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A Home for Global Players: How Stability has Fueled Foreign Direct Investment in Angola

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Energy Capital

Over the past decade, Angola has undergone a quiet but decisive transformation. Once viewed primarily through the lens of production decline, the country has repositioned itself as one of Africa’s most stable and attractive destinations for foreign direct investment (FDI). Policy overhaul, the establishment of a dedicated upstream regulator and a commitment to flexibility has made the country a preferred destination for upstream investment – particularly for international oil companies (IOCs) seeking predictability in an ever-changing global climate. As a result, Angola expects an upstream investment pipeline of $70 billion (http://apo-opa.co/49KDXYi) in the next five years, signaling the country’s standing as a home for global oil and gas players.

Policy Certainty as an Investment Catalyst

Angola’s ability to attract billions of dollars in upstream FDI is largely attributed to its strategic approach to policy restructuring. Following the establishment of the National Oil, Gas & Biofuels Agency (ANPG) in 2019 and the subsequent launch of a multi-year licensing strategy, the country was able to attract sustained investment in undeveloped blocks. Between 2019 and 2025, 64 blocks were offered, of which 37 were awarded and 27 are currently under approval or negotiation. Further supporting investment, the government introduced a Permanent Offer Regime in 2021 and marginal field opportunities in 2024, allowing the ANPG to by-pass traditional bidding rounds. This made assets permanently available to investors, allowing operators to expand their portfolios while supporting new entrants in the market.

The country is also leveraging policy to incentivize investment across mature assets under an overarching target of sustaining production above one million barrels per day. With the launch of the Incremental Production Decree in 2024 – featuring a specialized legal and tax framework (http://apo-opa.co/49OSFh6) for mature assets – Angola introduced significant fiscal incentives, including reduced Petroleum Production Tax and Petroleum Income Tax rates. ExxonMobil was the first to deliver a discovery through this decree, with the Likembe-01 well drilled in Block 15 in 2024. Additional policies such as the Gas Master Plan – offering a framework for investing across the gas value chain – are expected to further support spending, consolidating Angola’s position as a leading FDI destination in Africa.

IOCs Double Down on Angolan Investment

Angola’s FDI attractiveness is reinforced by IOC activity across the market. Leading operators continue to consolidate their portfolios, pursuing new acreage while reinvesting in mature blocks. At Angola Oil & Gas (AOG) 2025, energy majors announced billions of dollars (http://apo-opa.co/4q5Nzlh) for Angolan projects, underscoring a commitment to the country’s upstream development. Through its joint venture Azule Energy, Eni plans to invest $5 billion in the market over the next several years, building on $5 billion invested to date. TotalEnergies plans to invest $3 billion through its Dalia Life Extension project, while ExxonMobil could invest as much as $15 billion in Angola – contingent on exploration results. Shell’s return to Angola in 2025 further reinforced the country’s renewed appeal to global investors, with the company set to invest $1 billion on new oil blocks in the country.

On the project front, TotalEnergies is developing the $6 billion Kaminho deepwater development, targeting a 2028 start. Azule Energy is scaling operations at the Agogo Integrated West Hub Development and New Gas Consortium project, following the start of operations at both in 2025. Meanwhile, Chevron is expanding oil production, with the South N’dola field delivering first oil in December 2025. These advancements signal strong investor confidence in Angola’s capacity to support large-scale, long-term hydrocarbon projects.

From Conference Floor to Project Delivery

As Angola consolidates its position as a stable, investment-ready market, the AOG Conference & Exhibition – returning to Luanda from September 9-10, 2026 – has emerged as the industry’s primary platform for translating policy into projects. The conference has consistently served as the official meeting place for IOCs and government, facilitating deal-making, portfolio expansion and strategic alignment. As Angola sharpens its focus on IOC-led investment in 2026, AOG will remain central to driving capital deployment, project execution and long-term value creation across the country’s hydrocarbon sector. The event will feature a day of technical workshops on September 8, 2026.

Distributed by APO Group on behalf of Energy Capital & Power.

Business

Afreximbank Backs DOTT Services Limited, Uganda with a US$28 Million Facility for Regional Engineering, Procurement and Construction (EPC) Projects

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The financing will enhance DOTT’s capacity to execute strategic projects across the continent, facilitate intra-African trade in goods and services and strengthen regional value chains

CAIRO, Egypt, November 4, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has activated and approved a US$28 million dual-tranche facility for DOTT Services Limited, the leading Uganda-based engineering, procurement and construction (EPC) contractor, and has begun disbursing funds to support the execution of its EPC projects pipeline, valued at more than US$550 million.

