With the Covid-19 pandemic inevitably hitting the Angolan economy hard, the government has pressed on with sweeping privatisation plans and looked to Chinese investment to limit the damage to an economy whose ties to oil prices have seen it struggle in recent years.
The country’s response to the pandemic was strong, with stringent measures in place through a state of emergency declared in March and extended several times. The government pledged to strengthen the health system, and its investment in ventilators and contact tracing systems helped keep the virus at bay.
In an attempt to keep the economic impact of the lockdown at a minimum the government brought in several rule changes for manufacturing companies, which included tax credits and deadline extensions on reporting obligations. Measures were also brought in to financially support small and medium-size businesses and cut bureaucracy. Additional support for the country was agreed with the IMF in September 2020 and trade renegotiations with China are also seen as a potential route out of difficulty for the Angolan economy.
Angola’s legal market is served by a number of local firms that associate with leading players in Portugal. Leading local teams include ALC Advogados, which collaborates with Morais Leitão, Galvão Teles, Soares da Silva & Associados, and AVM, which operates in Angola, Mozambique and Portugal. Key Portuguese firms include PLMJ, associated with BCSA – Advogados in Luanda, and VdA and its linked local firm ASP Advogados. In recent years Dentons LEAD has established itself as a go-to local team for large-scale transactions.