Luanda - The Angolan government continues to invest heavily in economic diplomacy, to improve its reputation before partners and international organizations, with a view to attracting more investment, especially from the private sector.
By Francisca Augusto, ANGOP journalist
In the last five years, Angola has gradually improved its image with potential foreign investors, largely due to the sharp economic diplomacy, a trademark of the current Government, which has resulted in greater international acceptance.
In this period, marked by profound reforms, especially in the economic field, the gains achieved by the country are visible, from attracting strategic investors to the recovery of assets, indispensable for the country.
So, the Angolan State has been able to establish strategic partnerships and openness with major financiers, for the allocation of loans, financing or renegotiation of the country's debts.
As a result of this action by the Executive, for example, until 2018, Angola obtained global funding of US$11.2 billion and €579 million to finance various internal projects until 2023.
In addition to the financing, the diplomatic activity resulted in the return of the South African multinational De Beers, which had left Angola, as well as American investments in the clean energy and telecommunications sector, in the latter of which was the installation in national territory of the telephone operator Africel, which became the second largest in the country and surpassed, according to data, Movicel, in terms of customers.
In the field of clean energy, Angolan diplomatic action has also resulted in the implementation of the mega solar power plant projects of Biópio and Baía Farta, in the province of Benguela, in operation since 2022.
The others are in the cities of Cuito, Bié province, Luena (Moxico), Bailundo (Huambo) and Saurimo (Lunda-Sul), in an investment of more than 500 million euros.
For this purpose, Angola is being financed by the consortium that brings together the US company Sun Africa LCC and the Portuguese construction company MCA (M.Couto Alves, S.A.).
With the start of operations of the first two 285 megawatt (MW) photovoltaic plants in Benguela province, the country has entered the list of solar energy producers in Africa.
With a total installed capacity of 188.8 megawatts of electricity, enough to supply more than one million people,
The photovoltaic plant in the commune of Biópio, municipality of Catumbela, with a total installed capacity of 188.8 megawatts of electricity, enough to supply more than one million people, is the largest solar energy project in Angola, totaling 509,400 solar panels.
The second solar power plant, with 96 megawatts of power, is expected to benefit half a million consumers and is on the outskirts of the municipal village of Baía Farta, in an area of 186 hectares. It has 261,360 solar modules.
These are tangible gains brought by Angola's foreign policy, which has helped, in addition to the economic component, to place the country at the center of major political decisions in Africa, especially in the Great Lakes Region.
This view was corroborated by Matias Pires, speaking to ANGOP, still as a political analyst, when highlighting the achievements of President João Lourenço, since 2017, stressing that Angola has been gaining prestige in the field of economic diplomacy, despite being a process that requires patience.
He recalled that João Lourenço came to power at a time when the country had been experiencing a deep economic recession since 2014, aggravated by the abrupt drop in the price of oil on the international market, and faced the harsh impact of the Covid-19 pandemic in 2020.
Matias Pires stressed that the country ended up feeling the negative impact of these events, but managed to capitalize on foreign investment from the Iberian Peninsula, the United States of America (USA), Arabia, as well as China.
'But we can also evolve a little towards the center and look at Turkey, which seeks to intensify cooperation with Angola. We had the visit of President (Recep) Erdogan to our country and established air links with Turkey Arlines', he reinforced.
He also highlighted the Lobito Corridor as a source that has attracted and continues to attract private investment to the industrial economic zones of Luanda and Bengo, as well as for the construction of an aluminium zone in Bengo, in a Chinese investment.
The Lobito Corridor is seen as a counterweight to China's Belt and Road Initiative in Africa, so Western countries, including the US, are investing in this infrastructure to diversify trade routes and ensure access to vital minerals in the region.
Its operationalization will contribute to economic growth and regional integration, promoting stability in this area of the African continent.
On the other hand, Matias Pires said that Angola's participation in the US-Africa summit is a demonstration that the country is developing economic diplomacy well, despite the situation it is experiencing.