 




 
 

Provided under Afreximbank’s EPC Contract Promotion Initiative, the facility is designed to strengthen the capacity of African EPC champions to secure and execute large-scale infrastructure projects across the continent. Specifically, the financing will support DOTT Services Limited in executing contracts and pursuing near-term opportunities valued at approximately US$550 million across Uganda, Tanzania, Kenya and the Democratic Republic of Congo.

Commenting on the transaction, Mr. Humphrey Nwugo, Director of Regional Operations at Afreximbank’s Eastern Africa office, said:

Through the initiative, the Bank provides support, including financing, twinning and matchmaking

“This facility reflects Afreximbank’s commitment to building strong African EPC champions capable of delivering the infrastructure that underpins Africa’s industrialisation, trade and economic integration. By supporting DOTT Services Ltd, a well-established regional contractor with operations across five African countries, we are addressing a critical financing gap that has historically constrained the ability of African firms to participate meaningfully in large-scale, cross-border infrastructure projects.

The financing will enhance DOTT’s capacity to execute strategic projects across the continent, facilitate intra-African trade in goods and services and strengthen regional value chains. It also advances Afreximbank’s EPC Contract Promotion Initiative, which seeks to increase African participation in the development and delivery of Africa’s infrastructure.

Through partnerships such as this, we are ensuring that greater value, expertise, employment opportunities and economic benefits are retained within Africa while fostering the emergence of globally competitive African contractors.”

Mr. Nwugo further noted that most local commercial banks lacked the capacity to support intra-African and regional projects because they were poorly placed to absorb the associated cross-border risks, while international banks tended to prioritise non-African contractors. As a result, African entities were often left without adequate financial support.

He said: “Afreximbank’s EPC Initiative was therefore designed to address this challenge by supporting African EPC contractors in securing and executing a greater share of infrastructure contracts across the continent. Through the initiative, the Bank provides support, including financing, twinning and matchmaking, as well as issuing letters of support, among others”, he explained.

DOTT Services Limited presence in Africa spans 28-years, with operations in Uganda, Tanzania, South Sudan, Zambia, and the Democratic Republic of Congo (DR Congo). It also has European offices in Italy and the UK, and a workforce of over 6,000 people. The company procures from, and distributes to, African countries goods such as bitumen, asphalt, steel and spare parts, as well as yellow goods equipment and services, making it a significant player in intra-African trade. Its track record of promoting trade-supporting infrastructure across the continent makes it a natural partner for Afreximbank’s EPC Contract Promotion Initiative, which seeks to build African EPC champions capable of delivering the infrastructure that underpins intra-African trade.

Distributed by APO Group on behalf of Afreximbank.

 

 




 

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Coca-Cola Beverages Africa (CCBA) invests in Africa’s leadership potential through EDGE

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Coca-Cola

Developed in partnership with Henley Business School Africa, the programme equips high-potential leaders with the skills, experiences and perspectives needed to drive growth, create value and deliver impact across the business

JOHANNESBURG, South Africa, November 4, 2026/APO Group/ –Thirty-one leaders from across 12 African countries have graduated from Coca-Cola Beverages Africa’s (CCBA) (https://www.CCBAgroup.com) EDGE Senior Leadership Acceleration Programme, marking the completion of the programme’s second generation and the first pan-African EDGE cohort.

 




 
 

Created by CCBA, EDGE is the company’s flagship senior leadership development programme. Building on previous participation from The Coca-Cola Company, the programme was further expanded in 2026 to include leaders from Equatorial Coca-Cola Bottling Company and Coca-Cola Hellenic Bottling Company, creating a broader pan-African learning experience across the Coca-Cola system.

Developed in partnership with Henley Business School Africa, the programme equips high-potential leaders with the skills, experiences and perspectives needed to drive growth, create value and deliver impact across the business.

The 2026 cohort marks an important milestone for EDGE as the programme brought together leaders from across the Coca-Cola system

The graduating cohort represented leaders from multiple countries and business functions. Through classroom learning, business projects, mentoring and coaching, participants gained practical experience in addressing real business opportunities and challenges.

With CCBA serving more than 840,000 customers across Africa, the company requires leaders who can navigate complexity and create value in diverse markets. EDGE helps build these capabilities through practical, business-focused learning.

