The world''s most comprehensive market research on consumer products, commercial industries, demographics trends and consumer lifestyles in Angola. Read More Refine by
In 2024, the exchange rate market has stabilized, with reduced parallel market premiums and a more gradual depreciation compared to 2023. Increasing global food prices, a weaker kwanza and fuel price hikes, have kept inflation high, averaging 27.9% year-on-year over January-August, despite the central bank raising the policy rate by 250 basis
Angola. Angola ranked among the 10 largest economies in Africa as of 2021, despite the remaining effects of the coronavirus (COVID-19) pandemic. That year, the country''s GDP totaled 74.5...
Angola represents a large market, with a population of 35 million and a GDP of US$ 106 billion. It is the sixth largest economy in sub-Saharan Africa, so it is a logical next market for U.S. companies active in other countries in the region.
Economy, Finance and Trade: Angola. In 2023, Angola''s real GDP growth slowed to 1.2%, hindered by a drop in oil revenues, as well as subdued domestic demand. Moreover, inflation rebounded in the second half of 2023, largely due to the removal of fuel subsidies and a depreciating nation... al currency. In the medium term, the economy is
A vast country with a long coastline and central plateau, Angola thrusts inland across Southern Africa to border Namibia, Botswana, Zambia, and the Democratic Republic of the Congo. Its principal cities, including its capital, Luanda, look west over the South Atlantic to Brazil, another Portuguese-speaking nation (like itself). It has a population of more than 33.08 million (2022). A general population census is currently being conducted to gather updated information on the population size.
Economic Overview Angola''s economic fortunes have been tied to global oil demand, which brought volatile growth and left the country with high levels of poverty and inequality. Reforms over the past five years have improved macroeconomic management and public sector governance. Macroeconomic stability has been enhanced through a more flexible exchange rate regime, central bank autonomy, sound monetary policy, and fiscal consolidation.
In 2024, the exchange rate market has stabilized, with reduced parallel market premiums and a more gradual depreciation compared to 2023. Increasing global food prices, a weaker kwanza and fuel price hikes, have kept inflation high, averaging 27.9% year-on-year over January-August, despite the central bank raising the policy rate by 250 basis points to 19.5% since November 2023. Rising inflation and declining per capita income have strained household purchasing power, especially for the less well-off. This year, more than a third of the population is projected to live on less than $2.15 per day. Although the cash transfer program Kwenda currently provides a social safety net for 1.5 million rural households, urban households remain unprotected and vulnerable to price shocks.
Political Context Angola operates under a multi-party system, where general elections are held every five years. The Popular Movement for the Liberation of Angola (MPLA) has been in power since the country gained independence in 1975. In August 2022, the MPLA won the fourth post-war elections with 51% of the vote and secured President Joao Lourenço a second and final term in office.
Internationally, Angola is continuing to be assertive and demonstrating a steadfast commitment to peace and stability in Africa, particularly in the Democratic Republic of Congo where it has led regional efforts to end the instability that threatens the entire Great Lakes Region.
Last Updated:Oct 09, 2024
While a new Country Partnership Framework (CPF) is planned for FY25-29, the overarching strategy of the World Bank Group''s current support activities in Angola focuses on pillars of the previous CPF, concentrating on the promotion of more inclusive development, consisting of two core objectives (pillars) and one foundation plank of a cross-cutting nature.
Pillar I focuses on supporting integrated national economic diversification by revitalizing rural economies to create greater competitiveness and employment. The focus is on the strengthening of the non-oil economy, with an emphasis on rehabilitating traditional lines of business that suffered greatly during the war, as well as technical assistance for the energy sector.
Pillar II focuses on enhancing the quality-of-service delivery and instituting a strong social protection program to improve the quality of life of the population and equip individuals to take a greater role in the development of the country.
The Foundation Plank of the CPF revolves around building human and institutional capacity to approach the levels common in middle-income countries, complementing the two strategic pillars.
These objectives will be achieved through stronger attention to quality and implementation of the 17 existing investment projects (net commitment of $4.02 billion) with International Bank for Reconstruction and Development (IBRD) financing and the three current Reimbursable Advisory Services (RAS).
The Municipal Health Service Strengthening Project is targeting assistance to more than 200,000 people in five municipalities and has so far achieved the following in response to the COVID-19 pandemic:
$15 million was made available for an urgent and immediate health sector response, supporting World Bank technical assistance in conducting a quantification of COVID-19 needs that served as the basis to outline areas of need, inform procurement, and help coordinate donor support.
Purchased personal protective equipment, bio-safety, and diagnostic materials and operationalized the logistical response, including contact tracing and field-based training.
Nearly 1.4 million children were screened for malnutrition, and over 24,000 children with severe acute malnutrition were treated with a 71% cure rate.
The Strengthening the National Social Protection System Project has rapidly expanded its coverage and is at a crucial stage of its evolution into a system that is institutionalized into becoming an integral part of the government''s efforts to reduce poverty. Its three components have so far achieved:
The Cash Transfer component registered more than 1.6 million households across the country. As of September 2024, over 1 million households have been paid (70% of beneficiaries are women).
Productive inclusion has been implemented in ten provinces and 13 municipalities, with the main lines of work including agriculture, honey production, animal husbandry, community-saving schemes, and product processing. This has benefited more than 26,000 beneficiaries (more if indirect beneficiaries in the households are considered).
Human capital activities have benefited about 373,488 households through Integrated Social Action Centers (CASI) and Community Development and Sanitation Agents (ADECOS).
The Water Sector Institutional Development Program II (PDISA II) has continued to strengthen the operations and management of six water supply utilities through performance management contracts with international companies that are providing support in technical, commercial, financial, and human resources areas. Under PDISA II, about 265,000 people have benefitted from water supply through 76,000 new household water connections, 500 km of network, and an additional 3000 m3 production capacity. The project is also financing performance-based Technical Assistance and infrastructure for utilities to improve performance and attract the private sector, as is the case of the proposed affermage for the provincial cities of Cabinda, Bie, Huambo, Lunda Sul, and Cuanza Norte.
About Industry and market trends angola
As the photovoltaic (PV) industry continues to evolve, advancements in Industry and market trends angola have become critical to optimizing the utilization of renewable energy sources. From innovative battery technologies to intelligent energy management systems, these solutions are transforming the way we store and distribute solar-generated electricity.
When you're looking for the latest and most efficient Industry and market trends angola for your PV project, our website offers a comprehensive selection of cutting-edge products designed to meet your specific requirements. Whether you're a renewable energy developer, utility company, or commercial enterprise looking to reduce your carbon footprint, we have the solutions to help you harness the full potential of solar energy.
By interacting with our online customer service, you'll gain a deep understanding of the various Industry and market trends angola featured in our extensive catalog, such as high-efficiency storage batteries and intelligent energy management systems, and how they work together to provide a stable and reliable power supply for your PV projects.
Related Contents