He also pointed to the expanded financing agreement with the International Monetary Fund, which allowed the restructuring of the economy, and the reduction of restrictions on correspondent banks for access to foreign currency, as another of the gains of Angola's foreign policy.
In his view, the lack of foreign exchange restrictions improved the business environment, as it allowed foreign investors to export their dividends in foreign currency.
It should be remembered that the Simplifica Process, which aims to reduce bureaucracy in procedures, the revision of the Private Investment Law, the fight against corruption and the end of monopolies to stimulate free and healthy competition have been contributing to the improvement of the business environment in Angola.
The country has also joined the initiative of transparency in the extractive industries, which allows international institutions dedicated to these areas to monitor tax payments at the level of oil exploration contracts and others, thus ensuring transparency in this vital sector of the economy.
U.S.-Africa Business Summit
It is based on this diplomatic dynamic that Angola will host, in June 2025, the 17th US-Africa Business Summit.
The choice of the city of Luanda follows the meeting held between the President of the Republic, João Lourenço, and the president of the Corporate Council on Africa, Florizelle Liser, in May this year, in the city of Dallas, Texas.
The nomination of Angola as a host country is a testament to its remarkable progress and potential as a key player in the African economy.
The country will have the opportunity to showcase its industrial potential, from energy, infrastructure, agriculture and technology to highlight investment opportunities and promote sustainable development.
Likewise, the event represents a crucial opportunity for the search for effective and sustainable solutions for the diversification of the African economy, the increase of trade, business in areas with a high impact on the lives of North American and African populations and companies.
The U.S.-Africa Business Summit in 2025 will be a significant milestone, as it takes place in the same year that Angola celebrates the 50th anniversary of its National Independence and will assume the Presidency of the African Union (AU).
The event is recognized as one of the most important business platforms that annually brings together African Heads of State and key ministers, senior officials of the US administration, heads of key agencies, CEOs and senior executives of American and African companies.
For this edition, the Government of Angola and the Corporate Council on Africa estimate the participation of more than 1,500 delegates, including African heads of state, senior U.S. Government officials, CEO's, investors and entrepreneurs.
The Summit will feature plenary sessions, panel discussions, investment pitch sessions, networking opportunities, an exhibition with innovative products and services, as well as the signing of agreements and the establishment of business partnerships
Rotating presidency of the African Union
For political analyst Osvaldo Mboco, Angola is a country that gathers the consensus of the majority of African Union (AU) member states on issues of prevention, management and resolution of conflicts in Africa, and has one of the most organized armies in sub-Saharan Africa.
He opined that Angola is politically and militarily stable and has been working to find solutions to African problems, especially in the Great Lakes Region, where it plays a very active role.
Due to all its surroundings, at the 43rd Summit of the Heads of State and Government of the Southern African Development Community (SADC) the member states of this organization indicated Angola as the region's candidate to assume the presidency of the AU in 2025, when the country will celebrate 50 years of independence.
According to the expert, by assuming the presidency of the AU, Angola, under the leadership of President João Lourenço, designated 'Champion for Reconciliation and Peace in Africa', by the AU, will increase its prestige in several issues that can change the political agenda turned, in this period, to boost Angolan diplomacy.
It should be recalled that the AU awarded this title to the Angolan President due to his engagement in pacification on the continent, especially in the Great Lakes Region and other areas.
Osvaldo Mboco added that the country can bring several advantages, including the opportunity to lead discussions on important issues for the African continent, such as the economic integration process, security, peace and regional stability.
Additionally, it can strengthen its international position, increase diplomatic influence, and provide a platform to promote its interests and values within the African continent.
In his opinion, the country is one of the main actors in terms of conflict management and resolution in Africa, which allows it to gain visibility on the international stage.
In this way, he stressed, it is recommended that the 'Angolan Peace Agenda for Africa' serve as an important instrument to maximize national interests in the different regional and global organizations in which it is located. FMA/ART/ADR/DOJ
