Companies from the United States plan to invest in Angola

18 February 2020

Companies from the United States plan to invest more than US$2 billion in Angola in oil and natural gas projects, said on Wednesday in Luanda the American Secretary of State, Mike Pompeo.

The Secretary of State, speaking at a meeting promoted by the United States-Angola Chamber of Commerce (Usacc), stressed that the investment mentioned “also benefits the Angolan population.”

He noted that the agenda of introducing reforms, in particular financial transparency and combating corruption, decided by the Angolan President, João Lourenço, needs to continue and to take root, according to Angolan state news agency Angop.

In his speech directed towards the Angolan and US authorities , as well as the entrepreneurs of the two countries, Pompeo mentioned an American initiative called “New Financial Cooperation” with an initial allocation of US$60 billion.

Launched 45 days ago, the initiative is focused on attracting private investment abroad (…), particularly for sectors such as agriculture and energy, and a large part of that amount is intended for Africa.

Politics and diplomacy, defence and security, the business sector, industry, oil, health, education, technology and telecommunications are some of the main areas of Angola-USA cooperation.

In 2010 the two countries signed an agreement for the creation of a bilateral commission entitled Strategic Partnership Dialogue, making Angola the third African country with this arrangement with the US, after South Africa and Nigeria. (macauhub)