More than 250 million dollars (215 million euros) have been invested in Angola over 20 years of operation, according to the chief financial officer of a conglomerate engaged in commerce, industry, and services.
During the second day of the 17th US-Africa Business Summit, which concludes Wednesday in Luanda, Eduardo Barbosa stated that the group is planning three new projects, with 220 million dollars expected to be invested in the next two years.
“The group is focused on the verticalization of its projects. We have three projects on this path, and more than 220 million dollars will be invested in the country over the next two years,” he remarked.
The summit, bringing together African and American investors and officials in Angola’s capital, was described by the businessman as a significant opportunity to attract foreign investors to explore Angola’s potential.
“I believe visitors who witness the industries operating here will be impressed, and this forum aims to showcase Angola’s potential,” he noted.
Barbosa also mentioned that the business environment in Angola is challenging but has shown significant improvements compared to a decade ago.
“Every place has difficulties and areas for improvement, but over the past ten years, the country has improved greatly. If it hadn’t, we wouldn’t be making continuous investments in Angola. There is still a lot to be done in terms of infrastructure,” concluded Barbosa, the CFO of Grupo Naval.
In March, the Angolan President, João Lourenço, inaugurated Refitec – Fábrica de Óleos Alimentares, located in the Boavista area, Luanda. With a capacity to refine and process 500 tons daily of palm, soybean, sunflower oils, and other vegetable fats, the facility marks an investment by Grupo Naval.
