UNTAPPED BUSINESS OPPORTUNITIES BEYOND OIL AND GAS
Beyond oil and gas, Angola offers significant untapped business opportunities in a context of rapid economic liberalisation.
Key non-oil growth sectors in Angola include mining, infrastructure, tourism, telecommunications, banking and agriculture. Of these, investment in infrastructure is already very significant, but technology is a growing business, with a strong demand in sectors such as farming and energy, especially off-grid and renewables.
With half of the Angolan population under the age of 20, the appetite for consumer technology will continue to increase in years and decades to come.
ATTRACTIVE INVESTMENT FRAMEWORK
In line with the 2018-2022 National Development Plan, the Government is implementing an ambitious programme to diversify the local economy and stimulate innovation, having already introduced several measures to improve the business environment, strengthen the country’s infrastructure, attract private investment, and promote strategic partnerships.
As an example, the 2018 Investment Law liberalizes the repatriation of profits and capital gains and introduces an array of fiscal incentives. The Angolan Government has also focused on macroeconomic stability and good governance, with the IMF approving a three-year USD 3.7 billion loan in early December 2018.