AGP Executive Report

Agro-Industrial Push: Angola launched the “AgroCorridors Angola” program in Benguela to modernize farming and boost food security, linking the Lobito and Malanje corridors with IFAD, the World Bank, AfDB, FAO and the EU, and backing mechanization, irrigation, seeds/fertilizer access and rural extension. Infrastructure Finance: The Lobito Corridor railway project hit a $753m financial close, supporting the 1,300 km Lobito–DRC border line with funding from US DFC and DBSA, aiming to unlock copper and regional trade. Telecom Privatization: Unitel, Angola’s largest telecom operator, is set to launch an IPO roadshow next week on BODIVA as part of a wider privatization drive. Digital Economy: Luanda will host FNIA 2026 (13–14 July) to tackle AI, data governance and cybersecurity for business competitiveness and public services. Policy & Industry Capacity: Angola is drafting a new National Science, Technology and Innovation policy to strengthen research, innovation and the productive sector. Maritime Security: Angola’s Defence Minister called for coordinated, multidimensional maritime security to tackle piracy, trafficking, illegal fishing and pollution.

AgroCorridors Angola: Angola launched “AgroCorridors Angola” in Benguela to modernize farming and boost food security, linking the Lobito and Malanje corridors with IFAD, the World Bank, AfDB, FAO and the EU, and pushing mechanization, irrigation, seeds/fertilizer access and rural extension. Lobito Corridor Rail: The Lobito Corridor railway hit a $753m financial close, backing rehabilitation and long-term operation of the 1,300km Lobito–DRC link, with US DFC and AfDB funding and a Mota-Engil/Trafigura joint venture. Unitel IPO Prep: Luanda-based telecoms giant Unitel said it will start an IPO roadshow next week on BODIVA as part of Angola’s privatization push. Science & Innovation Policy: Angola moved to craft a new National Science, Technology and Innovation policy to strengthen research, innovation and the productive sector. Digital Angola: Luanda hosted the 2nd National AI forum (FNIA 2026) focused on data and decision-making for business and public services. Maritime Security: Angola’s Defence Minister called for coordinated, multidimensional maritime security to tackle piracy, trafficking, illegal fishing and smuggling. Oil Price Pressure: Falling crude expectations are squeezing exporter budgets across Africa, with Nigeria’s heavy crude-revenue dependence highlighted.

Lobito Corridor Finance: Angola’s Lobito Corridor railway project has reached a $753m financial close, backed by the Africa Finance Corporation, with $553m from the US International Development Finance Corporation and $200m from the Development Bank of Southern Africa, supporting the 1,300km brownfield link from the Port of Lobito to the DRC border. Industrial Credit & Agri-Production: Huambo’s PRODESI programme has unlocked over AKz 10bn since 2022 for 125 projects and 30 agricultural cooperatives, though officials flag slow bank bureaucracy affecting repayments and access to credit. Science & Innovation Policy: Angola is moving toward a new National Policy for Science, Technology and Innovation, aiming to strengthen research, innovation and the productive sector while addressing weak coordination and limited research funding. Telecom Privatisation Push: Unitel, Angola’s largest telecom operator, is preparing an IPO roadshow next week ahead of a listing on BODIVA, as part of broader privatisation efforts. Tourism & Language Access: Angola co-chairs a UN Tourism regional commission meeting in Seychelles and is also pushing for better broadcasting in Angolan native languages to widen information access beyond Portuguese.

PRODESI Credit Boost in Huambo: Angola’s PRODESI has unlocked over AKz 10 billion since 2022 for 125 projects and 30 agricultural cooperatives in Huambo, mainly to expand farm production—though some entrepreneurs still struggle with bank bureaucracy and repayment delays. Science & Innovation Policy: Angola is moving ahead with a new results-focused National Policy for Science, Technology and Innovation, aiming to strengthen research, innovation and the productive sector, while tackling weak coordination and limited funding. Electricity Tariff Reality Check: A policy explainer argues Africa’s tariff debate should focus on whether consumers pay for efficient power or for losses, debt and weak planning—an issue that directly affects industry competitiveness. Ebola Economic Risk: UNDP warns the Central Africa Ebola outbreak could cost Africa up to $3.6bn and push hundreds of thousands into poverty, with spillovers to jobs, healthcare and education. Oil Market Pressure: Brent’s outlook is turning bearish-to-neutral for H2 2026 as geopolitics normalise and supply concerns rise. Tourism & Partnerships: Angola’s Vice-President met the Tucker family on education, tourism and environment cooperation, while Angola co-chairs the UN Tourism regional commission meeting for Africa in Seychelles.