“People are at the heart of everything we do, and programmes like EDGE demonstrate our commitment to investing in their growth and future success,” said Natasa Prodanovic, Chief People and Culture Officer at CCBA.

“The 2026 cohort marks an important milestone for EDGE as the programme brought together leaders from across the Coca-Cola system. By learning alongside colleagues from The Coca-Cola Company, Equatorial Coca-Cola Bottling Company and Coca-Cola Hellenic Bottling Company, participants were able to build meaningful connections, share diverse perspectives and strengthen collaboration across our markets.”

The curriculum focused on strategy, value creation, transformation, commercial decision-making, leading self and leading teams. Participants also presented business projects aligned to organisational priorities as part of the programme’s graduation requirements.

EDGE forms part of CCBA’s broader commitment to developing future leaders and building the capabilities needed to drive sustainable growth and impact across Africa.

Distributed by APO Group on behalf of Coca-Cola Beverages Africa.

 

 




 

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Africa and Caribbean trade potential could reach $1.65 billion annually by 2030: International Trade Centre (ITC)-Afreximbank report

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Afreximbank

The report finds that around 80% of Africa’s annual goods export potential to the Caribbean remains untapped

ST. JOHN’S, Antigua and Barbuda, November 3, 2026/APO Group/ –Annual trade in goods and services between Africa and the Caribbean could reach up to $1.65 billion by 2030, excluding mineral fuels, according to a new report launched today by the International Trade Centre (ITC) and African Export-Import Bank (Afreximbank) (www.Afreximbank.com) on the sidelines of the Commonwealth Heads of Government Meeting in Antigua and Barbuda.

 




  

The report, Reshaping Africa-Caribbean Trade: Opportunities for Economic Transformation, (https://apo-opa.co/4eiz62u) finds that while Africa and the Caribbean share deep historical and cultural links, trade between the two regions continues to represent only a small share of each region’s overall trade, despite complementarities across sectors ranging from agribusiness and manufacturing to services and the creative economy.

A look at the numbers

The report finds that around 80% of Africa’s annual goods export potential to the Caribbean remains untapped, with are significant opportunities for export growth if trade and investment is actively promoted and facilitated.

Africa and the Caribbean must transform a shared history into shared prosperity

Caribbean export potential lies in the services sector, reaching $481 million. The report identifies business opportunities across several priority sectors, including processed food and animal feed, chemicals, minerals and metals, apparel and textiles, leather and footwear, tourism, transport services and creative industries.

These findings – and more – are based on trade and export potential analysis, detailed sector assessments and a survey of 1,175 businesses and business support organizations across Africa and the Caribbean.

Tapping into priority sectors

ITC Executive Director Pamela Coke-Hamilton (https://apo-opa.co/3WHHZMU), in launching the report, said: ‘At a time of major shifts in global trade, countries need to strengthen regional ties and invest in value addition, to build resilience. We know the major trade opportunities between Africa and the Caribbean – and now we can focus on helping businesses take advantage of those opportunities through better market intelligence, improved logistics and greater access to finance.’

Commenting on the report, Denys Denya, Senior Executive Vice President at Afreximbank, said: ‘Africa and the Caribbean must transform a shared history into shared prosperity. With our CARICOM office in Barbados, about $1 billion in approved transactions and a $5 billion regional financing commitment, Afreximbank is advancing this vision through financing, deposit mobilization under CENDEP, business links through the annual Afri-Caribbean Trade and Investment Forum, local-currency payments through CAPSS and creative-industry collaboration through CANEX. This report offers a practical roadmap to turn untapped potential into bankable opportunities across agribusiness, manufacturing, tourism and the creative economy. Through targeted financing, stronger transport and logistics links and strategic partnerships, we can build a Global Africa connected by heritage, trade, investment and shared opportunity.’

The report finds that businesses continue to face significant challenges, including high transport costs, limited direct shipping links, regulatory barriers, limited access to finance and difficulties in identifying trusted commercial partners. It highlights that future economic cooperation should extend beyond traditional trade in goods, including through joint investment ventures, digital services, creative industries and tourism. It also calls for targeted action to improve market intelligence and business matchmaking; expand access to trade finance and payment solutions; strengthen transport and logistics connectivity; support sector-specific value chain development; improve regulatory cooperation and market access; and foster stronger partnerships among business support organizations.

Read the full report HERE (https://apo-opa.co/4exHBH9)

Distributed by APO Group on behalf of Afreximbank.

 




 

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