Angola - Summit Reports · Bantu and other African languages GDP: $20.42 billion (2003 est.) ......

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AngolaFACTS &FIGURESOFFICIAL COUNTRY

NAME:Republic of Angola

CAPITAL: Luanda

TOTAL AREA: 481,354square miles

POPULATION:10,978,552

(July 2004 est.)

LANGUAGES:Portuguese (official),

Bantu and other Africanlanguages

GDP: $20.42 billion(2003 est.)

GDP (REAL GROWTHRATE): 1.5% (2003 est.)

NATURALRESOURCES:

petroleum, diamonds,iron ore, phosphates,copper, feldspar, gold,

bauxite, uraniumservices: 25% (2001 est.)

Economic diamond setto shine onglobal scene

ANGOLA’S internationalimage, after almost threedecades of civil conflict, hassuffered considerably. But thewar has been over for morethan two years, and the emerg-ing opportunities inthis resource-richcountry are begin-ning to be noticedaround the world.

Although theeconomy is still high-ly dependent on theoil sector, which ac-counts for nearly halfof GDP and about90% of the govern-ment’s revenuesand export earnings,the country is alsoreliant on donorfunding. Its relation-ships with interna-tional finance insti-tutions such as theI n t e r n a t i o n a lMonetary Fund(IMF) are key to theongoing economicrecovery. An IMF in-vestigation in Aprilthis year cleared theA n g o l a nGovernment of accusationsthat donor money was beingmisappropriated, one of thechief concerns of the interna-tional community. “We are en-tering a new era in our rela-tionship with the IMF,” saysAguinaldo Jaime, the DeputyPrime Minister. The findingsgo a long way towards erad-

icating notions of governmentcorruption, one of the princi-pal negative perceptions of thecountry.

The current peaceful andstable political climate is the

opportunity Angolaneeds to develop itstrue potential. In ad-dition to oil, Angolaboasts reserves ofgold and diamonds,and has thrivingforests, Atlantic fish-ing grounds and afavourable climate foragriculture. Indeed,Angola has thefastest-growing econ-omy of the SouthernAfrican DevelopmentCommunity (SADC)member countries.The government isaware of the businessopportunities that arebeginning to blossomin other sectors andis promoting eco-nomic diversificationas one of its mainstrategies. “Now thatwe have stability wewill see the non-oil

sector developing,” says Mr.Jaime.

To this end, the governmentis increasing and streamlininginvestment incentives, and im-proving both physical andcommunications infrastruc-tures. Given the massive fi-nancial outlay required, Mr.Jaime wants more private in-

volvement in infrastructure de-velopment. “We would like tosee private-public partner-ships,” he says.

“Angola cannot reconstructitself on its own. The only so-lution is to create attractiveconditions for the interventionof the private sector,” agreesCarlos Feijó, Advisor to thePresident. New laws aim tomake investment easier andreduce bureaucracy. Equaltreatment is given to foreigncompanies and special treat-ment to companies who em-ploy and train local staff. As Mr.Feijó points out, the correctfiscal and legal conditions arejust as important as physicalinfrastructure.

The country has alreadymade considerable progress inbringing the economy to order.A steadily declining inflationrate, a stable national curren-cy, and the expansion of thebanking industry are helpingto make Angola an ever moreappealing destination for in-vestment. “We have to createa framework for investments,”says Amadeu de JesusCastelhano Mauricio, theGovernor of the Central Bank.

Aware of their importancein creating a strong nationaleconomy, the government isseriously committed to pro-viding health and education toall its citizens. Working hard toachieve this is the EduardoDos Santos Foundation(FESA), which is helping the

PRESIDENT José Eduardo dos Santos (right) with Secretary-General of the United Nations Kofi Annan(left) in a meeting symbolic of Angola’s enhanced international credibility

population to deal with the newchallenges arising in the post-war period. Ismael Diogo daSilva, the Foundation’sPresident says, “It’s necessaryto educate the people.” Hisopinion is reiterated across theboard. “Through education wenow have greater opportuni-ties to generate an improved in-tegration of newfound knowl-edge,” says General KundiPaihama, the Minister ofDefence.

The message is clear. Angolais taking stock of its naturalriches, both human and mate-rial, and is finding the best wayto make use of them. Foreigninvolvement, particularly fromthe U.S. because of their ex-pertise in most economic sec-tors, is being actively sought.And the potential rewards arehigh. “What people must un-derstand is that stability is irre-versible,” says the Deputy PrimeMinister.

AGUINALDOJAIMEDeputy PrimeMinister

CARLOSFEIJÓAdvisor to thePresident

ECONOMIC PROSPECTS APPEAR BRIGHT FOR RE-SOURCE-RICH ANGOLA. ENTICING INVESTMENT ANDBUSINESS PROSPECTS SET AGAINST A BACKGROUNDOF PEACE AND STABILITY ARE INEVITABLY DRAWINGTHE ATTENTION OF THE INTERNATIONAL COMMUNITYTO THIS AFRICAN JEWEL

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AngolaSPECIAL ADVERTISING SUPPLEMENT SPECIAL ADVERTISING SUPPLEMENT

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Fully democratic electionsto pave way for growth

Collaborative approachesto reconciliation

UNITA aims to bring social justice tothe approaching democratic era

ONE of the issues of nationalimportance in Angola at themoment is the holding of pres-idential elections, currentlyscheduled for the second halfof 2006. At an August meet-ing presided over by Presidentdos Santos, Angola’s rulingparty, the Popular Movementfor the Liberation of Angola(MPLA), reiterated the impor-tance of the approval of a con-stitutional, legal, and institu-tional framework, both for theholding of elections and for agreater guarantee of stability,security, and the developmentof Angolan society.

Before elections can takeplace, various requirementsmust be fulfilled, says DinoMatross, the MPLA’s SecretaryGeneral. “The National

Assembly must approve thenew Republic Constitution,” hesays. In addition, electoral lawneeds to undergo a revision,and a census of all Angolansof voting age must be com-piled. What happens after thenext elections is also im-portant – the MPLAwants to ensure thatany project under-taken by the cur-rent governmentthat has repercus-sions on the country’smedium and long-termprospects will be respected,whatever the result of the vote.

The MPLA’s policies, whichoutline the course that the gov-ernment currently follows, arefocussed on attracting as muchforeign investment as possible,

particularly in areas that needto be developed socially as wellas economically. Health andeducation have important rolesto play, but agriculture is seenas crucial to the country’s eco-

nomic development. “The oil,the iron and all the other

resources will run outone day, but we willstill have the chil-dren of the countryto feed,” says Mr.

Matross. In pre-wartimes, Angola was a

major producer of cot-ton and coffee, and it is hopedthat consistent investment willallow the country to recover itshigh levels of production, aswell as facilitating growth invalue-added industries andtechnology.

“EDUCATION and training arefundamental to the developmentof any society”. So states the lit-erature of the Eduardo DosSantos Foundation (FESA), anorganisation which has been in-valuable in helping Angolansthrough the terrible years of war-fare, and which is now assistingthe country in its reconstructionand its citizens in achieving rec-onciliation. Founded by PresidentJosé Eduardo dos Santos in1996, it is the first initiative of itskind in Angola.

A non-profit entity, FESA worksin collaboration with the govern-ment and other institutions toachieve its technical, scientific,cultural, and social objectives,among which universal educationfigures prominently. With a pop-

ulation of around 11million whose averageage 18, Angola looksto its youth to providea better future. And thebest way to optimizethe potential of youthis by teaching and train-ing them to face that fu-ture. “We must give pri-ority to academics,scholastic programsand the improvementof the quality of teach-ing,” says FESA President IsmaelDiogo da Silva.

Part of the strategy is assess-ing what education needs differ-ent areas of the population have.In rural areas, for instance, accessto any kind at all is limited, so thisyear FESA has initiated a work-

shop program that pri-oritises information andcommunication tech-nology. “We provideeducation through dis-tance learning, tele-schools, virtual teach-ers, and Internet,” saysDr. da Silva.

Dr. da Silva believesthat not all Angolansneed to obtain a uni-versity education. “Forus, technicians and

technical jobs are vital for the re-construction of the country,” hepoints out. Nevertheless, FESAhas helped more than 300 stu-dents graduate and is also be-hind the creation of the NewUniversity of Angola. This institu-tion “comes with a new mental-

ISAIAS SAMAKUVA,President of the country’smain opposition party, theNational Union for theTotal Independence ofAngola (UNITA), would liketo see all citizens bene-fiting from basic healthcare and employment.“We need a healthy econ-omy and social policiesthat can provide educa-tion, shelter, health careand all the basic needsof the population,” hesays. UNITA firmly be-lieves in the importance ofdialogue as a means ofmaintaining the country’spolitical stability and solv-ing the problems of thenation.

After more than twen-ty years of warfare, UNITAis reorganising as a polit-ical party and is modern-izing its organisation tokeep pace with thechanging situation.Communications are akey point; the party hasits own website, bi-week-ly newspaper and is work-ing to install a radio sta-tion. The integration andsocial insertion of formerUNITA combatants is alsoof vital importance to thecountry’s recoveryprocess. As stipulated bythe peace agreement be-tween it and theruling MPLA, anumber of for-mer UNITAc o m b a t a n t shave been in-corporated intothe AngolanArmed Forces(FAA) and theNational Police.

