Angola's rehab
Angola's oil addiction hit rock bottom when the oil price collapsed.
It's not how many times you get knocked down that count, it's how many times you get back up! George Armstrong Custer, USA army
This reality shock, prompted Angola to start to diversify its economy investing in the production of goods to replace imports.
Although at a very early stage, and with an impact that still can't offset the lost oil revenue, some projects with relevant investment signal that Angola is changing. This article highlights 3 examples:
- New cement plant, by Cimangola, representing an investment of €350 million and capacity to produce 2 million tons of cement and 2,4 million tons of clinker per year. This factory is expected to reduce Angola's imports at €47 million per year. It will also enable Angola to export, particularly to other African countries, as demonstrated with, already executed, relevant exports to Cameroon.
- Angola's new flour mill — Grandes Moagens de Angola (GMA) — processes about 1,200 tonnes of wheat per day in a state of the art industrial complex built with €85 million private investment.
- A giant steel factory was built two years ago, representing an investment of €290 million. Tonnes of steel are recycled in this factory, which produces iron-reinforced concrete bars – essential for the country’s modernisation.
There's an industrial revolution unfolding in Africa. And Angola is doing its part.
Assistente administrativo at colabora na gest?o de uma pequena Empresa
7 年usei o google tradutor para comentar em inglês. Minha vida...
Assistente administrativo at colabora na gest?o de uma pequena Empresa
7 年You can translate the comments so I can understand what they say about the third PR of Angola with the husband of Isabel dos Santos daughter of the second PR of Angola my life ...
Executive Director at Business Perspective SAS
7 年Hi Pedro, some imported flour are cheaper on the market even if coming from France or Turkey, local labour cost should compensate. Could be also a pb of amortization calculation.... I stay perplex anyhow.
Executive Director at Business Perspective SAS
7 年I am very glad of this new development, asking huge investments. But why the price of the products are at the level of orders which are imported ????(ie: flour) Mortgage/interest payment? Cost of production ?? Salary level of the workers??? Or local illness of maximum profit in the shortest time???
Manager, Strategy Implementation @ Project Light, ADNOC Group
7 年Is good to see that Angola is trying to catch up. The massive Oil drop affected all oil industry and especially countries like Angola who never cared with producing their own goods to reduce imports. But like they say “a men needs to fall to reinvent himself”. Hopefully Angola is now going to look in the right direction and not develop just factories but also realize that their most valuable asset is their own people and if they don’t take care of them then… eventually… everything will continue wrong.