South Africa leads African investment in Angola

20 August 2009

Luanda, Angola, 20 Aug – The coordinator of the Management Commission of Angola’s National Private Investment Agency (ANIP), Aguinaldo Jaime, said Wednesday in Luanda that South Africa was the African country that invested most in the Angolan economy.

According to Jaime, after investment by Angolan businesspeople, which accounts for 93.3 percent, comes South African investment, with a total of 3.3 percent, or US$60 million.

The sectors in which most South African investments have been made are manufacturing industry with 37.5 percent of the total, retail with 12.8 percent and construction with 11.4 percent.

Jaime gave the figures whilst making a speech at the Angola/South Africa Business Forum, where for two days 180 South African businesspeople, who were part of the delegation of President Jacob Zuma on his visit to Angola, would seek out partnerships with Angolans.

The coordinator of ANIP offered the South African businesspeople investment guarantees, specifically protection and security of investment, profit and dividend transfer abroad, the non-interference of the State in the ownership or management of the investments and tax and customs incentives. (macauhub)