Africa Business Communities

[Angola] The German African Business Association is hosting the business forum in the most expensive capital of the world

The German African Business Association is hosting on 21 and 22 July the 6th German-Angolan economic forum in Luanda. Brigitte Zypries, the Parliamentary State Secretary will start off the forum. Zypries will travel with an exalted business delegation to the most important multi sector fair of the country: Feira Internacional de Luanda (FILDA).

Christoph Kannengießer, the CEO of the German African Business Association says: “ The visit of the Parliamentary State Secretary and the special status, which Germany as a host country is enjoying, will create a fruitful base for the conversations during the business forum. The forum underlines the growing meaning of Angola for foreign investors and the good economic cooperation of both countries. We assume that many business deals will be sealed.”

Especially within the energy sector many German companies are active in Angola. They are working together on the future with the establishment of many training centers. The CEO of the German African Business Association states: “Now it is important to expand this success in the health sector.” Although the conditions are difficult, Angola has a stable market with very good perspectives. The German Foreign Trade increased in 2014 with 29%, so 375 Million Euros.

After the Angolan civil war in 2002, Angola experienced an economic boom. By now Angola is the second biggest economy of the SADC region (Southern African Development Community). After Nigeria Angola belongs to the biggest fossil oil exporters. To reduce the dependency on oil, the diversification of mining stays in focus. Angola is the third biggest buyer of German products in Sub-Saharan Africa. The exchange of goods is limited to fossil oil, natural gas and other mineral resources. Angola has also a large interest in machines, vehicles and other technical goods “Made in Germany”. Luanda, the capital of Angola is considered to be the most expensive capital of the world. The business consultancy firm Mercer published a ranking regarding living costs for foreigners and Luanda was again on the first place. 

www.afrikaverein.de

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