South Africa business delegation seek for trade and investment opportunities in Angola
A South African business delegation is in Luanda, Angola in search of export market as part of the Outward Trade and Investment Mission.
The companies are operating in infrastructure, construction and rail, aerospace and defence, built environment professions, mining, agro-processing, agriculture and agri-business sectors.
The mission is organised and funded by the Department of Trade and Industry (the dti) through its Export Marketing and Investment Assistance (EMIA) Scheme. The objective of the scheme is to develop export markets for South African products and services and to recruit new foreign direct investment into the country.
Addressing the delegation upon arrival, the South African Ambassador to Angola, Mr Fannie Phakola said that Angola has a wealth of trade and investment opportunities which South African businesspeople can take advantage of. He advised the delegates to not only pursue trade opportunities but strive for long-term investments.
“Angola is a very rich country in terms of minerals and has the potential for growth. I would like to urge everyone who is part of the mission to respond positively to the economic opportunities that have been made available by President Mr Joao Lourenco following his official State Visit to South Africa. The gesture itself signalled how interested the President Lourenco is in creating partnerships between the business communities of the two countries,” said Phakola.
He added that Angola was currently scaling up the industrialisation of the economy following its over-reliance on oil, and that automatically positions the country as a potential market for South African businesspeople who are willing to tap into the market and grow their businesses.
According to the Deputy Minister of Trade and Industry, Mr Fikile Majola the mission to Angola will serve as an opportunity to position South Africa as a preferred trade and investment partner through structured, focused and sustained commercial engagements in the targeted sectors.
The programme for the Angola mission will include trade and investment seminars, targeted business-to-business meetings, and sector specific site visits.