UNITA de-fines itself as aparty seekingthe union of all Angolans,but it also places a strongemphasis on self-suffi-ciency. “We need an in-dependence that will pro-vide us with our ownmeans of survival,” saysMr. Samakuva. Most ofall, the party is firmly com-mitted to democracy. “Iwould like UNITA to be achampion of democracyin Angola, taking thewhole society into a trulydemocratic system,” headds. Mr. Samakuva be-lieves that democracy canonly be consol idatedthrough universally rec-ognized principles of thepolitical system, and one

of these principlesis the holding of de-mocratic elections.A fully establisheddemocratic at-mosphere will helpto attract the ‘rightkind’ of investors;companies whocan contribute toAngola’s steadyand on-going de-velopment.

The process ofconstitutional normalizationtook place in 2002, and thepresent government hasscheduled electionsfor September2006. Part of thereason for set-ting this date isthe need to cre-ate the appro-priate conditionsfor elections to bepossible. “There are so-cial and moral conditions,such as freedom of speech,but there are also practicalconstiderations to take careof. We don’t know howmany voters there are, forexample,” says the UNITAleader. Apart from an up-

to-date census of eligiblevoters, there is a pressingneed to train officials for theprocess, as well as orga-nizing where the voting as-semblies will be located.

UNITA also places greatimportance on Angola’s re-gional position, particular-ly its role in the SouthAfrican DevelopmentCommunity (SADC). Withthe ending of war in Angola,the whole of southernAfrica – consisting of 12countries – will be at peace.With all 12 nations enjoy-

ing free-marketeconomies and ei-

ther full democ-racies or in theprocess of be-coming democ-ratic, the poten-

tial for Angola isgreat. The country’s

1,000 mile-long coast-line and its four major portsmake it a natural trans-shipment point for the en-tire region, while its hydro-electric capacity couldallow it to replace SouthAfrica as the region’s mainenergy supplier.

ISAIASSAMAKUVAPresident ofUNITA

ISMAEL DIOGODA SILVAPresident ofFESA

FESA is investing in education, believing that the youth will provide Angola with a better future

UNITA emphasizes the need for dialog and continuous efforts todemocratize in order to ensure that Angola’s stability is main-tained, and that the country continues to enjoy steady economicdevelopment

Effectivedemocratiza-

tion measures arerequired to ensure

social stabilityand security

Seekingto concrete

the union of allAngolans, UNITA is

prioritizing social policies

ANGOLA

PATRIA LIBERDADE

UNIDADE

Seventh Year

UNITA Central Committee

1968



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Secil MaritimaEdificio Secil, Avenida 4 de Fevereiro 42 – 1ºA

Luanda, Angola, Caixa Postal 5910Tel: (244 2) 311 334, Fax: (244 2) 311 784

[email protected]

A flagship company, Secil Maritima is navigating toward a world of opportunity.

The company works as a maritime and travel agency and transports both

passengers and goods, in addition to being active in real estate

and repair and maintenance.

DISCOVER ANGOLA’S

TRAVELING PRIDE

THE ESTABLISHMENT of fully-functioning democracies incountries that are emergingfrom conflicts and seeking sus-tainable peace and nationalreconciliation depends on in-ternational cooperation. Angolais such a country. However, in-ternational opinion also be-lieves that possession of vastnatural resources makes it arich country that can survive onits own.

Increased transparency ingovernment and business ac-tivities is helping to prove thatAngola’s problems stem morefrom a lack of infrastructuresand systems from which to ad-ministrate and utilise its re-sources, than from any cor-rupt use of donor money. Inorder to rebuild, Angola needsoutside help. “Our wealthneeds to be exploited in an ap-propriate way. Only then canwe say that Angola is rich,”says Kundi Paihama, theMinister of Defense.

Funding is always sought.The U.S. is a major source andthe Belgian authorities haveagreed to host an internation-al donors conference for Angolanext year. But investment andtrade are just as fundamental.U.S. big-name players in

Angola include ChevronTexacoand ExxonMobil in the oil sec-tor and Coca-Cola in the foodindustry. Deputy Prime MinisterAguinaldo Jaime would like tosee more such investmentacross the board, and U.S.know-how and technology arehighly valued. “Americans haveexpertise in all sectors; it is upto them to do profitable busi-

ness in a market like Angola,”says Mr. Jaime.

Angola is the U.S.’s third-largest market in Africa, afterSouth Africa and Nigeria, andaccounts for 16.7% of all U.S.imports from Africa. TheU.S.–Angola Chamber ofCommerce believes thatAngola has the potential to beone of Africa’s most prosper-

ous countries and so it aims toplace the private sector at theforefront of Angola’s develop-ment. For a start, it will increasethe regularity of trade and busi-ness meetings among in-vestors of both countries tohelp strengthen business con-tacts.

EDUCATION, health, culture, and sports are priority areas for FESAin its efforts to assist Angolan development

HEALTHY U.S. TIES are a particular source of promise for the Angolan economy

ity”, allowing, for example, grad-uates to become engineeringtechnicians in three years ratherthan engineers in five.

Education, however, is notFESA’s only remit. The organi-zation plays an important role inthe health sector. “In three yearswe created a medicine distribu-tion program with eight mil-lion recipients of es-sential medical kits,”says Dr. da Silva. Hestresses the impor-tance of gatheringstatistical data on theprevalence of diseasessuch as malaria in orderto create a strategy of pre-vention and treatment based onthis research.

“FESA wants to become moreand more independent admin-istratively and financially,” saysthe body’s President, noting thatFESA functions like a large pri-vate company. The enterpriseis already establishing an inter-national presence through theopening of offices in Madrid andRio de Janeiro. Furthermore, fu-

ture plans include the possibil-ity of opening an office in NewYork.

Promotion activities for the or-ganisation include ‘mini-fairs’ heldaround the country, providinglectures and demonstrations inmodern technology. Activitiesalso take place outside the coun-

try. The organisation is con-sidering taking its cul-

tural festival to NewYork and LosAngeles next year.

Sports and cul-tural development

are also given theirdue – FESA even has

its own football team,Santos. After all, Angolan namesare beginning to reach interna-tional audiences in the area ofsport. Paralympic athlete JoseSayovo brought home threegold medals from the AthensParalympics while national bas-ketball player Victor Muzadi maybe selected to play in the NBA.It is time for perceptions tochange. “Angola is a new coun-try today,” says Dr. da Silva.

FESAplays a key

role through pro-moting educationin Angola’s recon-

struction

Global linksStrong international political and commercial relations aid Angola

Continued on page 4

INTERNATIONAL LINKS ARE INCREASING AND IMPROVING AS DEMOCRATIZATION PROGRESSES



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The African Growthand Opportunity Act(AGOA) gives Africancountries preferential tradelinks to the U.S. in orderto help them build up theireconomies. During his visitto the U.S. in May thisyear, when he met withPresident Bush, Presidentdos Santos emphasisedthat Angola is looking fordirect investments andpartnership proposals within thisprogram. Formal relations be-tween the U.S. and Angolangovernments have been estab-lished since 1993. Recently, U.S.Ambassador to Angola CynthiaGrissow Efird publicly com-mented on the good partner-ship currently existing betweenthe two countries.

Following the meeting be-tween the two countries’ re-spective presidents, there hasbeen renewed enthusiasm forstrengthening bilateral cooper-

ation. Angola has also becomea key ally for the U.S. in the waragainst terror. Its strong, well-ed-ucated military make it the U.S.’sideal partner in Africa. “Thearmed forces want to contributetheir best, using what theylearned during these years ofwar,” says General Paihama.“We are aware of our nationaland international responsibili-ties,” he adds. President Bushhas acknowledged the degreeof preparation and developmentof the Angolan Armed Forces

(FAA) and has stated that theU.S. is available to help in train-ing actions for peace-keepingmissions in Africa.

The Center for StrategicStudies of Angola (CEEA) is en-gaged in compiling reports andcreating development pro-grams to optimize Angola’s po-sition nationally, regionally, with-in the African continent, andglobally. One such program isa strategy to enable moderndevelopment by 2025; anoth-er is to assess Angola’s rolewithin the SADC and the ac-companying advantages anddisadvantages. The organisa-tion also performs risk analy-sis of investment areas andacts as a connection point forinvestors and Angolan com-panies. Ultimately, the aim isto maximise use of investmentsand build up the business sec-tor. “The country can only de-velop if it has a strong busi-ness community,” says GeneralIta, President of CEEA’sExecutive Council.

A mutually-beneficial investment employing a significant number of AngolansOF ALL U.S.-BORN interna-tionally renowned companies,Coca-Cola is probably themost well-known. GeneralManager of Coca-ColaBottling in Luanda, PedroLotra was fast in iden-tifying the potentialof this brand name,and his companyhas become anoutstanding ex-ample of Angola’scapacity to take upchallenges and joinforces both with large multi-nationals and with the gov-ernment to improve local stan-dards of living.

Coca-Cola Bottling in

Luanda set up operations in1999 and opened its first bot-tling factory in the Bom Jesusarea of the country’s Bengoprovince in March 2000. The

plant, which representeda multi-million dollar

investment, is ajoint venture be-tween the com-pany and theAngolan govern-

ment.At the moment,

around 55% of thecompany is owned by foreignshareholders and 45% is inhands of Angolans, which il-lustrates the nature of thispartnership. Mr. Lotra com-

Thisprogressive

enterprise showsthe rest of the

world Angola is agood place to

be

MULTINATIONAL partnerships combined with engagement withlocal businesses is the recipe for Angolan business success

Continued from page 3

KUNDI PAIHAMAMinister of Defence

MARIO PLACIDOCIRILIO DE SA “ITA”President of theCEEA’s ExecutiveCouncil

FOREIGN INVESTORS find the opportunities offered by Angola’s plentiful oil reserves especially enticing

BRAZILIAN companies have con-tributed to social developmentas well as businessprosperity

‘Exemplary relationship’facilitates bilateral tradeANGOLA’S independence in1975 was first recognized byBrazil, a country with whichAngola has strong historicaland cultural ties. These con-nections have grown steadi-ly over the last three decadesand now the two nations enjoywhat Brazilian Ambassadorto Angola Jorge D’EscragnolleTaunay terms an ‘exemplaryrelationship’. “Brazil has al-ways put a lot oftrust in Angola,”says Mr.d ’ E s c r a g n o l l eTaunay. Brazil, infact, has neverdoubted Angola’senormous potential.“I am convincedAngola will be one ofthe richest and mostprosperous coun-tries in the southernhemisphere,” addsthe Ambassador.