Science & Innovation Policy: Angola is moving to a new National Policy for Science, Technology and Innovation, with a results-focused plan to strengthen research, innovation and the productive sector, while tackling weak coordination and limited funding. Power Tariffs & Industry Costs: A new Africa-wide explainer argues electricity tariffs must be judged by whether consumers pay for efficient supply—not losses, debt, weak governance or poor planning—highlighting what policy must fix for industry competitiveness. Ebola Economic Shock: UN warnings say the DRC-centered Ebola outbreak could cost Africa up to $3.6bn and push nearly 1m more people into poverty, with spillovers that could hit jobs, healthcare and education. Oil Market Disruptions: China’s Hengli Petrochemical has cancelled millions of barrels of crude purchases amid US sanctions pressure, a reminder of how quickly refinery sourcing can swing. Angola Energy & Finance: Afreximbank reaffirmed support for Dangote’s energy push, including $2.5bn for expansion, framed as a step toward Africa’s energy self-sufficiency. Tourism & Media: Angola co-chairs UN Tourism’s Africa commission meeting in Seychelles and urged broader broadcasting in Angolan native languages to improve coverage beyond Portuguese-speaking audiences. Credit Growth: Angola’s non-financial sector credit rose to Kz 8.9tn in May, with most lending tied to the private sector.

Defense & Security: Angola hosted the 2026 African Chiefs of Defense Conference, with AFRICOM and Angolan forces stressing regional peace, sovereignty, and cooperation against cross-border threats. Tourism & Services: Angola co-chairs the UN Tourism Regional Commission for Africa meeting in Seychelles (July 2–4), pushing sustainable tourism policy and investment. Broadcasting & Culture: Angola’s telecoms minister urged radio to expand coverage in Angolan native languages, linking it to national digital transformation and RNA modernization. Energy Finance & Refining: Afreximbank backed the Dangote Group’s push for Africa’s energy self-sufficiency, citing refinery expansion funding and claims of reduced FX pressure. Oil & Industry Supply Chains: Azule Energy’s Greater PAJ offshore project advanced with major subsea and pipeline contracting, including Vallourec line pipes and Baker Hughes subsea systems for ultradeepwater Angola. Banking & Credit: Angola’s gross credit to the non-financial sector rose to Kz 8.9 trillion in May, with private-sector debt driving most of the increase. Innovation & IP: Angola signed a validation agreement with the European Patent Organisation during an EPO visit, aiming to strengthen patents, technology transfer, and the innovation ecosystem. Public Health Risk: UN warnings on Ebola’s economic hit flagged potential spillover risks to the region, including Angola.

Energy Policy & Tariffs: A new analysis argues Africa’s electricity tariff debate is really about whether bills cover efficient power or losses, debt, weak governance and planning failures. Oil & Gas Supply Chain: Azule Energy’s Greater PAJ offshore Angola project moves forward with major subsea and pipeline contracting, including Vallourec line pipes for ~210 km of infrastructure and other supplier awards tied to the 2029 first-oil timeline. Upstream Reform Lessons: A piece on Namibia’s frontier oil playbook points to Angola’s upstream reforms as a model for fiscal certainty and lower execution risk. Industrial Finance: Angola’s central bank reports gross credit to the non-financial sector at AKZ 8.9 trillion in May, with most lending to the private sector. Innovation & IP: Angola signs a validation agreement with the European Patent Organisation, aiming to strengthen patents, technology transfer and the innovation ecosystem. Security & Regional Cooperation: AFRICOM and Angola kick off the 2026 African Chiefs of Defense Conference, focusing on transnational threats and stability. Public Health Link to Industry: UN warnings on Ebola’s potential $3.6bn cost to Africa highlight how health shocks can disrupt jobs and development.

Banking Credit Watch: Angola’s National Bank says gross credit to the non-financial sector hit AKZ 8.9 trillion in May, up 14.1% year-on-year, with 84.6% tied to private borrowers and the private sector debt rising to AKZ 7.6 trillion. Energy & Industry Contracts: Azule Energy (Eni/BP) awarded Vallourec a major Greater PAJ line-pipe deal for Angola—26,000+ tons of seamless carbon steel for about 210 km of pipeline, with deliveries from July–Dec 2027 for production, injection, and gas export lines in ultra-deepwater. Oil Market Pressure: With Brent down 4.44% to $71.92/bbl amid easing Strait of Hormuz supply fears, regional coverage highlights how Angola-linked crude pricing pressures are being managed across Africa’s oil trade. Public Finance & Exports: Angola’s oil and diamond exports are projected to underpin USD 31.3bn in 2025 export revenue, with hydrocarbons and minerals at 97.88% of national exports. Power Expansion: Malanje province is set to add grid access for 47,000+ residents via new 110 kV transmission lines and substations, supporting household and production demand. Trade Integration: Angola’s delegation is in Abuja for AfCFTA talks focused on turning women-led trade rules into action, alongside corridor and transport connectivity discussions. Health Risk: The UN warns the DRC/Uganda Ebola outbreak could cost Africa up to $3.6bn and trigger major job losses if it spreads further, including to countries like Angola.

