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Strengthening business relations between Angola and Norway

Today’s visit to Angola by Prime Minister Erna Solberg – the first ever visit by a Norwegian Prime Minister – is strengthening business relations between Angola and Norway.

President João Lourenço took the helm in September 2017 with new business friendly reforms and increased focus on anti-corruption.

– The timing of this visit could not have been better – we are experiencing winds of change in Angola these days, and this brings more confidence, says Eivind Fjeldstad, Managing Director of NABA. Together with Norwegian Energy Partners (NORWEP), NABA organised a business delegation in connection with the Prime Minister’s visit on the 3rd of December. Several NABA members have already been active in Angola for many years, including Equinor, Aker Solutions, DNV GL and DOF Subsea. Norfund is also present through their investment in Angola Capital Partners, with its two funds FIPA 1 and FIPA 2. Angola is Norway’s most important economic partner on the African continent. In connection with the Prime Minister’s visit Equinor announced that the company has produced one billion barrels of oil so far in Angola.

On Monday morning NABA member Standard Chartered Bank hosted a breakfast session for the Norwegian companies focusing on Angola’s economy and the prospects, followed by a lunch session with Angolan business people and experts, discussing the recent changes happening in the country and how this is affecting the business environment. The Norwegian Embassy in Luanda organised a meeting where Norwegian companies met with Prime Minister Erna Solberg and State Minister Manuel Nunes Júnior, Minister of Mineral Resources and Petroleum Diamantino Azevedo and Minister of Foreign Affairs Manuel Domingos Augusto. In this meeting company representatives were able to address both challenges they are facing in Angola, as well as new investment opportunities. During the Angola – Norway Business Forum in the afternoon both Prime Minister Erna Solberg and State Minister Manuel Nunes Júnior gave speeches, and a panel conversation including the Minister of Petroleum and Resources, Chairperson of Sonangol, Angola Capital Partners, APIEX – the Agency for Investment and Export Promotion of Angola, as well as Equinor and Aker Solutions, provided their advice and experiences. Approx 200 business people from both Norway and Angola participated in the business forum.

At the Angola – Norway Business Forum NABA also announced a follow-up business mission – most likely taking place in February 2019.
-Angola is currently welcoming companies from sectors such as energy, agribusiness, fisheries, tourism and technology. Please reach out and we will provide more information about next year’s business mission, says Fjeldstad.

You can read Prime Minister Erna Solberg’s opening speech at the Angola – Norway Business Forum here: https://www.regjeringen.no/no/aktuelt/norway-as-a-consistent-partner-in-angola/id2621191/