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AfricaJuly 1 2016

Angola begins slow journey towards a non-oil economy

Angola 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.
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Only a handful of the world’s top oil producers can lay claim to a diverse non-oil economic potential, and of these lucky few Angola stands apart. From timber to agriculture to tourism, the scope of the country’s long-term investment prospects is staggering. Based on its mining potential alone, Angola’s rich subsoil holds 35 of the world’s 45 most traded minerals, including copper, gold, uranium and manganese.

Blessed with fertile land, a favourable geostrategic location and access to the markets of the Southern African Development Community (SADC), Angola’s long-term non-oil investment prospects are sizeable. The end of the country’s decades-long civil war in 2002 opened up new opportunities for investors to capitalise on this bounty.

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