Angola's economy is overwhelmingly driven by its oil sector.
Oil production and its supporting activities contribute to
approximately 50% of the GDP, more than 70% of the country's
revenue and more than 90% of its exports. The Covid-19 pandemic,
however, taught us that the ability to adapt to change is a
valuable skill, both for people and economies alike and it also
highlighted the need to diversify the Angolan economy.
The Angolan government has made some positive strides in this
regard with the country joining the Southern African Developments
Community free trade zone. Angola will also form part of the
African Continental Free Trade Area (AfCFTA). The AfCFTA was set
come into existence on 1 July 2020 but was postponed due to the
COVID-19 pandemic. Despite initial hindrances, the AfCFTA will,
once it is fully implemented, be made up of 54 African countries
merging into a single market. This will ultimately not only be a
free trade agreement but will serve as a
