Two US groups invest US$17 million in Angola

4 December 2012

Two groups from the United States – Cummins, Inc and Kentucky Fried Chicken – have increase US investment in Angola by US$17 million, the United States –Angola Chamber of Commerce said Monday in Luanda.

Cummins, Inc, a group specialised in the design, manufacture and sale of engines and technologies for generating electricity, invested US$12 million to set up Cummins Angola, the chamber of commerce said.

The company’s managing director, Rui Fernandes, said Angola was “a strategic pillar for the group’s growth in Africa,” and noted that the recently established Angolan Sovereign Fund, with initial funding of US$5 billion, would help Angola to reduce its dependence on oil.

The Kentucky Fried Chicken group invested US$5 million, in what the USA-Angola Chamber of Commerce said was a move that would help diversify the Angolan economy. (macauhub)