Angola: Banking efficiency crucial to national business performance

President of the Angola-China chamber of commerce (CAC), Manuel Arnaldo Sousa Calado President of the Angola-China chamber of commerce (CAC), Manuel Arnaldo Sousa Calado

The success of National business sector depends on the efficient performance of commercial banks, Angolan financial system and foreign investment to ensure economic growth and improve the living quality of the citizens.

This was said Tuesday by the president of the Angola-China Chamber of Commerce (CAC), Manuel Arnaldo Sousa Calado.

Manuel Calado added that good organisation of the national business community will also allow the sector to deal with unexpected economic and financial crisis the World faces.

The official was speaking at the opening ceremony Angola / China Investment Forum, running from Monday at the “Talatona” Convention Center in Luanda.

He noted that the Chinese business investment in Angola will not be efficient unless the national entrepreneurship and Angolan institutions match their Asian country’s counterparts.

With a few months of its existence, CAC comprises more than 625 members in all provinces of the country, amongst Chinese and national businessmen.

According to Manuel Calado, these Angolan and Chinese investors deposited 483 projects subdivided in the sectors of agriculture, fisheries, construction, trade and industry, hotel and tourism, energy and mining, respectively.

He added that CAC emerges as a new idea that gives national businessmen better conditions to achieve the objectives that lead to the development of the country’s economy and the enrichment of the Angolan business community.

With the holding of the Angola / China Investment Forum under the theme “An opportunity to accelerate the diversification of the economy”, Angola becomes the first country in the Portuguese Speaking Countries Community (CPLP) to implement the Private partnerships the Chinese government proposed to the African continent.

The two-day event gathers over 400 Chinese business people and 500 national investors.

Source: Angop