Africa-Press – Angola. The signing of agreements between Angola and North American financial institutions, with a view to raising 1.3 billion dollars to finance infrastructure in the country, constitutes one of the highlights of economic news last week.
The respective agreements were initialed within the framework of the 16th US-Africa Business Summit, in which Angola was represented by the President of the Republic, João Lourenço.
Other members also joined the delegation, including the Minister of State for Economic Coordination, José de Lima Massano, who, by the way, considered relevant the results obtained in this segment with financial institutions, especially with the Export and Import Bank of the United States of America (Eximbank).
According to the government official, the financing resulting from the signed agreements will help to improve infrastructure, promote economic development and social integration in Angola.
Another fact that also marked the last seven days is the availability of financing, starting at 15 million dollars, from the African Development Bank (ADB), for public and private projects in different sectors in the country.
For the same purpose, Afreximbank has other amounts, starting at five million dollars, whose project financing process will be carried out through the Angola Investor Market platform.
The initiative is part of the working collaboration between the Chamber of Commerce and Industry of Angola (CCIA) and DABG-Angola Business Group, entities promoting the Angola Investor Market platform, with a view to reinforcing the process of economic diversification.
Also notable in the agency’s news was information relating to the acquisition, by 17 commercial banks, of USD 200 million, made available by the National Bank of Angola (BNA), within the scope of monetary policy management, and the recovery from Recredit of around 77 thousand million kwanzas of bad credit from the Savings and Credit Bank (BPC), in 2023, which represents 27% of the amount invested (Kz 288 billion).
In the field of agriculture, the highlight was Angola’s participation in the African Fertilizer Summit, held in Nairobi (Kenya), whose participants recommended that the continent’s governments triple the production and internal distribution of fertilizers, with a view to accelerating agricultural growth in Africa.
The event, attended by Angola’s Minister of Agriculture and Forestry, António de Assis, also advocated the implementation of actions to reverse land degradation and restore soil health by at least 30 percent, as well as ensuring that 70% of small farmers have access to extension services and quality fertilizer advice.
In the energy field, highlight is the announcement about the provision of 370 megawatt (MW) of energy for the national electrical system, through the photovoltaic solar plants of Biópio, Baía Farta (Benguela) and Saurimo (Lunda-Sul).
The sector plans to open, in June 2025, the Cuito (Bié) and Bailundo (Huambo) solar plants, with capacities of 14,652 MW and 7,992 MW, respectively.
During the period in question, the achievement, by the Angolan startup “ANDA”, of the 13th edition of the Abu Dhabi Annual Global Investment Congress, in the United Arab Emirates (UAE), which brought together 50 unicorns (startups worth more than a billion), 175 countries and more than 12 thousand participants.
This is a global competition from one of the main global investment platforms in the technology sector.
During the past week, the mineral resources sector expected the extraction of 17.53 million carats of diamonds by 2027, projections that aim to surpass the 8.72 million carats achieved in 2023.
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