation, Forestry and Silviculture
This area holds vital environmental and economic significance. The aim is to combat deforestation, enhance biodiversity, and promote sustainable timber production. Despite challenges like illegal logging and limited technical capacity, Angola is actively implementing reforestation programs and fostering partnerships with international organizations for expertise and funding.
The country’s diverse ecosystems provide a platform for cultivating valuable timber species, contributing to economic growth and employment. By balancing conservation with responsible resource management, Angola seeks to preserve its forests, mitigate climate change, and ensure a lasting source of livelihoods and ecosystem services.
This sector aligns with global efforts for environmental sustainability while harnessing the economic potential of forest resources in Angola.
Textiles, Clothing and Footwear
The sector of textiles, clothing, and footwear demonstrates the growing industrial prowess of Angola. While historically dependent on imports, nowadays the country is working to establish a self-sustaining textile and clothing industry.
The sector focuses on domestic production, aiming to reduce reliance on imports and create employment opportunities. Investment incentives and partnerships with international players have bolstered its growth. From cotton cultivation to garment manufacturing, Angola aims to cover the entire value chain.
By embracing technology, innovation, and quality control, the sector seeks to produce competitive products for both domestic consumption and export. This strategic shift not only contributes to economic diversification but also supports skill development and local entrepreneurship. This sector reflects the commitment of Angola to self-reliance and economic resilience in a global market.
For more information, see the Value Chain Study performed for this sector
Construction, Telecommunications and Airport and Railway Infrastructure
This area is a pivotal driver of modernization and economic growth for Angola. Rapid urbanization has propelled robust construction activities, focusing on residential, commercial, and infrastructural projects. Additionally, the telecommunications sector is witnessing significant advancements, fostering digital connectivity and innovation.
Angola’s commitment to develop its airport and railway infrastructure enhances regional and international connectivity, promoting trade and tourism. Strategic partnerships with global players and substantial investments underscore the nation’s dedication to enhance its built environment. These sectors collectively propel Angola towards a more connected and developed future, fostering economic diversification and improved quality of life for its citizens.
Production and Distribution of Electricity
The sector of production and distribution of electricity is key in powering the nation’s progress. Angola is investing significantly in expanding its energy infrastructure to meet growing demand. Efforts are focused on diversifying energy sources, including hydropower, thermal, and renewable energy.
Investments in power generation plants and transmission networks enhance electricity access across urban and rural areas. The sector aims to foster energy security, reduce dependency on imports, and promote sustainability. Public-private partnerships and collaborations with international entities contribute to the sector growth.
By ensuring reliable electricity supply, Angola propels industrialization, economic diversification, and improved living standards. As the sector evolves, it stands as a cornerstone of Angola’s development, illuminating a brighter future for its citizens and industries alike.
For more information, see the Value Chain Study performed for this sector.
Health Units and Services
This sector plays a vital role in enhancing the nation's healthcare landscape. Angola has made significant strides in improving access to medical facilities and services, especially in rural areas. Government initiatives focus on expanding healthcare infrastructure, training healthcare professionals, and increasing the availability of essential medical supplies.
The sector’s objective is to ensure quality healthcare for all citizens, addressing prevalent health challenges and reducing disease burdens. Collaborations with international organizations and investments in modern technology contribute to strengthening Angola’s healthcare system. As the sector continues to evolve, it demonstrates the commitment of the country to the well-being of its population, contributing to healthier communities and fostering socio-economic development.
For more information on this sector, access the Ministério da Saúde de Angola (MINSA) website.
Basic Sanitation, Collection and Treatment of Solid Waste
The basic sanitation, collection, and treatment of solid waste sector in Angola is integral to enhance public health and environmental sustainability. The country is committed to address inadequate sanitation facilities and managing solid waste effectively. Investments in sewage systems, public toilets, and waste treatment plants aim to improve urban and rural sanitation. Additionally, waste collection and recycling initiatives promote cleaner environments and resource conservation.
Collaboration with local communities, government agencies, and international organizations contributes to sector development. Angola’s efforts in basic sanitation and waste management reflect a commitment to the well-being of its citizens, reducing health risks and enhancing the overall quality of life. As the sector progresses, it not only promotes public health but also contributes to cleaner and more sustainable communities.
For more information, see the Value Chain Study performed for this sector.
Education, Training and Innovation
This sector is central to shape a knowledge-driven society and fostering economic development. The country emphasizes access to quality education, from primary to higher levels, to equip its youth with skills relevant to the modern workforce.
Investments in educational infrastructure, teacher training, and curriculum development aim to enhance learning outcomes. Furthermore, Angola is nurturing innovation and research, encouraging a culture of entrepreneurship and technological advancement. Collaborations with international institutions and public-private partnerships contribute to the sector’s growth. By nurturing educated and innovative citizens, Angola is positioning itself for sustained development and competitiveness in the global arena. This commitment to education, training, and innovation underscores the country’s determination to empower its citizens, bridge socio-economic gaps, and create a thriving knowledge-based economy.
For more information on this sector, access the Ministério da Educação (MED) website.
Hospitality, Tourism and Leisure
This area offers a gateway to explore the Angolan rich cultural heritage and natural wonders. The country is actively promoting tourism by showcasing its diverse landscapes, pristine beaches, and vibrant culture.
Investments in hospitality infrastructure, accommodations, and recreational facilities are driving sector growth. The historical sites, national parks, and cultural festivals provide immersive experiences for visitors. The government’s commitment to improving tourist facilities, simplifying visa processes, and enhancing safety measures is fostering a conducive environment for tourism.
Collaborations with local communities and international partners contribute to sustainable tourism development. As Angola strives to diversify its economy, the sector plays a pivotal role in attracting foreign exchange and creating employment opportunities, showcasing the nation’s unique offerings on the global stage.
For more information, see the Value Chain Study performed for this sector.
Growing population and dynamic & young workforce
Angola has a young and growing population, which can provide a sizable consumer base and workforce. As the country continues to develop, there will be increased demand for goods and services, which can be profitable for investors.
Accessible and easy-to-use banking system
The banking sector in Angola has undergone significant improvements in recent years, becoming more stable and accessible for investors seeking stability and growth opportunities.
Top improvements:
- Introduction of a new regulatory framework
- Increased transparency and accountability
- Establishment of a deposit insurance system
- Introduction of innovative technologies and digital banking solutions
- Strengthening of capital requirements for banks to enhance their financial stability and resilience
- Diversification of the banking sector, with the entry of new players and the expansion of existing banks into new areas and services.
Simplified regulations for profits and capital repatriation
Angola has recently enacted legislation to streamline foreign exchange procedures and enable investment through the approval of incentives and benefits, as well as amendments to the private investment law to facilitate the process to approve investment projects and negotiate investments.
Main imports in Angola
Comtrade, 2021
Switch imports for national production
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