Legal Market Overview
Following the hit to Angola’s economy due to Covid-19, post-pandemic the country has seen the economy begin to grow again slowly. Heavily reliant on oil and gas for its economy, energy transition continues to be a growing trend, with the government privatisation programme now fully underway. The first solar power project in Angola, developed by Sun Africa LLC, has now begun development.
General elections for the country are scheduled to be held in Angola in August 2022, with the main opposition parties forming a coalition under the United Patriotic Front.
The country is now also part of the African Continental Free Trade Area, which encompasses 30 countries in its first phase, with a goal to eliminate tariffs on 90% of products, aiming to liberalise trade and services. As a result, there has been an uptick in investments and companies positioning themselves to take advantage of this development, which is potentially positive as it aligns with the plans for the government to diversify the economy.
Angola’s legal market is home to a large number of local firms that work in tandem with Portuguese, Iberian and international firms across the country’s key industries. Local heavyweights include ALC Advogados, which collaborates with Morais Leitão, Galvão Teles, Soares da Silva & Associados, and AVM, which also operates in Mozambique and Portugal. PLMJ and the recently renamed PLMJ Colab Angola – RVA Advogados (previously BCSA Advogados) work collaboratively. Dentons LEAD is a local go-to firm for large-scale transactions.