Angolan President João Lourenço visited South Africa last week to strengthen economic ties and explore strategic partnerships between the two countries. The visit aimed to boost bilateral trade and investment, identifying opportunities in key sectors such as energy, mining, infrastructure and logistics.
Discussions focused on maximizing the benefits of the African Continental Free Trade Agreement, advancing joint strategies in mineral beneficiation, leveraging Angola’s Lobito Trans-Africa Corridor as a model for regional integration and fostering cross-border opportunities for businesses in both nations.
“[South Africa] seeks to revitalize our industrial base, modernize our infrastructure network and strengthen logistics and supply chain connectivity with the rest of the continent. This presents significant opportunities for cooperation in various sectors such as agriculture and agro-processing, energy, rail rolling stock, infrastructure, healthcare, oil and gas as well as mining and mineral beneficiation,” stated South African President Cyril Ramaphosa.
To further support bilateral partnerships, the leaders agreed to restructure the existing Joint Commission of Cooperation into a Bi-National Commission (BNC). The BNC aims to deepen collaboration, with the inaugural session scheduled for 2025.
“More than 20 South African entities are already investing in Angola in a range of sectors, including rail, agriculture, industrial parks, oil refineries, manufacturing, IT financial services and logistics. South African Development Finance Institutions are also financing several key projects in Angola. We would like to see more Angolan Foreign Direct Investment inflows into the South African economy,” President Ramaphosa added.