Offshore Oil & Gas Supply Chain: Vallourec won Azule Energy’s Greater PAJ contract in Angola, set to deliver 26,000+ tons of seamless carbon steel line pipes (about 210 km) for production, water injection and gas export lines, with deliveries running July–Dec 2027 and first oil targeted for mid-2029. Energy & Industrial Jobs: A broader push to turn energy into jobs and industry sits alongside Angola’s continued grid expansion, including Malanje/Kiwaba N’Zogi and Malanje/Caculama-Mucari transmission and distribution works to connect 47,000 residents starting next year. Trade & Integration: Angola validated its AfCFTA national strategy and action plan in Luanda, aiming to turn market access into industrialisation and diversification. Macroeconomic Snapshot: Angola’s oil and diamond exports are projected to generate about USD 31.3bn in 2025, with hydrocarbons and mineral resources driving nearly all exports. Cost Pressures: A report on Africa’s cost of living flags Angola among the higher-cost countries, pointing to import dependence, weak currencies and transport frictions. Regional Context: The week also highlighted how fuel-price shocks can trigger unrest, with Luanda protests linked to diesel price increases.

Angola’s Trade Engine: Angola’s Mineral Resources, Oil and Gas sector generated an estimated USD 31.3bn in export revenue in 2025, led by crude oil (USD 24.5bn), with diamonds hitting 15.2m carats (+7.9% vs 2024) and hydrocarbons/minerals making up 97.88% of exports. Oil Supply & Refining Links: Nigeria’s Dangote refinery is buying crude from the UAE and, separately, Nigeria imported about 2m barrels of Libyan crude in May 2026—signals of regional feedstock reshuffling that can affect Angola’s crude pricing and export flows. AfCFTA Implementation: Angola validated its AfCFTA national strategy and action plan in Luanda, aiming to turn market access into real industrial and diversification gains. Power for Industry: Malanje province is set to add grid electricity for 47,000 people via new transmission/distribution lines and substations, supporting households and production facilities. Agri-Industry Push: Angola’s coffee drive continues—Cuanza-Norte targets 800 tons this year, while Huambo and other provinces expand Arabica nurseries to lift output and exports.

AfCFTA Implementation: Angola validated its national AfCFTA strategy and action plan in Luanda, aiming to turn market access into faster industrialization and economic diversification. Offshore Oil & Gas: Eni-BP Azule Energy JV declared final investment decision on the $5.1bn Greater PAJ ultradeepwater project offshore Angola, with first oil expected in 2029; TechnipFMC and Saipem also landed major subsea and flowline/riser work. Industrial Jobs: Angola’s Special Economic Zone (ZEE) plans to lift employment from 12,000 to about 30,000 as industrial rehabilitation and new support services come online late 2026. Port & Logistics: Sogester took over management of the Soyo River Terminal in Zaire province for 20 years, signaling continued port modernization and coastal shipping support. Agriculture & Inputs: Bengo’s Banana Fair is building partnerships to expand local organic fertilizer production and cut imports, while Huambo and Cuanza-Norte push coffee revitalization and higher harvest targets. Climate & Mobility: Angola reaffirmed climate commitments, including integrating human mobility into public policy as droughts, floods, and water scarcity disrupt livelihoods.

Angola’s Industrial Jobs Push: Luanda’s Special Economic Zone (ZEE) says it will lift employment from 12,000 to about 30,000 as new projects start, with administrative and support services due late 2026 and several rehabilitated factories returning to production. Offshore Oil Buildout: TechnipFMC won a flexible flowlines and risers contract for Azule Energy’s Greater PAJ offshore Angola, while Saipem confirmed about a $1bn subsea equipment and pipeline deal; first production is targeted for 2029. Port & Logistics Upgrade: Sogester took over management of the Soyo River Terminal in Zaire for 20 years, aiming to modernize operations and boost coastal shipping. Agriculture Inputs & Fertilizer: Bengo’s Banana Fair is driving partnerships to expand organic fertilizer production locally and cut imports, with plans to scale output and link farmers, suppliers, and investors. Coffee Revival on the Ground: Angola’s coffee push continues: Mungo highlighted Arabica revitalization and nurseries, while Cuanza-Norte targets an 800-ton harvest this year. Climate Policy & Mobility: Angola’s environment ministry reaffirmed climate commitments and stressed integrating human mobility into public policy as droughts, floods, and water stress hit livelihoods.

