A recomposition more than a revolution. This is what the Angolan private sector is going through. Initiated with the coming to power of João Lourenço in 2017 and the launch of macroeconomic reforms, the movement should continue. The outgoing president, renewed for five years after general elections whose results are disputed by the opposition, continues to call for the consolidation of the entrepreneurial world. This is the only way to create wealth and jobs that meet growing social expectations.
With an economy still dominated by black gold – Angola is the second largest producer on the continent – and in post-Covid recovery – 3% of growth in gross domestic product (GDP) expected this year – the task is not easy. Even less in view of the country’s history, marked by the influence of public entities, including the national oil company Sonangol. Having already led to the loss of influence of the former presidential Dos Santos family, the current process is creating new power relations. Glimpse of a landscape undergoing reconstruction.
Did João Lourenço make Angola more “business friendly”?