Angola’s oil and gas sector, which comprises over 90% of the country’s exports, is expected to play a crucial role in diversifying and growing its economy. The government aims to create a more favorable business environment to encourage private investment and local content development.
As part of this strategy, the Minister of Finance, Vera Daves de Sousa, has highlighted the potential for significant improvements in agriculture, fisheries, and industry, driven by the oil sector.
Angola’s agriculture, despite accounting for approximately 9.5% of GDP and employing nearly half of the population, has vast untapped potential. The country possesses diverse and fertile land suitable for various crops and livestock.
However, only a small portion of the arable land is currently cultivated, and subsistence farming is prevalent. Climate change vulnerabilities have also prompted the need to adapt the agricultural sector to enhance resilience and adaptation.
To support the growth of the agricultural sector, the government has initiated various projects, including the Angola Commercial Agriculture Project and the Smallholder Agricultural Transformation Project, both financed by international financial institutions.
These projects aim to increase agricultural productivity, market access for commercial farms, and the adoption of climate-smart agricultural techniques. The goal is to boost resilience, food security, and nutrition while reducing the sector’s environmental impact and the country’s reliance on imports.
Rapid developments in Angola’s agricultural landscape are driven by urbanization, infrastructure improvements, and increased availability of imported products. The country’s political stability, abundant hydrocarbon and mineral wealth, and access to populous markets make it an attractive market for international investors.