B r a z i l i a nPresident Lula da Silva hasdeclared Angola a priority na-tion in terms of internationalrelations, and has stated thathis country will make everyeffort to contribute to Angola’sreconstruction and growth.The Association of BrazilianBusinesspeople andExecutives in Angola (AE-BRAN) was recently createdto help facilitate bilateral trade

encounters.There are massive oppor-

tunities for South-South trade;for a start, Brazil and Angolarespectively belong to theMercosul and SADC tradeblocks. “Brazil can be an ex-port channel for all the prod-ucts of the Free Trade Area ofthe Americas (FTAA) to Angola,facilitating the process withtheir already established trade

relationship,” saysCarmo Filho,A E B R A N ’ sPresident.

Brazilian compa-nies such asOdebrecht andPetrobras have beenpresent in the coun-try for many years,not only bringing theirexpertise and theirbusiness but con-tributing in a signifi-cant way to Angola’ssocial development.

Petrobras, Brazil’s state oil com-pany, first arrived in 1979. “Wehad the wonderful experienceof training Angolan special-ists, now spread throughseveral companies includingSonangol and the Ministry ofPetroleum,” says RenatoPimenta de Azevedo, theGeneral Director of PetrobrasAngola. Petrobras is now fo-cussed on finding more

long-term prospects in thecountry. “The decision to in-vest and stay in Angola has al-ready been taken,” says Mr. deAzevedo.

Odebrecht, which operatesin various areas such as dia-monds, oil, and agricultural tech-nology, also acts with local in-terests in mind. “We participatein undertakings that generateimpact on the productive infra-structure of the country: gen-erating electricity, water supplysystems, irrigation canals, andthe like,” says Luiz AntônioMameri, President of OdebrechtAngola. The company alsoworks to train local people andis heavily involved in HIV-AIDSawareness programs.

Brazil and its companies donot see themselves as provid-ing an example to the rest of theworld; they are merely doinggood business in Angola.Everyone else is also welcome.“Angola wants to be on famil-iar terms with the world,” says

President of FESAIsmael Diogo daSilva .

RENATOPIMENTA DEAZEVEDOGeneral Director of PetrobrasAngola

ments, “It is our intention toattract more foreign invest-ment. It will benefit us and itwill benefit consumers.”

Furthermore, Mr. Lotra be-lieves that his company actsas a catalyst to increase in-vestment in the country. Hesays, “We are transmitters ofgood news in Angola for theoutside world.”

At a local level, Angolan’shave benefitted greatly fromCoca-Cola Bottling inLuanda’s progressive enter-prises. While directly provid-ing employment, the compa-ny also actively seeks toengage with local business-es and to activate other sec-

tors of the economy.Mr. Lotra says, “We are al-

ready negotiating to bring canmanufacturing to the country,and we are also involved inpackaging. We are pushing fora lot of secondary industries re-lated to our business.”

The prospect of genuineand permanent peace, thegovernment’s policy of im-proving investment laws andproviding additional incen-tives, and the knowledge thatAngola stands at the forefrontof the vast market that issouthern Africa mean com-panies from the U.S. and else-where are seeking out busi-ness opportunities here.

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SPECIAL ADVERTISING SUPPLEMENT

5

smilesBringing more

The Eduardo dos Santos Foundation (FESA) plays a

vital role in the social development of Angola. Emerging

from a spirit of solidarity with those people who have

less, the foundation works to improve the nation’s

education, health, technology and scientific

development, culture, and sports. Strengthening the

fundamentals of the country and its people, FESA’s

achievements to date include the construction of 65

schools, the establishment of training programs for

teachers, and the creation of an exchange student

program with Brazil. FESA welcomes collaborations

with members of the international community to further

improve the pillars of Angola’s development.

www.fesa.og.ao

to Angola

BNA is playing a crucial role in Angola’s modernized financial sector characterized by responsibile, reliable,and transparent institutions working to take the country forward

CONSIDERABLE PROGRESShas been made in Angola’s fi-nancial sector since 1991 whenthere were only two banks, oneof which was the National Bankof Angola (BNA). At the timealso a commercial bank, theBNA now acts solely as thecentral bank and the numberof private and public bankinginstitutions has grown. One ofthe most recent arrivals on thebanking scene is NovoBanco,a U.S. government and privatesector joint enterprise whichhas so far disbursed a total of$500,000 in credit to the smalland micro-enterprise sector inLuanda.

The current national econo-my also shows evidence ofgreat improvements. The infla-tion rate in 2003 reached twodigit levels, down from three orfour digits in earlier periods.While the 20% target level forthe end of the year is unlikelyto be reached due to the im-

pact of price fluctuations, a grad-ual descent is being sustained.

Angola’s national currency,the kwanza, has been stabilizedand its value restored. “In thepast, almost 85% of our de-posits were held in foreign cur-rency, but now that is changing,”says Deputy PrimeMinister Jaime. Thishas been achievedby a concerted gov-ernment campaigncomprising severalstrands. “We creat-ed alternative savingsaccounts for citizens andinstitutions. We made the cre-ation of assets, specificallybonds, more attractive if theywere not in dollars,” saysAmadeu Jesus CastelhanoMauricio, the Central BankGovernor.

Legislation also forms a partof financial sector reform. “Withthe new law, a new institutionalframework will be created that

will allow not only the develop-ment of the financial communi-ty but the interconnection of fi-nancial operations for the supplyof bonds and the emergence ofa set of financial products put outby other private entities,” he says.

Following an audience withAngolan President dos Santosin November this year,International Monetary Fund(IMF) Assistant Director GeneralTakatoshi Kato announced thatthe institution will be strength-

ening cooperation with theAngolan authorities.

Angola is taken seri-ously and perceivedas an importantcountry, partly inrecognition of posi-

tive results in macro-economic management.

Levels of transparency andgood governance are beingworked on with satisfactory re-sults. The Government’s fiscalposition of 2003, for instance,has been clarified and its ac-counts have tallied with the IMFassessment. “Our resources aremanaged in a transparent man-ner,” states the Deputy PrimeMinister.

EconomySteady economicimprovement sets contextfor financial modernizationMACRO ECONOMIC MANAGEMENT HAS PROVIDEDPOSITIVE RESULTS. COMPLEMENTED BY CHANGES INTHE FINANCIAL SECTOR, THIS OFFERS REAL PROSPECTS FOR GROWTH AND A BETTER STANDARD OF LIVING

Levelsof fiscal

transparencyhave improved

significantlyrecently



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The BNA bears the promise of afresh perspective for investorsINAUGURATED in 1975 with the country’sindependence, the National Bank of Angola(BNA) is a fundamental actor in the drive torevitalize the national economy.

In order to provide an environment withoptimal conditions for business enterprises,the bank is working on creating a viablemacroeconomic framework on the basis ofincreased transparency and stability. TheBNA’s action plan includes the harnessingof inflation and the provision of a stable ex-change rate, which are considered vital fac-tors for nurturing foreign partnerships.One of the bank’s main challenges is tocounteract the excessive monetary liq-uidity brought about by the prevalence ofthe dollar in the country as opposed to thelocal kwanza. As a part of the strategy torebuild the country while at the same timekeeping economic figures in line with inter-national standards, the BNA is forging anew credit culture in Angola, encouraging

labor intensive activities and promoting bank-ing services.

This in turn is expected to lead to thereaptriation of capital and the creation of asavings culture. Thus, under the auspicesof the BNA, the kwanza is being strength-ened and the banking sector is on the pathto diversification.

Opportunities abound in the fresh finan-cial environment that the BNA is striving toestablish. Efforts are already bearing fruitsregarding the boost of trade links with the U.S.,as leading companies flock to take a part inAngola’s staging of peace bonanza.

Although there still remain many chal-lenges ahead, the BNA has already ac-complished the most important aim, name-ly being at the helm of an economic scenethat transmits confidence to internationalinvestors. With a long standing compomiseto sustainable growth, the BNA is Angola’smost trustworthy economic compass.

Banks creating favorableenvironment for business

Attractive investment scene aids diversification

ANGOLA’Seconomic priority is toprovide a favourable environmentfor foreign investment. “The basicpremises are: to have economicstability with controlled levels ofinflation and a stable currency; tohave an effective financial system;and to have an efficient paymentsystem,” says Amadeu de JesusCastelhano Mauricio, the Governorof the (National Bank of Angola)BNA. Due to strong efforts fromthe economic management team,public finances are improving andinflation is on the decline. NowAngola is modernizing, expand-ing and revamping its bankingsector. New legislationwill regulate the activi-ties of the financial com-munity and a new in-stitutional framework isbeing created to fosterits continued develop-ment.

