Falling oil receipts and a foreign exchange crisis have hit Angola’s economy hard. A recent Eurobond issue, a prospective IMF loan and the restructuring of state oil company Sonangol should help the government fund much-needed infrastructure improvements – but any recovery is likely to be slow and hard won. James King reports.
Africa
Latest articles from Angola

Angola begins slow journey towards a non-oil economy
July 1, 2016Angola has come through a long civil war, enjoyed a relatively brief boom period, and is now encountering a long-term slump in oil prices. This has led the government to instigate economic reform and support infrastructure improvements to draw investors to the country’s other abundant resources. James King reports.

Angola’s banks will sink or swim over wave of consolidation and regulation
July 1, 2016A dollar liquidity crunch amid regulatory concerns, bad loans and low oil prices have tested Angola’s banks recently. Now central bank moves to tighten rules and a wave of consolidation are shaking up the sector, resulting in survival of only the fittest. James King reports.
Angola’s sovereign wealth fund aims to boost non-oil investment
July 1, 2016As part of Angola’s diversification efforts, its sovereign wealth fund is working to boost non-oil sectors of the country's economy by investing at home and abroad in diverse assets. James King reports.
Angola's sovereign wealth fund expands its horizons
June 1, 2015Alternative assets are the name of the game for Angola's sovereign wealth fund, as it steps in where local banks fear to tread.

Can Angola weather the oil price storm?
June 1, 2015Angola’s steady story of economic growth has been badly disrupted by the global collapse in oil prices. Can the 'ultimate petrostate' weather the storm?

Holidays on hold: why Angola is struggling to realise its tourism potential
June 1, 2015Angola has big potential as a visitor destination, and as a sector, tourism could be a driver of non-oil growth and jobs. But high costs and red tape are deterring overseas visitors and the country needs to work harder to deliver on its ambitions.

The spark amid a slump: Will Angola's banks emerge from oil price dip stronger?
June 1, 2015The Angolan banking sector has been hit hard by the oil price slump, adding to concerns about systemic loan book weakness. However, a tough new asset quality review should improve matters, as should the expansion of the country's capital markets.

Angolan economy stalls as dependence on oil continues
June 1, 2015Angola's failure to diversify away from oil has led to faltering growth in what has been in recent years one of Africa's best-performing economies. Though the government is managing the crisis better than in previous years, the currency remains unstable and access to foreign currency is in short supply.

Angola seeks an end to oil dependence
May 1, 2014Angola’s impressive post-war development continues apace. But as oil production stagnates, the government is under greater pressure than ever to diversify the economy and create jobs.