Wednesday, 10 December 2008


Angolan reforms are slowly improving and diversifying the economy. Deployment of a $1billion World Bank loan to aid in diversification, and establishment of two funds to collect oil revenues should keep things bouyant. The banking sector is looking interesting.

GDP growth of 11.8% in 2009, down from 15% in 2008. One single company, Sonangol, which has a turnover of $17 billion, represents almost a third of GDP. Sonangol takes a 51% stake in all production from Cabinda, as well as from offshore concessions.

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