Africa Monitor

Africa Monitor Intelligence

Angola: Privatizations Stumble

In addition to having, in general, failed the efforts of PR’s economic team to revive the economy, in the last 3 years, the prospects for 2021 are still negative due to the effect of the pandemic, with consequences in attracting investment foreign.

Foreign private investment is generally seen as the “only possibility” to promote the development of sectors of the productive economy (agriculture, manufacturing), potentially capable of offsetting the effects of the devaluation of the oil industry (AM 1237).

The national business community is undercapitalized and the State, impoverished and indebted, does not have the resources capable of leading it to launch public investments that generate employment. The foreign indebtedness rate already exceeds 100% (62% 4 years ago) and the magnitude of net international reserves is in constant depreciation (AM 1221). READ MORE