A good news story on Angola and its economic growth prospects. Plenty of good investment opportunities in the country and MNB is involved in two of the country's targeted growth strategies - agriculture and green energy.


Best of Business Angola: Take a look back at this year's growth-geared firms

By Chris Burns & Dinamene Cruz • 16/12/2022 - 20:53

Angola benefits from its vast energy and water resources, plus optimal weather for multiple harvests. It's a natural dividend that has led to many companies surging ahead in traditional and renewable energies, innovative agriculture, and a new kind of tourism for Angola’s millions-strong diaspora.

Angola has been a global energy player for a long time, with oil and gas making up the lion's share of its exports. Pro-business policies have helped attract new investment from giants like TotalEnergies and ExxonMobil.Olivier Jouny is the Director General of TotalEnergies Angola. He notes how this subsidiary is "one of our largest... [with] six installations, six oil platforms, six large vessels that produce in water depths of between 1,500 and 2,000 metres."

But Angola is also looking to the future, keen to exploit its other natural resources to usher in a green transition in the country's energy mix.

Somoil is the largest private energy company in Angola and wants to play a part in this."Somoil's vision is to become the premier integrated energy company, not only in Angola but in Africa. Renewables will play a big, big role for us," says the company's CEO, Edson dos Santos."One is solar, solar exposure. Angola has one of the best in Africa. And the second one is hydroelectric power. There are plenty of rivers in Angola."

Agricultural excellenceThose rivers also help drive Angola's agriculture and tourism. In the rich agricultural province of Namibe, the winery Vale do Bero produces about 80,000 bottles a year.Their success comes from plentiful water and the ability to have two harvests a year due to a conducive climate. It's a "very big advantage", according to the company's CEO, Paulo Murias.

Once a global coffee producer, Angola is now making a comeback. In Kwanza Sul Province, the Vissolela Farm is expanding, keen to regain Angola's former position in the world's coffee trade."The Vissolela project covers 1,000 hectares, all focused on specialty coffee. So there will be 100 hectares of each Arabica coffee variety, and 80% of that coffee will be exported," the farm's general manager, Guilherme Diniz, says.

https://www.euronews.com/2022/12/16/best-of-business-angola-take-a-look-back-at-this-years-growth-geared-firms