Angola – Africa’s Oil Giant

As Angola celebrated it’s 42nd Independence on August  11th, we took a look at the Portuguese speaking nation.

Located in the Southern part of Africa on the Atlantic coast, Angola is Africa’s Largest Oil Producer. Endowed with large oil reserve, the country has showed an impressive economic growth rate with a GDP per capita at $3,486 (Opec). Angola holds a population of 27.5 million people in a land mass almost equal to twice the size of the U.S. state of Texas (1,246,700km). The nation is overwhelmingly dependent on the export market, with 90% Crude oil, 5% Diamonds, and remaining 5% captures Agriculture and other commodities.  Food accounts for a sizeable portion of the countries imports, despite the large amount of arable land and favourable climate.

Banana, Sugarcane, Coffee, Tobacco, Corn and Cotton are some agricultural commodities that are widely untapped due to the higher margins offered by Crude Oil. Political instability has been an issue for the country, who since independence had been in a civil war for 27 years (1975 – 2002), until the death of the opposition leader. This hostility continues in small pockets within the Cabinda Province. The Front for the liberation of the Enclave of Cabinda (FLEC) is a separatist insurgency currently waging guerrilla warfare against the Angolan Military in this province. The people within this province speak a tongue much similar to the Democratic Republic of Congo!

President Joao Lourenco was elected into office in September 2017, becoming the first new president in 38 years. He was the chosen candidate after serving in numerous capacity within the prior government headed by Jose Eduardo Dos Santos, who is rumoured to have a strong influence on the running of the country. The state controls all form of media within it’s reach, with social media under strict regulation.

Despite the very authoritative rule, the city of Luanda is a top destination for adventure seeking tourists, foreign investors and elegant lifestyle – super cars, expensive yachts, and luxury housing are littered everywhere. The city is considered amongst the top expensive cities in the world to live.