‘Huge” opportunities for Egyptian companies in Angola

CAIRO - 9 Sep 2017: The African Development Bank’s board has approved Angola’s strategy, which defines the bank’s areas of interest during the coming five years that will focus on comprehensive development and enhancing infrastructure, the Egyptian embassy in Luanda said on Saturday.

In a press release, the embassy said that there are “huge” opportunities for Egyptian companies to establish projects in Luanda.

Angola’s strategy 2017-2020 aims to overcome the challenges the country is facing through accelerating economic growth and reducing poverty.

The strategy will include agricultural, industrial and infrastructure projects.
There are no specific statistics that indicate the volume of trade exchange between Egypt and Angola, which does not exceed a few irregular business deals by a number of Egyptian companies.

Five Egyptian companies participated for the first time in the International Fair of Luanda ( FILDA ) in July 2009, as they exhibited models for some of their products. Some of these companies were Qena for Cement and Al-Kasr for furniture.

In Luanda, there are many other Egyptian goods and products, specially canned food and drinks, which were imported indirectly by Lebanese traders in Angola, or directly through some of the Egyptian companies that are trying to discover and trace the Angolan market, according to the Egyptian embassy in Angola.