Real Estate Investor Magazine South Africa March 2016 | Page 50
AFRICA SERIES
Angola
Angola’s oil revenues are enabling
it to recover from decades of civil
war and build the infrastructure
it needs to exploit its abundant
natural resources
Capital: Luanda
Currency: Angolan kwanza
President: José Eduardo dos Santos
Population: 21.47 million (2013) World Bank
Official language: Portuguese
Literacy: 67.4%
Ethnic Groups
Ovimbundu – 36%
Ambundu – 25%
Bakongo – 13%
Other African – 22%
Mestico – 2%
Chinese – 1%
European – 1%
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MARCH 2016 SA Real Estate Investor
Industries
Petroleum, diamonds, iron ore, phosphate, feldspar,
bauxite, uranium and gold, cement, basic metal
products, fish, food processing, sugar, textiles, ship
repair
Background
Angola has vast mineral and petroleum reserves, and
its economy is among the fastest growing in the world,
especially since the end of the civil war. In spite of this,
the standard of living remains low for the majority
of the population, and life expectancy and infant
mortality rates in Angola are among the worst in the
world. Angola’s economic growth is highly uneven,
with the majority of the nation’s wealth concentrated
in a disproportionately small sector of the population.
Economy
Angola’s high growth rate in recent years was driven
by its oil sector. Oil production and it’s supporting
activities contribute around 85% of GDP. A post-war
reconstruction boom and resettlement of displaced
persons has led to high rates of growth in construction
and agriculture. Much f the countries infrastructure
has remained damaged or undeveloped after the 27year long civil war and remnants of the conflict, such
as widespread landmines, still mar the countryside.
Subsistence agriculture provides the main livelihood
for most people but half the countries food must still
be imported.
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