Angola: African Development Bank Group notes country’s excellent economic and fiscal reform | African Development Bank

At the end of a three-day official visit to Angola, Leila Mokaddem, director general of the African Development Bank Group for Southern Africa, praised the Lusophone nation for its continued economic reforms.

Mokaddem visited Angola from November 8 to 9, 2022, where she met with members of the government in key portfolios. Her visit focused on the preparation of a new strategic framework to steer the African Development Bank’s support for Angola’s economic transformation.

The Director General met Manuel Nunes Junior, Minister of Economic Coordination; Vera Daves de Sousa, Minister of Finance and Governor of the African Development Bank for Angola; Milton dos Santos Reis, Secretary of State for Planning; Ivan Marques dos Santos, Secretary of State for Economic Affairs and António da Costa, Secretary of State for Energy and Water. She also spoke with key development partners to discuss coordination of efforts and, together with Davis de Sousa, opened a workshop validating the Bank Group’s assessment of Angolan procurement systems.

Accompanied by Pietro Toigo, Country Manager for Angola, the delegation heard about the main economic priorities that will be set out in the upcoming National Development Plan. The director highlighted the bank’s initiatives to accelerate youth employment and encouraged private sector involvement in the provision of infrastructure through PPPs, highlighting options for accelerated investment in agriculture.

Concluding her visit, Mokaddem said: “I was impressed by the remarkable economic and fiscal reforms Angola implemented during a very difficult global situation. With the economy stabilized and fiscal space created, Angola can now invest to improve its infrastructure, stimulate the private sector and accelerate job creation. The African Development Bank is ready to support the country in this effort towards economic transformation.”

Angola has been a shareholder in the Bank since 1977. The African Development Bank in Angola has a $1.05 billion portfolio across four of its High Five priority areas: Power Africa (44%), Improving the quality of life of the people of Africa (31%), Feed Africa (17 %) and Industrialize Africa (8%). The activities are focused on five sectors: Power, Agriculture, Social, Finance, Water & Sanitation.