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Angola’s Oil Sector to Stimulate Agricultural Development

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agriculture

Angola is well-positioned to utilize its immense oil wealth to promote economic diversification and stimulate the development of the agriculture sector

LUANDA, Angola, July 21, 2023/APO Group/ — 

With Angola’s oil and gas products making up more than 90% of the country’s exports and accounting for up to $39.94 billion in revenue in 2022, the southern African country’s oil and gas sector is poised to serve as a leading catalyst in growing and diversifying its economy. In an attempt to accelerate economic diversification, private investment and local content development, Angola has sought to create a more favorable business environment for micro-, small-, and medium-sized enterprises to participate in transforming the country into a private sector-led model that is both inclusive and climate resilient.

As such, Angola’s Minister of Finance, Vera Daves de Sousa, has indicated that the country’s oil sector will enable significant improvements in agriculture, fisheries, and industry.

In 2021, agriculture accounted for approximately 9.5% of Angola’s GDP while providing employment to just under half (46%) of the country’s population. Boasting a diverse and fertile ecology, Angola holds the potential to become one of the leading agricultural producers on the continent. The country’s arable land is well-suited to a variety of crops and livestock including cassava, bananas, potatoes, corn, sweet potatoes, citrus and pineapples. Despite its potential, however, Angola currently cultivates a mere 10% of its 350,000km2 of arable land, with an estimated 88% of the country’s farms serving as small to medium in size and mainly used for subsistence farming.

Boasting a diverse and fertile ecology, Angola holds the potential to become one of the leading agricultural producers on the continent

In recent years, Angola’s vulnerability to climate change has exacerbated the need for the country to adapt its agricultural sector to support resilience and adaptation. As such, the Government’s Angola Commercial Agriculture Project, which is co-financed through international financial institution the World Bank as well as public financial institution the French Development Agency, will mobilize up to $230 million to increase agricultural productivity and market access for more commercial farms in the country. As of 2023, the Project’s interventions have resulted in the approval of 25 business plans to the tune of $7.7 million as well as the issuance of 16 partial credit guarantees for the agricultural sector, resulting in over $1 million in local investment.

What’s more, the World Bank approved the $300 million Smallholder Agricultural Transformation Project in 2022, which is set to expand Angola’s efforts to transition towards climate-resilient farming. The purpose of the project is to increase agricultural production while supporting smallholder farmers to adopt climate-smart agricultural techniques. Furthermore, the project will ensure agricultural surplus to sell to local markets while strengthening water resource management in the country.

In conjunction, these initiatives are poised to increase resilience, food security and overall nutrition while reducing the sector’s environmental footprint and the country’s dependence on imports. Angola currently imports approximately 150,000 tons of wheat flour per year. As such, Angola’s Credit Support Program has provided financing worth $20 million to Angolan processing company Induve to construct a wheat mill capable of processing an average of 255,000 metric tons of wheat per year.

Increasing urbanization, improvements in infrastructure, and an increase in imported product availability are driving rapid developments in Angola’s agricultural landscape, with various strategic elements such as political stability, high hydrocarbon and mineral wealth, and access to large, populous markets serving to transform the country’s agricultural sector into an attractive market for international investors.

On the precipice of this industrial and socioeconomic transformation, this year’s Angola Oil & Gas 2023 conference and exhibition (https://apo-opa.info/3PTENZ0) – which is organized by Energy Capital & Power – is set to usher in a new wave of international investment and ambitious development opportunities. Taking place in Luanda from 13-14 September 2023, this monumental event will unite African energy and petroleum ministers, global investors, and energy leaders for two days of panel discussions, exhibitions, and deal-signing opportunities, accelerating the growth of the country’s multi-faceted energy industry.

Distributed by APO Group on behalf of Energy Capital & Power

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As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

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February 6, 2026

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The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

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Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

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February 6, 2026

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After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

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The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

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February 6, 2026

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This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

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