The AfricanInvestment Bank (BAI),the first privately-ownedbank to operate inAngola, is also thelargest bank in thecountry. “According tothe preliminary figures for 2004from the BNA, we have a 27%share in deposits and a 20% sharein loans,” says Mário Palhares,President of the AdministrativeCouncil. The Bank has 22 branch-es which already give it one of thebest banking networks in the coun-try, and it hopes to extend theseto 27 by May 2005. Internationally,BAI opened a subsidiary in Lisbonand is planning to open branch-es in Cape Verde, Sao Tome andPrincipe, Brazil, and South Africa.

With its leadership in the bank-ing market solidly established, BAIis looking to re-launch in the in-vestment market, with particularfocus on the oil and mining sec-

tors. “We want to start providingspecialized services to the higherend of the market,” says Mr.Palhares. “We are consolidatingour position by adopting more ef-fective operating mechanisms andcreating a culture of excellence inthe provision of customer ser-vices”. To this end, the bank istraining staff to the highest tech-nical standards.

However, in addition to provid-ing a modern and efficient bank-ing infrastructure for investors, pri-vate banks want to take theirservices to ordinary citizens. BAI’scommitment to new technology

has led it to introducemany useful systemssuch as ATMs, cash-ing points, and creditand debit cards. Theseencourage people todeposit their savings inbanks, which in turn al-lows the banks to buildup their resources andoffer more loans.

Micro-credits also arean excellent way of en-couraging growth. BAIremains committed to

encouraging small and medium-sized business to flourish in Angola.

Banks such as the Bank ofCommerce and Industry (BCI) arealso engaged in supporting smalland medium enterprises. Thougha state bank, BCI operates just asany other bank in the private sec-tor would, and is continuing to di-rect its activities towards creditbanking. As with many business-es in Angola, both BAI and BCIare involved in non-banking ac-tivities to aid development. Theformer supports education andsports; the latter has interests incommunications and agriculture.

International monetary associ-ations are also involved in helping

Angola rebuild by providing cred-it for small-scale entrepreneurial ac-tivity. The International FinanceCorporation (IFC), a specialist inmicro-finance, recently invested$700,000 in the Enterprise Bankof Angola (EBA), which will pro-vide country-wide financial ser-vices that are specifically tailoredto the needs of client groups atthe lower end of the market. Theinvestment is expected to have astrong developmental impact byhelping create new jobs, acceler-ating business growth, and boost-ing banking confidence.

There is plenty of scope forgrowth. “In order to deal with thechallenges of reconstruction, thebanking sector needs to growfaster and faster over the nextthree to five years,” says Mr.Palhares. “The market is far frombeing saturated.”

IT IS EVIDENT to any observ-er that oil is Angola’s maineconomic driving force.Revenues from this sector hadalready reached an estimated$250 million in the first half ofthis year. Thanks in great partto oil receipts, the governmentprojects 12% growth in GDPthis year. But many other sec-tors offer great investment po-tential as well as being key tofacilitating development andeconomic growth. Chiefamong these are agri-busi-ness, engineering, finance,and mining. In order to attractand retain foreign investment,the government has madesubstantial changes to the in-vestment laws, minimizing bu-reaucratic restrictions and im-plementing measures to

provide investment protectionguarantees and ensure thetransfer of dividends abroad.

There is now a single enti-ty in the form of the NationalPrivate Investment Agency(ANIP) which deals withthe inquiries of foreigninvestors, as well asworking to identifypotential investorsand compatible for-eign markets. AriCarvalho, ANIP’sManager, has put hisyears of study and work ex-perience in the U.S. to gooduse and is clear on what strat-egy to pursue. “First of all weneed to identify those coun-tries or companies that havealready invested in countrieswith similar characteristics to

Angola,” he says. “Then try tobe present there through pub-lications or direct contacts”.

The most desirable in-vestors are the larger firmswith consistent track records

of foreign investment,and companies who

are willing to includeAngolan compa-nies and nationalsin their businessaffairs. Big compa-

nies tend to have ex-perience of develop-

ing not only the localresource in a foreign country,but also the surrounding in-frastructure, something whichAngola desperately needs.

Another economic strate-gy that will help to give theprivate sector a boost is fis-

cal reform. Low taxation willallow companies to capitalizeand re-invest their profits inupdating technology and cre-ating new partnerships, thuscontributing to an ever-in-creasing cycle of productivityand efficiency. This has beenone of the recommendationsof the Angolan IndustrialAssociation (AIA), which alsoworks to attract foreign in-vestment through trade fairssuch as FILDA and the or-ganisation of trade missions.“Our strategic vision for thedevelopment of Angola is self-sufficiency wherever possible,and foreign capital from for-eign companies engaging inpartnerships with Angolanfirms,” says AIA PresidentJose Severino.

MÁRIOPALHARESChairman of theAfricanInvestment Bank

Banking sector - Credit

Partnershipbuilding with

foreign investorsoffers path todevelopment

REVENUES from the oil secor have anchored growth prospects

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Cabinda Star province’s highly diverseeconomy ensures a bright future

Exclusive interviewwith the Governor ofCabindaSummit Communications:What are the priorities of yourgovernment in Cabinda?

Governor José AnibalLopes Rocha: We have beencreating the conditions for thesustainable and harmoniousdevelopment of the provinceand working to find solutionsto the basic problems of thepopulation, such as publichealth concerns, basic sani-tation, electricity, and accessto drinking water. We have feltvery welcome here in Cabindaand government programs arebeing carried out with the di-rect participation of the pop-ulation. The collaboration be-tween the state and the peoplereally has been extraordinaryand we are already seeing sig-nificant results. For example,drinking water supply hasbeen increased from a 120m3

capacity to 630m3. We havecreated 250 miles of sec-ondary roads and we have in-troduced a new, more sanitaryresidual water system intowns.

Summit Communications:What measures have beentaken to create employmentin the region, particularly in theagricultural sector?

Governor José AnibalLopes Rocha: Again, thepopulation has been very mo-tivated to increase productionand this has been a great sup-port for us. At the beginningof the year, apart from settingproduction targets for the agri-cultural sector, we distributeseeds and provide mechani-cal help for preparing the fields.For example, this year we dis-tributed ten tractors.

GOVERNOR of Cabinda, José Anibal Lopes Rocha

ANGOLA’S northern enclaveprovince of Cabinda, wedged be-tween the Democratic Republic ofCongo and Congo Brazzaville ishome to 300,000 people and BlockZero, Chevron Texaco’s black goldconcession that currently producesmore than half of Angola’s one mil-lion barrels per day of crude pe-

troleum. Covering a territory of2,811 square miles, or just overhalf the size of Connecticut,Cabinda lies on the west coast ofAfrica and is separated from the restof Angola by a narrow strip of theDemocratic Republic of Congorunning along the north bank ofthe Congo River. The province hasmore than 50 miles of coastlineand is spectacularly beautiful, withrich natural resources. Due to itstemperate climate (temperatureshover between 75ºF and 85ºF yearround), and abundant rainfall, muchof the interior of the province incovered in thick, lush rainforest,and the majority of the populationdepend on Cabinda’s plentiful agri-culture and fishing resources fortheir survival. A number of prod-ucts are also produced for exportsuch as timber, coffee, cocoa, rub-ber and palm oil.

The vast majority of the wealthproduced in Cabinda, however,comes from petroleum.

Just off this tiny enclave’s coastlie some of the richest oil fields inthe world. Chevron Texaco’s

Cabinda Gulf Oil Company, alongwith partners Sonangol, AGIP, andElf, operate Angola’s most lucra-tive concession – Block Zero.Cabinda also boasts Angola’s firstproducing deepwater concession,Block 14, which is also operatedby Chevron Texaco and is ex-pected to be pumping180,000 barrels per dayby 2006. The UnitedStates is a direct ben-eficiary of these fields,and currently importsmore than half ofAngola’s total produc-tion. The emergence ofa sister city relationship be-tween Cabinda and Lafayette,Louisiana, is a reflection of thegrowth of ties between the provinceand the U.S.

Long before petroleum was dis-covered in Cabinda, it was knownto European traders throughoutthe 19th century as ‘Porto Rico’for its wealth of natural resources.Cabinda was green and fertile, andrich in gold, diamonds, uraniumand phosphates. Today, the

province still boasts one of thelargest primal rainforests in Africa,the Maiombe, which locals refer toas the ‘vegetable sea’ for its im-penetrable canopy of luxuriant veg-etation. Governor of CabindaProvince, José Anibal LopesRocha, has formed a team of ex-

perts who are determined tobring about the develop-

ment of the province’sresources and has es-tablished a compre-hensive six-year planfor the region to boost

infrastructure, improveservices for the popula-

tion, and stimulate the growthof a diversified economy.

He comments, “As everybodyknows, Cabinda is famous for itsoil. But Cabinda is not only petro-leum, it has other very importantresources that offer potential, suchas exotic woods from the Maiombeand gold, copper, phosphate andaluminium. In addition, there arealso favorable conditions for agri-culture and cattle breeding, andCabinda also has great tourismpotential.”

Governor Rocha says investorsin Cabinda will also find plentifulhuman resources and a skilledworkforce. Additionally, the provinceis ready to begin developing its nat-ural resources, and the Council ofMinisters in Luanda has approvednew gold and phosphate explo-ration. Not surprisingly, investmentlevels are on the rise. According toGovernor Rocha, new projects in-clude a hydraulic pump factory builtby US investors, a brewery, and acontract to provide the timber forcoaches on the Benguela Railway.He adds, “For investors, the op-portunities in Cabinda are excel-lent. Our potential is huge and var-ied, and there is an impressive rangeof investment opportunities. Withthe new investment laws that wererecently approved in the country tofacilitate negotiations, our doors areopen to new business.”

