Angola is experiencing a sustained influx of investment, with various lenders and corporations declaring their intentions to either expand operations or invest in the nation.
Angola is set to welcome US President Joe Biden, marking his inaugural and final visit to the continent during his presidency. This visit holds strategic significance, as the United States and China are competing for influence in Central Africa, a region rich in essential raw materials crucial for the success of the electric revolution.
In preparation for the upcoming visit next week, numerous investors have revealed their plans to invest in Angola. “We see great opportunities to acquire mature assets in Angola, reduce emissions from those assets and further develop them,” said Paul McDade, CEO of Afentra, and independent energy firm, adding, “We anticipate more large companies divesting in the future, with independents stepping in to acquire mature fields. We aim to continue working alongside Angolan companies, combining efforts to secure additional assets. The challenge lies in convincing investors to finance these projects.”
During this year’s UN General Assembly meeting, Angola and Zambia entered into a concession agreement with the Africa Finance Corporation (AFC). This agreement allows the infrastructure solutions provider to link railway lines in both nations, highlighting the competitive struggle for leadership in the electric vehicle (EV) sector.
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The railway extension is a crucial addition to the Benguela Railway Line, which traverses Angola from west to east, linking to Tenke in the Democratic Republic of Congo (DRC) and connecting with the Cape to Cairo Railway.
