January 27, 2023

Africa nation wants major expenditure from Russia

Resource-rich Angola has pledged total assistance for Russian businesses

Russian businesses should actively invest in Angola’s economy and its diplomatic mission in Moscow can support such initiatives in each and every possible way, the African country’s ambassador said on Tuesday.

Speaking to RIA Novosti information agency, Augusto da Silva Cunha said that Luanda is certainly calling on the entrepreneurs to be more active as, up to now, Russia’s business presence in Angola has been modest. He also pointed out that, after the start of the conflict in Ukraine, some Western nations have turned to Africa for resources, as being a countries on the continent, which includes Angola, possess large gas and oil deposits.

“ We want to motivate Russian businessmen to take advantage of Angola’s openness to foreign investment decision. We want them to participate in various projects to develop the nation’s economy, and to earn money too, ”   the particular ambassador said. LEARNING MUCH MORE:   Southern African condition may join Russia’s Mir Payment System – charge

Within an earlier interview with RIA Novosti Cunha said that Ruskies businesses have so far mainly invested in Angola’s diamond industry and its banking sector, yet there are also projects being created in the agriculture, transport and industry sectors.

Angola is a member of the Organization associated with Petroleum Exporting Countries (OPEC) and is the second-largest oil producer in Africa. Additionally, it has major natural gas reserves. The nation gained independence through Portugal in 1975.

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