PART AND parcel of the govern-ment’s plans for the developmentof Cabinda is a priority focus on im-proving education facilities in theprovince. Much progress has beenachieved in the last two years;school attendance has risen from50,000 in 2002 to over 80,000today, and Governor Lopes’ ad-ministration has implemented pro-grams for providing school lunch-es, as well as books and folders.In August of this year, school kitswere distributed that included back-

packs, notebooks, pens and pen-cils, and a number of classroomsacross the province had been up-graded for the new school year. Interms of higher education, two newprofessional training centers areready for inauguration, and state au-thorities are studying the possibili-ty of opening an engineering fac-ulty at the provincial university.

Teacher training is another areaof emphasis for the government, ac-cording to Provincial Director ofEducation, Culture, Science and

Technology, João Chissina Mabiala,who says that his department isworking in conjunction with nationaleducation programs, as well as anumber of international NGOs, toprovide increased access to train-ing for teachers. Mr. Chissina, whoworked as a teacher and principalthroughout most of his career,states, “Our most urgent priority isto improve both the quality of teach-ing in the province and the qualityof the learning process. We havebeen allotted 20% of the budget for

the provincial development pro-gram, which stretches over sixyears, and we expect to reach mostour targets by 2010.”

Simultaneously, Mr. Chissina isworking to revitalize cultural identi-ty in Cabinda, which he says hasbeen battered by a history of colo-nialism, the province’s unique ge-ographical position, and social in-stability during the war. Cabindawas originally settled by Bantu tribesin the 15th century – only a fewhundred years before the

Portuguese arrived. Today theprovince boasts numerous his-torical sites and monuments thatare in need of restoration. Mr.Chissina elaborates, “Our goal isto reinforce our cultural heritage,which has been put aside for somany years. Additionally, Cabindahas many musicians and artiststhat are known not only on a na-tional level, but also on an inter-national level, and we want to con-tinue supporting these types ofcultural activities.”

RESOURCE-RICH CABINDA IS ANGOLA’S MOST PRECIOUS PROVINCE. PRODUCINGMORE THAN HALF A MILLION BARRELS OF CRUDE PETROLEUM PER DAY AND BOAST-ING FERTILE SEAS, STUNNING COASTLINES, VALUABLE MINERAL DEPOSITS, AND A

THRIVING AGRICULTURAL SECTOR, CABINDA’S ECONOMIC POTENTIAL IS HUGE. WITHINTERNATIONAL PARTNERSHIPS ACTIVELY SOUGHT AND WELCOMED, OPPORTUNI-TIES FOR FOREIGN INVESTORS ARE AS IMPRESSIVE AS THEY ARE DIVERSE

INDUSTRIAL developmentplans will provide a launchpadfor employment opportunities

EDUCATION is a priority area.School attendance has risen bytwo thirds in the last two years

FERTILE lands, rich natural resources, and community pride are at the roots of Cabinda’s great potential

Investorswill find plenti-

ful humanresources and askilled workforce

in Cabinda

Creating a revitalized Cabinda through education and training

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WITHOUT any doubt, oil isCabinda’s main claim to fame andby far its principal source of wealth.From this small province comes60% of Angola’s total petroleumproduction, of which the UnitedStates is the largest importer (im-porting 350,000 bbl/d of Angolancrude in 2003), more than half ofthe Angolan government’s totalrevenues and almost all of the coun-try’s foreign exchange earnings.The majority of Cabinda’s oil pro-duction is located in the shallow wa-ters of Block Zero, which producesaround 550,000 bbl/d and in whichChevron Texaco holds the major-ity share, followed by the State Oil

Company, Sonangol, Italian firmAgip and French TotalFinaElf. TheCabinda Gulf Oil Company (CAB-GOC), Chevron Texaco’s subsidiaryin Cabinda, was granted this yearan extension on its Block Zero con-cession for another twenty yearsto 2030, and the company hasplans to invest nearly $4 billion innew field development activity there.CABGOC is also the majority op-erator of Angola’s first producingdeep-water block, the Kuita field,also located offshore Cabinda. Kuitaalso boasts another record in sub-Saharan Africa – the fastest timecycle for coming online, only 15months after the award of the con-

tract. The province of Cabinda re-

ceives about 10% of the taxes paidby concessionaires operating off-shore the province, and the lastfew years has seen a rise in the in-volvement of these companies inthe provincial government’s de-velopment programs. In addition tocontributions to health care andeducation in Cabinda, ChevronTexaco has launched a ground-breaking project in association withUSAID to promote small and medi-um enterprise development andeducation, with a special focus onagricultural revitalization in theprovince. Governor of Cabinda

José Aníbal Lopes Rocha says thatthe program is exhibiting the initialsigns of success. He comments,“The cooperative and entrepreneurmovement in the province is show-ing positive signs of change, duein large part to the project startedby Chevron Texaco and Sonangol,with the participation of USAID,which provided $25 million to jump-start the private agricultural sector.A number of the project’s initiativesare already in practice.”

In other areas, the upgrading ofCabinda Port is underway, and of-ficials are hoping that the province’sstrategic importance will boost portactivity in the future and mark

Cabinda as a regional logisticspower. In the meantime, port offi-cials are concentrating on aidingprovincial development throughlowering the prices of goods en-tering the province. ProvincialDirector of Cabinda Port OsvaldoLobo do Nascimento says, “Ourmain objective is to reduce the finalcost of goods entering the province,as prices on products in Cabindaare currently very high – some-times twice that of the same goodsin Luanda. We are prioritizing themodernization of the port’s tech-nological, operational, and admin-istration capacities so that we cancarry out operations in less time andoffer goods at more competitiveprices.” Second on the agenda,according to Mr. Lobo, is ensuringthat the port recovers its first classstatus and is once again able toserve regional needs as Cabindais a natural gateway to its neigh-bors. He elaborates, “Cabinda oc-cupies an important position in apolitical, national, and internation-al context. Additionally, it is locat-ed very near the oil port of Malongo,and there are only about ten milesfrom Cabinda airport to theDemocratic Republic of Congo,which is landlocked.”

While undertaking compre-hensive and renewed efforts todevelop Cabinda’s resources,the provincial government is alsomaintaining a firm stance on pro-tecting its natural heritage. Inaddition to its oil wealth, Cabindais home to one of Africa’s largestprimal rainforests and has abun-dant mineral wealth.Government programs havebeen launched to improve san-itation and cleanliness in theprovince’s cities, and Cabindaboasts a successful forest man-agement program. However,José Alberto Adelaide, Directorof the Provincial Department ofthe Environment, states, “Wewant Cabinda to remain a niceplace to live and to visit, and wethink that we could benefit fromincreased environmental man-agement input and advice fromthe developed world.”

ONE OF the keys to the econom-ic diversification program that isbeing carried out by Governor JoséAníbal Lopes Rocha in Cabinda isdevelopment of the province’s hugetourism potential. Apart fromCabinda’s real status as a businesshub for the oil industry, the provincepossesses great natural beauty anda diverse range of tourist attrac-tions, including a large gorilla pop-ulation in the Maiombe Forest, ex-cellent beaches, rich local cultureand extensive colonial architecture.Additionally, Cabinda’s unique andvast primal rain forest and the va-riety of flora and fauna that it hostslend themselves to the develop-ment of a thriving eco-tourism in-dustry.

Cabinda has a long history as acenter for business tourism, ac-cording to Provincial Director ofCabinda Tourism Geraldo Ndubo,who says that the enclave’s uniquegeographical position at the cross-roads of various nations drew bothEuropean and African tradersthroughout the 18th and 19th cen-

turies, who met there to exchangegoods. As a logical extension,Cabinda was one of the first Africanterritories to introduce a specialcustoms regimen to encourage theflow of commerce through its bor-ders. Today Cabinda is at the cen-ter of one of the world’s largest andmost important oil industries, andis set to once again take advantageof its potential as a businesstourism hub by imple-menting special tax andcustoms incentives.Mr. Ndubo states,“The Angolan gov-ernment has just ap-proved a special pro-gram for Cabinda that willdevelop the province as a cen-ter for business tourism. Ultimatelyit will be converted into a Free Zone,but until that is introduced we willimplement a special customs reg-imen. Foreign products will be taxfree and we will offer lower pricesthan the rest of the country.”

Mr. Ndubo says that opportuni-ties for investors abound in the

province. He points out that Cabindacurrently has only two hotels andoccupancy is 100% year round. Inaddition to accommodation, Mr.Ndubo says there are also oppor-tunities in the service industries,such as bars and restaurants. Tofacilitate investment in these areas,the government has prepared anumber of incentives for investors

including land grants and sup-port in getting projects off

the ground. Mr. Ndubostates, “The demandhere is real. We have alarge presence of for-eign companies in-

volved in the oil business,and apart from their em-

ployees, we have to take intoconsideration the number of peo-ple who come here to do businesswith them. These people will wantbars, restaurants, casinos, pubs,discos and so on. For this reason,we need more investors. We alsoneed supermarkets and shoppingcenters – things that will make thelife of our visitors more comfort-

able.” An additional boost to theprovince’s business tourism poten-tial has been Chevron Texaco’s re-cent decision to build in Cabinda thenew headquarters for its subsidiary,the Cabinda Gulf Oil Company.

Cabinda also has vast potentialfor traditional, adventure and eco-tourism. The province’s long andcolorful history has left an indelibleimprint on its architecture, culture,and landscape. The provinceboasts a spiritual sanctuary for pil-grims called the Ysu, exotic faunaand flora that cannot be found else-where in the world, such as theaphrodisiacal Cabinda wood, anda unique gastronomy that mixeshundreds of years of distinct cul-tural influences. Mr. Ndubo says,“Provincial Tourism authorities havevarious projects underway, suchas the development of the areaaround the original port used in theslave trade at Malembo, the de-velopment of a tourist resort onRocho Longo island, and the con-struction of a new four star hotelnear Cabinda airport.”

