Angola is located on the western coast of Southern Africa. With a population of approximately 35 million, it is the continent''s seventh-largest country and largest Portuguese-speaking country.
Rich in mineral andoil reserves, Angola''s economy heavily depends on commodity exports, primarily oil and related products. The country is committed to diversifying its economy, increasing the export value of its non-oil/extractive sectors, and integrating the global market.
The EU supports Angola''s sustainable and inclusive development efforts, in line with the National Development Strategy 2023-2027 (Plano de Desenvolvimento Nacional) and its long-term development vision ''Angola 2050'', and the EU''sGlobal Gateway strategy.Our actions build on Angola''s commitment to diversifying the economy in a sustainable manner, promoting good governance, and fostering human development.
Team Europe in Angola brings together the EU, the European Investment Bank, France, Portugal, and the Netherlands. Together, we implement an Initiative on Diversification of Economy and Public Financial Management.
Angola is the first country with which the EU signed aSustainable Investment Facilitation Agreement (it entered into force on 1 September 2024). Its overall objective is to facilitate the attraction, expansion, and retention of investment between Angola and the EU, and promote environment and labour rights commitments.
Connecting Angola, the Democratic Republic of the Congo (DRC) and Zambia to global markets, it is the first strategic economic corridor launched under the flagship G7 Partnership for Global Infrastructure and Investment (PGII). The Lobito Corridor will unlock the region''s potential, enhance export opportunities for the three countries, and generate local added value and jobs through investments and softer support measures. The EU partners with Angola on:
Angola has great potential for a green transition, aiming to support the country''s economic diversification efforts while reducing inequalities and enhancing sustainability. This transition will involve supportingthe generation, transmission, and distribution of clean energy through infrastructure construction (e.g. hydropower plant, solar parks), support to regulatory framework, and private sector and skills development.
Establish a quality higher education system, achieved through capacity building and a robust technical and vocational education and training (TVET) system, to ensure that courses align with market needs and contribute to economic diversification.
Both our higher education and TVET sectors support initiatives reinforce information systems for improved planning and management. Additionally, the EU has contributed to the design of the National System of Qualifications, a key tool for ensuring the transparency and comparability of qualifications.
With approximately 1600 km of coastline, the blue economy is a crucial component of Angola''s well-being and food security. Fishery is one of the important production sectors in Angola and a priority for economic diversification. The country is endowed with rich marine biodiversity and seeks to explore it sustainably.
Governance, the Rule of Law, and civic participation are the backbone of sustainable, equitable, and just development. The EU-Angola partnership is grounded in the promotion and protection of governance principles and the respect for basic freedoms. The EU partners with Angola on:
On September 1, the EU-Angola Sustainable Investment Facilitation Agreement (SIFA) entered into force. SIFA is the first-ever EU agreement on investment facilitation, aiming to stimulate foreign investments necessary for achieving sustainable development goals. The agreement will create a more transparent, efficient, and predictable business environment for investors in Angola and promote sustainable investment by EU businesses in Angola.
Angola is the EU’s 5th largest investment destination in Africa, covering 8% of EU foreign direct investments, totalling €21.7 billion in 2022. Angola, in turn, invested €2.9 billion in the EU in 2022. The EU serves as Angola’s primary trade and investment partner. Negotiations on the Sustainable Investment Facilitation Agreement (SIFA) between the EU and Angola were concluded on November 18 2022, and the parties signed the agreement on November 17 2023, in Luanda, Angola.
“I am delighted that this innovative, first-of-its-kind agreement with Angola has now entered into force. The Sustainable Investment Facilitation Agreement will create a modern and more sustainable investment environment in Angola, promoting economic growth for both partners. It will help diversify the Angolan economy and support responsible investment practices, strengthening the partnership between the European Union and Angola,” said Valdis Dombrovskis, Executive Vice-President and Commissioner for Trade.
The SIFA aims to improve the business environment by increasing investment regulation transparency and promoting stakeholder involvement. It supports environmental and climate commitments and respect for labour rights. These improvements will help unlock investment in green energy, agri-food value chains, digital innovation, and fisheries, contributing to Angola’s economic diversification. The SIFA is part of the EU’s effort to deepen engagement with Africa and complements the Africa-EU Global Gateway Investment Package.
In 2021, Angola had 5,880 MW of installed power capacity, but only 42.8% of its 35 million inhabitants had access to the national electricity grid, according to the Renewables in Angola – national status report, launched in 2022 by the Angolan Renewable Energy Association (Associação Angolana de Energias Renováveis – ASAER) and the Lisbon, Portugal-based Lusophone Renewable Energy Association (ALER). It is a country where of the 37 million population more than a third, almost 13.5 million, live on less than $2.15/d, according to the World Bank.
That encourages the use of off-grid renewables, with the World Bank authors noting that: ''The commitment to new renewables is reinforced by the dispersion of rural settlements, and by the fact that the transmission grid connected to the major producing plants still does not reach all the provinces.'' The Bank adds that the ongoing work to connect all the provinces to the country''s electricity distribution system is not economically sustainable, especially considering the low population density.
This week, the Angolan state energy company Sonangol and two German companies, Gauff Engineering and Conjuncta, signed a memorandum of understanding to construct a factory.
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