Financial Data
Updated 16 Jan 2021


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The Republic of Angola is situated in southern Africa and is bordered by the Atlantic Ocean, Namibia, Zambia and the Democratic Republic of the Congo. The country’s footprint spans more than 1 246 700 km2.

Angola boasts a solid relationship with China, which offers diplomatic backing for the state. There is, however, concern that an economic slowdown in China could limit financial flows to Angola.

As Angola is the second-largest oil producer in Africa, after Nigeria, its economy is driven by investment in the oil sector. This dominance of oil production and its supporting activities means the country’s industrial sector contributes substantially to its gross domestic product (GDP); estimated at 46.2% in 2015.

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Social overview


Angola has a population of 19 625 353, although preliminary results from the country’s 2014 national census indicates that the country’s population is closer to 24.3 million.

42.95% of the population is under 15 years old, while 53.08% of the population is between 15 and 64, and 2.96% is over the age of 65. Its large youth population broadens the country’s potential labour pool. Statistics indicate that 71.7% of the total population is literate.

When it comes to the country’s ethnic diversity, its people are categorised as follows: Ovimbundu (37%), Kimbundu (25%), Bakongo (13%), Mestizo (2%), European (1%), other (22%).

Portuguese remains Angola’s official language, while Bantu and other African languages are also spoken, depending on the region. 44% of the population is urbanised and the annual rate of urbanisation is estimated at 4.97%.

Major urban areas include the capital, Luanda, with a population of 5.506 million, and Huambo, with a population of 1.269 million.

The country is beset by high levels of poverty, with a large proportion of the population living below the poverty line. According to World Bank estimates, 54.5% of the population live on less than USD3.1 a day.

Education in Angola entails four years of compulsory, free, primary education from age 7 until 11, while secondary education begins at age 11, lasting 8 years, and is not free.

There are two schooling programmes to choose from: One that lasts 3 years (vocational secondary) and another that lasts 4 years (pre-university). Both programmes award students a Secondary School Certificate (a diploma of Habilitaçoes Literarias). However, many children, especially girls, do not continue with secondary education or higher studies as they stay home to help their families.

Despite primary education being free, many schools were destroyed and looted during the country’s long civil war, with the result that those that are left are now overpopulated. As a result of schooling occurring in the open air, classes are cancelled when the weather is bad. In addition, there is a lack of qualified and trained teachers.


Angola’s people
  • Population: 19 625 353
  • Main  languages: Portuguese, Bantu, English
  • The Angolan government has mandated compulsory primary school education for citizens aged between seven and 11
  • Poverty and access to healthcare remains a challenge for Angolan citizens.
Environmental overview

Angola’s current environmental challenges relate to the overuse of pastures and subsequent soil erosion attributable to population pressures.

Key environmental concerns that you should factor into your Angolan business plan include: Desertification, deforestation of tropical rain forests resulting in loss of biodiversity, soil erosion contributing to water pollution and siltation of rivers and dams, and inadequate supplies of potable water.

Furthermore, the country experiences heavy rainfall, which causes periodic flooding on the plateau. In a bid to improve its environment and attract further foreign investment to the country, Angola is party to the following international environmental agreements as a signatory (but not ratified):

  • Biodiversity
  • Climate Change
  • Kyoto Protocol
  • Desertification
  • Law of the Sea
  • Marine Dumping
  • Ozone Layer Protection
  • Ship Pollution.

Depending on the sector you’re looking at investing in, you will also need to ensure you have access to water, particularly in the manufacturing and Agri sectors. In recent years, Angola has had to deal with infectious diseases, which include food or waterborne diseases (as the quality of tap water in Angola varies).

Vector-borne diseases are also a prominent factor to take into consideration, including dengue fever and malaria (malaria is endemic in most parts of Angola). 

The environment
  • Due to overgrazing, Angola is prone to soil erosion and desertification. This presents challenges for Agribusinesses.
  • A combination of high rainfall in certain regions, combined with a shortage of water treatment facilities leave the country vulnerable to flooding and waterborne diseases respectively.
Technology overview

Angola’s adoption and development of information and communications technology (ICT), is considered to be the much needed breakthrough for improving access to knowledge, training and development in the country.

The improvement and adjustment of Angola’s infrastructure, in particular with regard to telecommunication networks and information technologies, is essential to sustainable growth and development.

The Angolan government has shown a strong interest in the telecoms sector. In 2014, according to the country’s telecoms regulator, INACOM, the country’s mobile market showed total subscriptions of more than 14 million. This reflects a 4.5% year-on-year growth and a mobile market penetration rate of 58%.

Growth in the mobile sector is influenced by limited competition between Angola’s two mobile operators, Unitel and Movicel. The absence of competitive pricing models has resulted in generally high mobile tariffs and limited service innovation.

The entry of Angola Telecom, Angola’s state-run phone company, as the country’s third mobile operator could change the price competition dynamics, as the new entrant aims to capture enough market share to compete with the established players.

Angola presents growth opportunities in respect of mobile penetration, as the country offers large mobile markets with low penetration levels. There are also growth opportunities in terms of 3G/4G subscriptions, owing to the country’s large population.

Stronger uptake of high-speed connectivity is expected due to the availability of low-cost devices and declining tariffs. Demand for mobile 3G connections is expected to remain high because of its wider reach and more affordable tariffs relative to the prevailing 4G services on offer.

When it comes to fixed-line infrastructure, continued investment into the country’s terrestrial fibre-optic network bodes well for broadband services and businesses that require broadband to operate efficiently. However, Angola’s historically underdeveloped fixed-line market, dominated by Angola Telecom and Mercury Telecom, has shown very little growth over the last few years, with total subscriptions at approximately 280 000.

A major infrastructure development plan of the Angolan government is the deployment of the South Atlantic Cable System (SACS), linking Angola and Brazil, through Angola Cables, which is 51% owned by Angola Telecom. This submarine communications cable is intended to speed up Internet connections and lower its associated costs. While originally expected to be completed for launch in 2015, the project has been delayed several times and completion is now scheduled for 2018.

Tech outlook
  • There are more than 14 million mobile users registered in Angola.
  • The country’s communications authority has launched Angola Telecom as an alternative to its two independent mobile operators (Unitel and Movicel).
  • 3G remains more popular than 4G connectivity, due to high 4G prices.
  • Fixed-line infrastructure is being upgraded to ensure high-speed connectivity is easier to access for both citizens and businesses.
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