CABINDA PORT has thepotential to become a keyregional logistics centre

INVESTMENT IN INFRASTRUCTURE is making the efficient extraction of more and more of Cabinda’s natural oil reserves possible

UNIQUE FAUNA AND FLORA and beautiful scenery are just someof the natural qualities Cabinda posesses as a tourist destination

Thedemand for

investment inservice industriesis real and signifi-

cant

Cabinda’s plentiful oil reserves areset to fuel future developmentPETROLEUM PRODUCTION ACCOUNTS FOR MUCH OF CABINDA’S WEALTH AND IS ACTING AS A CATALYST FOR FURTHER GROWTH

A highly impressive tourismpotential to be exploitedTOURISM OF ALL DIFFERENT TYPES HAS AN EXTREMELY PROMISING FUTURE IN CABINDA

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ANGOLA IS sub-SaharanAfrica’s second largest oilproducer behind Nigeria,with the majority of itscrude oil production lo-cated offshore in theshallow waters off thenorthern Cabindaprovince. Crude re-serves are also locatedonshore around the cityof Soyo, offshore in theKwanza Basin north ofLuanda, and offshore ofthe northern coast.Angola’s crude oil gen-erally is of high qualityand the country’s re-serves are estimated at12 billion barrels.

In 1976 national oilcompany Sonangolwas founded to over-see all fuel productionand distribution; in thelate 1970s, in a bid toattract foreign com-panies under produc-tion sharing agree-ments, the Angolancoast, excludingCabinda, was dividedinto 13 explorationblocks. In 1997Sonangol released afurther six deepwaterblocks for tender. By2000, Angola had atotal of 29 offshoreand onshore blocksunder licence to 30c o m p a n i e s .Exploration keeps onapace and as a resultof existing successes,there is increasing in-

terest in Angola’sremaining blocks.

US companies areprominent in the oil sec-tor. At the moment, the in-crease in Angolan pro-duction is being led byExxon, which is expect-ed to invest around $4billion on six new deep-water projects over thenext four years.ChevronTexaco, whichis the biggest operatorin the country andthe first to op-erate in deepwater, is de-veloping theB e g u e l a /Belize fieldon Block 14 inaddition to itsCabinda offshoreoperations. InSeptember this year itinvested around $11million in 12 oil and gasprojects to take placeover a five-year peri-od. By the time Angolareaches projected pro-duction levels of 2 mil-lion barrels per day(bpd), Chevron willaccount for 15%of this with Exxonfollowing atsome 11%.

The non-oil mining sectorcontributes 12% to GDP, withdiamonds accounting for 98%of government earnings fromthe sector. Angola has someof the world’s highest-gradediamond deposits. During thewar, the Angolan diamond in-dustry acquired a notoriousreputation as one of thesources of so-called blood orconflict diamonds, used to fi-nance arms purchases andfuel the war. Many operatorssaw the illegal industry solelyas a quick way to get wealthy.“We didn’t know the destina-tion of these diamonds andthere were about 300,000people working in the field,”says Kundi Paihama, the

Minister of Defense. “Wetook action. Today

any Angolan or for-eigner that comesto Angola whowants to workwith diamonds has

to request an au-thorization from the

Ministry of Geology andMines, which takes time andinvolves bureaucracy and taxpayments,” he says.

The country is still eco-nomically dependent on pe-troleum, but although diversi-fication is seen as a priority,this dependence is not viewednegatively. The main issue isto use all generated profitsadequately. The recent highworld oil prices have earnedthe government $250 million,with which it will set up a spe-cial reserve to contribute to


11


Once, someone gazed at the horizonand saw the future.

Twenty five years ago, Petrobras arrived in Angola – and it’s there to stay!Although deeply involved with the scientific and technological progress of the industrial sector, its activities have always extended well beyond just oil exploration and production. Above all, it is concerned with the economic and social development of the entire nation. For Petrobras, thequality of life and well-being of the Angolan people will always rank first.That is why the company has been encouraging and sponsoring a widevariety of outreach programs since 1979. Building on their shared culturalheritage and common language, Brazil and Angola look forward to a prosperous future together.

www.petrobras.com.br

A N AT I O N F O R A L LGOVERNO FEDERAL

Business Oil and diamonds provideeconomic impetus

THE ANGOLAN GOVERNMENT IS EAGER TO FULLY EXPLOIT THE OPPORTUNITIES PRESENTED BY THE OIL AND DIAMOND DEPOSITS IT HAS BEEN BLESSED WITH WHILE ENCOURAGING DIVERSIFICATION

public expenditure in the 2005budget framework.“Petroleum profits should besimultaneously applied to thereconstruction of infrastruc-tures and especially to humandevelopment,” says theGovernor of the Central Bank,Amadeu de Jesus CastelhanoMauricio. World demand foroil is growing strongly, par-ticularly in China, and Angolanproduction is set to continue.

Before the war, the coun-try was an important pro-ducer of iron ore, gold, andcopper, and the Ministry ofGeology and Mines wouldalso like to see renewed ex-ploration and exploitation inthese areas as a means ofgenerating more income forthe state.

INVESTMENT in the oil anddiamond industries is increasinglybeing complemented by busi-ness activity in new, up-and-coming sectors that offer busi-nesses a bright future

Plentiful,high quality oil

reserves providethe funds fordiversification

plans

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Oil is fueling internationalbusiness interaction OIL IS BIG business in Angola. Not only that, itis multinational business – players in the petro-leum industry from all over the world are oper-ating in Angola’s offshore oil fields. The task ofcoordinating and managing all exploration for oiland gas falls to the state oil company Sonangol.With production estimated to reach two millionbarrels per day in the not-too-distant future, moreexploration blocks are being opened and con-cessions on existing blocks, such as Block Zerooff northern Cabinda province, are being ex-tended.

While Sonangol has stakes in most explo-ration-related activities, it also leads the way insocial and community awareness, utilising its re-sources to improve standards of living for Angolansand pave the way for more consistent develop-ment. As the largest contributor to thestate budget, Sonangol is involved in agreat number of social projects acrossthe country, covering health, educa-tion, culture, sports and agriculture.The company also funds housingprojects for its staff.

In fact, most oil companies work-ing in Angola seem to possess a strongfeeling of solidarity for the country and its cit-izens, and as well as engaging in unrelated ac-tivities that directly benefit Angolans, they pro-vide for the country’s long-term welfare by traininglocal people and spreading their technologicalknowledge.

Petrobras, one of the world’s top 15 oil com-panies and one of the first to operate in Angola,has recently signed a protocol of intent withSonangol for business development and coop-eration, in the expectation of renewed growth ofits corporate activities in the country. Althoughproduction in its existing interests have been ei-ther tailing off or proving less fruitful than hoped,Petrobras still has very high expectations of theremaining deposits. “In Angola our portfolio is still

not up to par with our aspirations,” says GeneralDirector of Petrobras Angola Renato de Azevedo.“We still have a lot of room to grow”. The com-pany’s confidence is based on its expertise indeepwater exploration, particularly in the analy-sis of seismic data. It has shown interest in ac-quiring concessions in areas which other firmshave left after their licences have expired.

As part of the protocol agreements the com-pany will train groups of Angolan personnel forthe oil industry and other related industrial sec-tors, backed by Brazilian specialized institutionsand the Petrobras Corporate University. It will alsoexchange know-how in technical research pro-jects, commercial practices, electronic procure-ment, environmental protection, and occupa-tional safety. “Petrobras can be the catalyst for

applying Brazilian technology in Angola,” saysMr. de Azevedo.

The downstream oil industry is an-other area where there is room forgrowth. With the rise in domestic fuelconsumption, particularly gasolineand diesel which has doubled in the

last two years, there is increasing needfor improved refining capacity and distri-

bution systems. “The only refinery that existscan no longer meet the needs of the country,”says Mr. de Azevedo. Petrobras aims to be in-volved in the country’s proposed new refinery inLobito. Diesel and gasoline produced at the re-finery will meet technical and environmental spec-ifications required in targeted markets such asthe U.S., Western Europe and South Africa.

Sonangol also wants to build two new lo-gistics facilities and a new lubricants plant, andfilling stations and storage facilities are stillneeded. While the Angolan government is keento promote investment in other economic sec-tors, the potential in the oil industry remains vastand looks set to continue that way for sometime to come.

ANGOLA’S other internation-ally-recognized source ofwealth is its diamond indus-try. The country’s diamond re-serves are estimated at 180million carats, principally inthe provinces of Lunda Norteand Lunda Sul in the centraland north eastern parts of thecountry. To date, approxi-mately 700 kimberlites havebeen located in the country,most of which are situatedalong a north east – southwest area that extends in tothe neighbouring Democratic

Companiesfrom all over theworld are already

operating inAngolan oil

fields

PETROBRAS has an expertise in deepwater exploration and is optimistic about the opportunitesfor growth available in Angola’s oil fields

RESERVES of 180 million carats make Angola a highly important player on the international diamondscene with good investment prospects for international corporations and small companies alike

The nation’s key diamond producer isleading Angola to a brighter futureENDIAMA,as the country’s major player in thediamond industry, sees Angola’s progress asa cause that runs parallel to its commercial ob-jectives, which are the prospecting, research,extraction, cutting, and marketing of diamonds.

