AfDB Strengthens Investment Ties with Angola to Boost Economic Diversification and Private Sector Growth

During a crucial meeting with Angola’s Minister of Planning, Victor Hugo Guilherme, discussions centred on innovative financing mechanisms to attract both domestic and foreign private investments.

The African Development Bank (AfDB) has reaffirmed its commitment to Angola’s economic transformation, following a successful two-day mission led by Vice-President Solomon Quaynor. The visit, held from March 4-6, 2025, focused on deepening collaboration with government and private sector stakeholders to enhance investment opportunities and promote sustainable economic diversification.

Accompanied by Pietro Toigo, the AfDB Country Manager for Angola and São Tomé, and a delegation of senior Bank officials, Quaynor engaged in high-level discussions with key ministers, business leaders, and development agencies. The mission aimed to assess the impact of ongoing projects and explore new investment strategies to support Angola’s economic growth and industrial expansion.

Strengthening Financial and Investment Mechanisms

During a crucial meeting with Angola’s Minister of Planning, Victor Hugo Guilherme, discussions centred on innovative financing mechanisms to attract both domestic and foreign private investments. The session underscored the importance of leveraging Angola’s Sovereign Wealth Fund (FSDEA) to co-finance strategic sectors alongside the AfDB, particularly in agribusiness, pharmaceuticals, healthcare, fertilizer production, and infrastructure asset recycling. Despite fiscal constraints, the government remains committed to maximizing available resources to drive economic growth and stability.

The delegation also met with Angola’s Minister of Transport, Ricardo de Abreu, and representatives from the Agency for Private Investment and Export Promotion (AIPEX). These discussions focused on expanding infrastructure investments, improving logistics, and enhancing the country’s global trade competitiveness.

Energy Investments and Regional Power Integration

A key highlight of the visit was the discussion on Angola’s renewable energy potential, with a focus on integrating the country’s 3GW clean energy reserves into the Southern African Power Pool. The AfDB reaffirmed its support for investing in power transmission lines, which will not only strengthen Angola’s energy security but also position it as a key regional energy supplier.

Additionally, the delegation agreed to accelerate the implementation of the $90 million CRESCER program, an initiative aimed at empowering Angola’s youth through entrepreneurship and skills development. The program is expected to play a vital role in equipping young people with the knowledge and resources necessary to participate in the nation’s evolving economy.

Commendation for Economic Diversification and Debt Management

Vice-President Quaynor commended Angola’s ongoing efforts to diversify its economy away from its traditional reliance on oil and gas. He noted significant progress in the agro-business sector, citing successful enterprises like Grupo Carrinho, which has established robust agro-processing and logistics operations, and FoodCare, a smaller company actively exporting African processed foods to markets in the US and Europe.

“The Angolan private sector is making commendable strides along the agro-business value chain. From large-scale agro-processing to export-driven SMEs, there is clear evidence that Angola is embracing a more diversified economic model,” Quaynor stated.

The African Development Bank also praised the Angolan government for its prudent debt management strategies, which have helped improve the country’s financial standing and attract foreign investors.

Support for Angola’s Transportation Masterplan and Lobito Corridor Development

Another focal point of the discussions was the successful implementation of Angola’s 2019 Transportation Masterplan, which includes significant upgrades to urban mobility systems, regional transport corridors, ports, airports, railways, and border posts. The masterplan is designed to improve trade connectivity and facilitate industrial development.

Quaynor reaffirmed the AfDB’s commitment to supporting Angola’s ambitious infrastructure projects, particularly the Lobito Corridor, a strategic transport corridor linking Angola’s inland regions to international markets. The Bank is investing $200 million to strengthen agricultural value chains in the eastern part of the corridor, ensuring that smallholder farmers and agribusinesses benefit from improved logistics and market access.

AfDB’s Growing Portfolio in Angola

As of 2025, the African Development Bank has an active portfolio of 16 ongoing projects in Angola, totaling $1.45 billion in financial commitments. The sectoral distribution of the Bank’s investments includes:

• Energy: 36.47%
• Water and Sanitation: 17.08%
• Agriculture: 14.19%
• Finance: 20.15%
• Social Development: 11.63%
• Environment: 0.3%
• Transport: 0.17%

Since initiating operations in Angola in 1980, the AfDB has approved cumulative loans and grants worth $3.36 billion, underscoring its long-standing partnership with the country.

Looking Ahead: A Renewed Commitment to Sustainable Growth

The conclusion of the mission reaffirmed the African Development Bank’s dedication to Angola’s economic transformation. Moving forward, the Bank will continue working closely with the Angolan government and private sector to unlock investment opportunities, enhance infrastructure development, and drive long-term economic sustainability.

With continued collaboration and strategic investments, Angola is poised to emerge as a leading economic player in the Southern African region, capitalizing on its vast resources, human capital, and commitment to progressive reforms.