Angola goes after diversification

Kanika Saigal
Published on:

The fall in the oil price and the de-dollarization of the economy has done even more to highlight Angola’s over-dependence on oil. As a result, the diversification of the economy is higher-up on the government’s agenda than ever before.

"We focus on industries away from the oil sector, concentrating on technology, agriculture, healthcare and food processing," says Teodoro Jesus Poulson, on FACRA’s investment committee

One of the most recent drives towards diversification has been the subtle change the government has made to its private investment law. 

Towards the end of July this year, it presented a draft law on private investments, streamlining the bureaucratic process, looking to speed up and increase FDI to the country. 

The reinvigorated law continues to emphasise a preference for investments in sectors...