Offshore Oil Push: Azule Energy and partners have taken final investment decisions for the $5.1bn Greater PAJ deepwater project off Angola, with first oil expected in 2029 and major engineering and subsea work lined up (including TechnipFMC flexible flowlines/risers and Saipem subsea equipment). Industrial Jobs Boost: Angola’s Special Economic Zone (ZEE) says it will scale employment from 12,000 to about 30,000 as industrial rehabilitation and new support-service areas come online late 2026. Port & Logistics Upgrade: Sogester has taken over management of the Soyo River Terminal for a 20-year concession, marking a step in port modernization and coastal shipping capacity in Zaire. Extractives Coordination: Angola’s gas, oil and minerals chamber is calling for a single platform to link local content, logistics and financing across the extractive value chain. Climate Policy: Angola reaffirmed its commitment to integrating human mobility into public policy as droughts, floods and livelihood losses intensify. Agriculture & Seeds: Huambo municipal agriculture teams visited research facilities to expand improved seed varieties and soil-focused practices to raise local production.

Agriculture & Seeds: Huambo’s municipal agriculture teams toured the Institute of Agronomic Research to learn how improved beans, sweet potatoes, maize, and other crops can cut field losses, with plans to expand locally produced seed supply. Industrial Jobs: Angola’s Special Economic Zone (ZEE) is targeting about 30,000 jobs from 12,000 as rehabilitated factories restart and new industrial support services open late 2026. Climate & Mobility: Angola reaffirmed its climate commitment, stressing that droughts, floods, and water scarcity are already driving human mobility and must be met with better data, coordination, and climate finance. Port & Logistics: Sogester took over management of the Soyo River Terminal for 20 years, bringing port operations know-how and integrating 30 transferred workers. Oil & Offshore Supply Chain: TechnipFMC won a flexible flowlines and risers contract for Azule Energy’s Greater PAJ offshore project, while Saipem confirmed major subsea equipment work as first oil is expected in 2029. Extractives Integration: Angola’s gas, oil and minerals chamber pushed for a single platform linking oil, gas, and mining on local content, logistics, and financing. Livestock Border Policy: Angola’s agriculture ministry denied claims that removing the Veterinary Cordon Fence (“Red Line”) is impossible, reiterating gradual removal under health and trade safeguards. Regional Finance: Afreximbank appointed Peter Adeshola Olowononi as Southern Africa Director of Regional Operations, effective May 1.

Afreximbank Leadership: Afreximbank appointed Peter Adeshola Olowononi as Director of Regional Operations for Southern Africa, effective May 1, overseeing a 13-country region including Angola and backing industrial and infrastructure finance. Oil & Gas Investment: Angola’s upstream push stays on track as Azule Energy advances the Greater PAJ offshore project, with Baker Hughes winning a subsea production systems contract for ultra-deepwater operations starting 2027. Extractives Integration: Angola’s gas, oil and minerals business chamber urged a single platform for the extractive industry to align local content, logistics and financing, as the country targets diversification beyond oil. Angola’s Trade & Ports Links: Angola and Namibia signaled deeper port cooperation, with Namibe and Walvis Bay urged to share operational and commercial know-how. Ebola Pressure on Health Systems: CDC Africa warned the DRC Ebola outbreak is straining hospitals and spreading beyond the region, pushing for urgent treatment centres and new clinical trials. Regional Energy Markets: Reports also flagged shifting OPEC dynamics as Iraq weighs its position over quota levels amid Gulf disruption.

Offshore Oil & Services: Baker Hughes won a contract from Azule Energy to deliver subsea production systems for the Greater PAJ project offshore Angola, covering ultra-deepwater horizontal tree systems and control modules, with deliveries starting in 2027. Upstream Strategy: Angola is also leaning on AI to reprocess legacy seismic data across basins like Kwanza and Namibe, aiming to unlock dormant discoveries and cut drilling risk. Extractives Diversification: Angola’s Chamber of Commerce and Industry for Gas, Oil and Minerals pushed for a single platform linking oil, gas and mining, stressing local content, logistics and financing as the country diversifies. National Production & Agriculture: In Bengo, the Industry and Commerce minister highlighted banana export momentum and the “Transform Here” push to strengthen value chains for small producers. Ports & Trade Links: Namibia’s consul in Ondjiva urged tighter cooperation between Namibe and Walvis Bay ports to share operational know-how and expand mutual development. Connectivity: TAAG Angola began regular flights to Guangzhou, boosting business travel, tourism and cargo links between Angola and China. Governance & Integrity: SADC warned that corruption diverts resources from essential services, calling for stronger procurement transparency and beneficial ownership disclosure. Health Risk: CDC Africa urged emergency Ebola treatment centres in the DRC as cases surge and the outbreak reaches Europe for the first time.