On the business side, Endiama aims tostep up diamond production significantly in2005, which will bring in greater revenues tothe state that can be used for the country’sreconstruction strategies. All aspects of thecompany’s activities are included in this push:Endiama means to take a more active part inthe re-launching of mining exploration activi-ties; train specialized technical staff; negotiateagreements with international entities; and di-versify from mining operations through agree-ments with companies possessing know-howand capital. The company is already involvedin other sectors including transport, real es-tate and construction, insurance, and bank-ing. As a natural subsequent step, Endiamawould like to set up a holding company.

Despite the extent of these business ob-jectives, Endiama remains deeply committedto its social programs. The company excelsin the health sector, where it has already pro-vided a number of hospitals, clinics and treat-ment posts across the country, without limit-ing itself to the areas in which it maintains

exploration activities. It has sponsored a healthservice in remote Lunda province since 1917,when the Dundo Hospital was built by Diamang(as the company used to be called). TheSagrada Esperança Clinic in Luanda and theSacavula Sanatorium also owe their existenceto Endiama.

Endiama continues to run a health care ser-vice for workers and their families, as well as train-ing healthcare professionals and equipping hos-pitals for specialized treatments. With this ongoingcommitment and predictions that production willrise from 6 to 10 million carats by the end of2005, Angola only stands to benefit.

ENDIAMA’S commitments to socialprogress include the promotion of rural agri-cultural development

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ODEBRECHT’S projects including, for example, the creation ofdrinking water systems, have had a huge impact on Angola

Republic of Congo. Diamondproduction generates over$650 million annually, althoughexact numbers are uncertaindue to the amount of illegal di-amond mining and smuggling.There is also scope for de-veloping small business in thediamond-cutting industry.

Angola loses an estimated$1 million daily through the il-legal diamond trade. In addi-tion to clamping down on il-legal traffickers, thegovernment has introducedseveral steps to regulate andcontrol the market. In 2003 itset up the StateCompany for theCommercialization ofAngolan Diamonds(SODIAM) to certifythe origin of dia-monds and be thesole window throughwhich the stonescan be exported.SODIAM recentlyannounced plans toset up a commercialoffice in Antwerp,through which it ex-pects to sell hundreds of mil-lions of dollars worth of stoneseach year. The firm alreadyhas an office in Tel Aviv andthere are plans to open an-other two branches in NewYork and Dubai.

The Catoca Mine is theworld’s fourth largest kimber-lite and is currently being op-erated by SMC (SociedadeMiniera de Catoca), which isin turn owned by Endiama(32.8%), Russia’s Alrosa(32.8%), Brazil’s OdebrechtMining (16.4%) and Daumonty(18%). The kimberlite yieldsquality diamonds, of which35% is gem quality, fetchingprices of around $75 -

$100/carat. Reserves are es-timated at 60 million carats.Catoca intends increasing pro-duction to as much as fivemillion carats per year. “Wethink that by 2005 we will havethe capacity to treat abouteight million tonnes a year.That presupposes a capacityfor an annual recovery of di-amonds at around 5-6 millioncarats per year,” says JoséManuel Augusto GangaJunior, Catoca’s GeneralDirector.

Of the country’s 700 knownkimberlites, only the Catoca

Mine is being ex-plored. However,capital outlays for thedevelopment of akimberlite mining op-eration are extensive.Only foreign invest-ment can providesuch capital, andonly under an agree-ment with Endiama,the state owned dia-mond mining com-pany. Recently a setof decrees was

passed allowing Endiama toenter into partnerships.

“Potential investors have tohave a certain profile,” says Mr.Ganga Junior. In addition tohaving adequate financial andtechnical capacity, their ob-jectives must extend beyondimmediate profit to more long-term visions that embrace thesocial aspect of business. Forcompanies meeting these pre-requisites, the returns are po-tentially huge. In Catoca’scase, partners annually re-ceive in dividends the equiv-alent of 140% on their origi-nal investment.

And the input that the com-panies make to Angolan so-

LUIZ ANTÔNIOMAMERIPresident ofOdebrechtAngola

ciety reflect these gains.Catoca’s social projects in-clude health clinics and ser-vices, milk distribution, sup-ply of fresh water andeducation; President ofOdebrecht Angola LuizAntônio Mameri, highlights thecompany’s high profile socialprojects, especially in the pro-motion of AIDS awareness.The government is also in abetter position to use diamondrevenues for social services,

now that the focus has shift-ed from defense to recon-struction, and the impactof this redistributionof wealth is begin-ning to show.

Another legacyof the war years isthe perception ofAngolan diamondsas tainted. The cre-ation of SODIAM is agreat step towards changingthis, but more needs to be done

to clean up Angola’s image.“We should work with the in-

ternational communityshowing that the dia-

monds in Angola aretruly for prosperity,to bring wealth andto bring develop-ment,” says Mr

Ganga. Junior.Catoca’s General

Director is sure thatAngola’s soil contains muchmore wealth, yet to be discov-

ered. Substantial investment inprospecting and geological sur-veys is needed in order to evenbegin to know what the true po-tential of the country is. “Thefuture of diamonds at an inter-national level will be based inAngola. Angola will always beamong the four most impor-tant diamond producers,” hesays. The country aims to morethan double its annual outputto 15,000 carats from the cur-rent level of 6,000 carats.

Angolais set for a

step-change indiamond

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Rejuvenated company is creatingwaves in cargo transportationSECIL MARITIMA hasevolved significantly sinceGeneral Director Amélia Ritatook up her position. The firmunderwent massive restruc-turing, balancing out the ex-cess weight in manpower,modernizing equipment andupgrading the fleet. Whilethere were many redundan-cies, workers were offeredrehabilitation and trainingprograms, and some arebeing reemployed as thecompany begins to growagain.

The company specializesin providing maritime trans-port for goods and passen-gers up and down theAngolan coast, and is re-sponsible for the trans-portation of all the goods im-

ported by the state. Maritimetransportation is a useful al-ternative to air cargo, whichis more expensive.

Learning frompast mistakes, thecompany has seenthe wisdom in be-coming more eco-nomically diversified.“We are essentiallyopen to the tourismsector,” says Ms.Rita. The firm hasowned a travelagency for a num-ber of years, whichis expanding its ac-tivities to provide a docu-mentation service for issuingpassports and visas, etc.There has also been a start innegotiation with other coun-

tries for the creation of touristpackages to promote trips toand from Angola.

Secil Maritima isalso willing to dobusiness with theprivate sector if thereis demand for theirservices. “We areopen to any part-nership type as longas it is techno-fi-nancially worthwhile,” says Ms. Rita.Currently they arelooking for partnerswith whom to opentwo tourist villages

in Mussulo and several othersat different locations. The vil-lages are by the sea to takeadvantage of nautical sportsand leisure activities.

AMÉLIA RITAGeneral Directorof Secil Maritima

SECIL MARITIMA’S current success reflects the effectiveness of recent rationalization measures

Infrastructure Foundations of nation building

CONSTRUCTING AN EFFICIENT INFRASTRUCTURE ISA PRECONDITION TO SOCIO-ECONOMIC DEVELOPMENT,WHICH THE GOVERNMENT IS DETERMINED TO ACHIEVEWITH THE AID OF PRIVATE INVESTMENT, ESPECIALLYFROM ABROAD

THREE decades of war havehad their inevitable impacton Angola’s transportationsystems. Roads and railwayshave been seriously dam-aged; ports have becomerun-down and antiquated;bridges have been destroyedor rendered useless. Manydestinations within the coun-try are accessible only by air.During the war, in fact, airtransport was theonly way of gettingaround. “We keptour diamond indus-tries working, trans-porting everythingfor them by plane.We supported thepopulations of dif-ferent regions viaairlines,” says AndréLuis Brandão, theMinister ofTransport.

The Ministry’s role has onlygrown in importance sincethen. It has established twoprincipal lines of action toput the country back on itsfeet. Firstly, there is a spe-cific focus on repairing andrenewing the railways andrelevant studies have alreadybeen undertaken with thehelp of World Bank funding.Secondly, a general rehabil-itation and modernization of

the country’s entire infra-structure, from railways toports, roads, bridges, andairports.

All this is going to taketime and, of course, money.While the government hasmade reconstruction a pri-ority, private investment isalso called for, especiallyfrom abroad. “We particu-larly like to see the Americans

operating in whatthey do well: build-ing infrastructureswith great capaci-t ies,” says theMinister.

The improvementof regional and in-ternational trade isone of the main rea-sons for embarkingon such wide-spread restructur-ing. “We’re trying to

develop specific and usefulinfrastructures to match theneeds of the South AfricanDevelopment Community(SADC) and EconomicCommunity Of West AfricanStates (ECOWAS),” says Mr.Brandão. The country’s portfacilities also aim to play amajor role in the SADC regionby improving import and ex-port capabilities, particular-ly for Angola’s landlocked

transport for all goods im-ported by the state, but it isalso open to the private mar-ket should there be demand.It has already received pro-posals from U.S. companiesin the oil sector to providemaritime logistics and oper-ation of services to offshore

facilities. Trade prospectsalso mean that US firms areseen as advantageous part-ners. “We still think it prefer-able to strengthen our rela-t ionships with Americancompanies,” says AméliaRita, Secil Maritima’s GeneralDirector.

neighbours.Secil Maritima, the gov-

ernment’s flagship maritimecompany, has many plansfor Angola’s continued de-velopment. New transportprojects include passengerand merchandise traffic upand down the coast, and the

service of goods trans-portat ion to Cabindaprovince. A ferry service be-tween the enclave and neigh-bouring Congo is also in thepipeline.

