Brazilian business people seek business opportunities in Angola

14 February 2018

A group of business people from Brazil linked to the agricultural sector are in Angola on a business prospecting visit to the provinces of Kwanza Norte and Moxico, according to the Ministry of Agriculture and Rural Development.

The official statement also said that the Brazilian business people, after visiting the municipality of Camabatela, Kwanza Norte province, where the country’s largest slaughterhouse is located, travelled to the province of Moxico, where they will remain until Thursday.

The visit is part of the Angolan government’s efforts, particularly in the agricultural and forestry sector, to find potential partners that can invest in the sector, so that in the medium and long term Angola can become self-sufficient in the production of its main food products.

The visit by the Brazilian business people to Angola comes a month after Angolan Finance Minister Archer Mangueira went to Brazil to negotiate the reopening of credit lines to finance some public investment projects. The funding was officially re-launched on Friday in Luanda, with the arrival of Brazil’s foreign minister, Aolysio Nunes.

During his stay in Luanda, Nunes announced the opening of a US$2 billion credit line and called for relations in areas such as health, education and defence to increase, but without losing sight of the need for understandings between entrepreneurs to promote development in both countries.

Angola’s debt to Brazil, until 31 December, 2017, totalled US$1.271 billion, of which US$1.212 billion is owed to the National Economic and Social Development Bank (BNDES) and US$58.9 million to Brazil’s Export Financing Programme. (macauhub)