ARTICLE · 06 MARCH 2013

Investing In Angola – Between Extremes

Mayer Brown

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Angola is a land of extremes. While many Angolans live in deepest poverty, the Angolan economy is the third largest in Sub-Saharan Africa, with annual GDP growth regularly topping 10% over recent years.

AngolaInternational Law

Kwadwo Sarkodie

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Angola is a land of extremes. While many Angolans live in deepest poverty, the Angolan economy is the third largest in Sub-Saharan Africa, with annual GDP growth regularly topping 10% over recent years. In a country which spent nearly 30 years in a state of civil war, peace has now firmly taken hold. While Angola ranks 172nd out of 183 for ease of doing business (IFC "Doing Business" Report 2012), record foreign investment is flowing into the country.

At the heart of the story is Angola's wealth of natural resources. Angola is the second largest oil producer in Sub-Saharan Africa, and holds substantial and varied mineral reserves, including diamonds, iron ore, phosphates and gold. Its agricultural and fishing potential are also considerable. Public and private investment are at record levels and show no sign of abating. Considerable investment is being directed towards infrastructure development, which, with housing, is an urgent priority following the devastation of

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