As a state company, SecilMar i t ima wants to com-mence international maritime

ANDRÉ LUISBRANDAOMinister ofTransport

MODERNIZED ROAD, rail, air, and maritime transportation systems are being put in place, allowing trade to grow

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JUST as with transportation in-frastructure, Angola’s telecom-munications suffered as a re-sult of the war and are currentlyin need of serious rehabilita-tion. In addition, the needs ofthe population are changing –the use of cellphones, for in-stance, is growing exponen-tially. It is estimated that Angolawill have 700,000 cellphoneusers by the end of thisyear. Given these cir-cumstances, the sectorhas very high investmentpotential.

The Ministry of PostalServices andTelecommunications isengaged in several de-velopment programs tooptimize the restructuringand modernization of thecountry’s systems, bear-ing in mind its legal com-mitment to provide com-munications to all citizens.In order for these pro-grams to have the mosteffect, the governmentforesees the public andprivate sectors workingto complement eachother’s activities. “The pri-vate sector has an ex-tremely important role toplay in the developmentof this sector,” saysMinister of PostalServices andTelecommunications LicínioTavares Ribeiro. The govern-ment is eager to open up newareas and help create a mar-ket there, providing an entryfor private operators and in-vestors.

The sector has been partlyliberalized and privatization willcontinue in a gradual fashionas the country’s systems be-come better established.Angola Telecom is the state op-erator, supplying services and

looking for high technology lev-els in its potential partners.Sonangol also operates a fixedservices company, Mercury,which has recently signed acontract with an Israeli firm toinstall a satellite-based tele-phone network in the countryand on oil rigs. Unitel andMovicel are currently the twoprivate sector operators, al-

though the Minister foreseesthe introduction of a third li-cence. Angola works with boththe European and the U.S. sys-tems, meaning the market istruly open to all investors.

Unitel started operations in2001, since when it has ac-quired a market share of around65% and expanded its cus-tomer base from 25,000 to420,000, a reflection of thegrowing importance oftelecommunications in the

country. While the firm is stillkeen to extend its market share,it is also focusing on improv-ing quality and diversifying ser-vices. Planned investment of$240 million over the next twoyears is hoped to bring furthercustomer growth while invest-ment in technology will help at-tract new clients and allow thefirm to provide additional ser-vices such as Internet. “We areprepared for possible compe-tition,” says Deputy GenerallDirector Amilcar Safeca. “Wefocus on developing human re-sources and in maintaining ourhigh annual growth rate andcompetitiveness”. Unitel hascreated a strong image for it-self not just through its tele-com services but also by meansof its social investments, whereit provides funds and equip-ment for national redevelop-ment. The company is lookingabroad to extend its connec-tions, particularly in countriesto which it is traditionally linkedbut also toward North andSouth America.

Angola’s postal serviceshave also been opened tocompetition following a reformprocess initiated in 2001. Thisyear, the ministry has come upwith a Development MasterPlan which will tackle all themajor challenges in this area.“The postal services have animportant role to play not onlyin economic activities but asa mechanism for national in-tegration,” says Vice-Ministerof Telecommunications andPostal Services AnaGuimarães. The Master Planenvisions a change in thecompany’s role from a publicprovider to a private-sectorbusiness, and postal stationswill have a much broaderrange of functions, includingthe provision of small-scale fi-


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As Angola’s main opposition party, UNITA is working for a brighter future for the people of Angola. After under-taking democracy-deepening reforms, the party is now a unified, open party. Committed to peace, united andstrong, UNITA is looking forward to times of opportunityfor Angola and the Angolan people.

Indicative of UNITA’s determination to put aside differences and move forward, is its will to have a consensual development plan which all parties wouldagree to follow irrespective of who is the governingparty. UNITA is determined to work in order to improve people’s lives now while aiming for power in the years ahead.

WORKING FOR A BRIGHTER FUTURE

UNITARua Dr. Américo Boavida16-Luanda, Angola Tel: 00 244 2 39 17 24, 00 244 2 37 18 59www.kwacha.net, www.samakuva.com

UNITEL is focusing on improving quality, training staff, and diversifying services

Talking about investment potential in telecommunicationsnancial services. “The biggestchallenge is to find the finan-cial support needed for all thisto work,” says Mrs.Guimarães. The Ministry islooking to the private sector toprovide most of this funding.

Francisco Esperança,Chairman of the Board ofDirectors for the Post Office(ENCTA), is fully aware of thechallenges that lie ahead. Hispriorities are the developmentof human capital and the mod-

ernization of technology to en-able the Post Office to expandits services. Internet access forall is one of his aims. “All thosefinancing agents that want tosupport our cause are wel-come,” he says.

FRANCISCOESPERANÇAAngola PostOffice

AMILCARSAFECA Deputy GeneralDirector of Unitel

LICÍNIOTAVARESRIBEIROMinister of PostalServices andTelecommunications

ANA MARIAGUIMARAESVice Minister ofPostal Services andTelecommunications

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ANGOLA’S POST OFFICE is preparing for the challenges ahead through investment in human capital


ONE POINT on which most rep-resentatives of Angola’s ministriesand enterprises agree is that thecountry is in need of a completeimage change in the eyes of theworld. Now that the war isa thing of the past, andnational reconstruc-tion is well under way,there is no better wayto promote Angolaas a welcoming, safecountry, full of cultureand possessing of beau-tiful landscapes and exoticwildlife, than by giving life to whatcould eventually become a boom-ing tourism industry.

The National PrivateInvestment Agency (ANIP), is en-gaged in sustained promotion

of the country’s tourism sector,highlighting both the attractionsof Angola as a travel destinationand the many private investmentopportunities available. Many of

Angola’s network of nationalparks and game re-

serves are beingopened up to jointventures, for in-stance. Internationalstandard hotels are

already present, butthere is plenty of scope

for expansion in the hotel in-dustry, both in increased capacityand in less expensive accom-modation. Priority developmentareas are health, sports, cultur-al, environmental, and businesstourism.

Angolan wild life is rich andvaried, ranging from elephantsand hippos to the more raregiant black sable or the whiterhino. The country’s regions offervery different landscapes andclimates, from white sand

beaches to lush rainforests,mountain plateaus or majesticwaterfalls; from mildly temper-ate to dry and hot or steamy andtropical. More than 1,000 milesof Atlantic coastline sustain fish-ing activities, scuba diving, and

other water sports while inlandthere are prospects for hunting,horse riding and golf. The ex-tent of bio-diversity in the coun-try make it an ideal location forthe development of eco-tourismactivities.

Angola has a long traditionof producing arts and craftsand excels in creating uniqueand beautiful objects madefrom ivory, wood, ceramics,and metal. Other aspects oflocal culture that contribute tothe overall attraction of thecountry are dance, music andnightlife. In terms of culinaryexperiences, Angola has muchto tempt the palate: fish, shell-fish and meat cooked withstrong spices are some of theits specialities.

The future of the industry isself-perpetuating: increasedvisitor numbers – and conse-quently foreign revenues – willlead to improvements in infra-structures, from accommoda-tion to interior travel facilities,and these in turn will lead to abetter global understanding ofwhat Angola has to offer.


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Reshaping the world’s image ofAngola into the paradise it truly is

ANGOLAN INSTITUTIONS ARE NOW WORKING HARDTO MAKE THE WORLD SEE THAT THE COUNTRY IS ANEXCELLENT, MULTI-FACETED TOURIST DESTINATION

THIRTY YEARS ofcivil war have notchanged the friendlycharacter of the Angolanpeople. Visitors can restassured that they will bewelcomed by a widesmile and an enthusiasmto make everybody’sstay as enjoyable aspossible. It could besaid that their hospi-tality is in itself a key attrac-tion for foreigners.

Excellent hospitality is anintegral part of their traditions– traditions that they maintain,follow and transmit from gen-eration to generation. TheAngolan population com-prises various ethnicities, andeach one has incorporatedtheir own particular customsinto their shared traditions.Today the coexistence ofdifferent ethnic culturesforms a spectacular cul-tural mosaic that is es-pecially attractive to trav-elers arriving in Angola.Yet to become estab-lished as a major touristdestination, this countryis one of the few trulyundiscovered paradises tobe found in Africa.

The ritual dances,the indigenous gas-

tronomy, and the tra-ditional handicrafts aresome of the tourist at-tractions on offer.Obviously the large hotelscan provide tourists with

international cuisine butit would be a shameto miss the opportu-

nity to experience thelocal culinary delights.

When exploring shops,tourists can find magnificentwood carvings and authen-tic works of art at a reason-able cost. Unique souveneirscrafted from metal and ivoryare also on offer.

The government of thisbeautiful country has anabundance of attractions topromote that are bound tomake an impression on trav-elers. Mountain scenery of in-credible beauty, astonishingrivers and waterfalls, undis-covered beaches, opportu-nities for diving, and mixingwith the locals all offer an un-forgettable experience.

Potentialto attract a

wide variety ofvisitors meanstourist industry

could boom

TourismAn

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UNIQUE LANDSCAPES and exotic wildlife are among Angola’s most impressive tourist attractions

COLORFUL andvibrant culturesto experience and enjoy

A tradition of hospitality

Capoeira enchantsIN THE U.S. there is the belief that capoeira (a mix of ritual dancingand martial arts) is Brazilian. Indeed, it is through Brazilians that ithas become popular in the U.S. However, capoeira was taken to Brazilby Angolan slaves. Today this dance is popular in all Portuguese-speaking countries and further a field. To see an authentic perfor-mance of capoeira and get into the rhythm of the accompanying per-cussion is an opportunity not to be missed.

COUNTRY STAFFProject Director andEditorial Research:

Christian Iglesias-DelaneyCommercial Director:

Florencia Casal


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