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Angola might benefit from new UK funding – Ambassador

The United Kingdom might put in place a new form of funding for Angola as the country is faced with fiscal constraints and shortage of funds.

This was said Wednesday in Luanda by the UK ambassador to Angola, John Dennis.

According to the diplomat, the new forms of funding would involve public-private partnerships enabling a combination of public and private resources, including foreign private resources, to launch the construction of new infrastructures in the country faster than in the past.

He stated that the UK was offering a method to help the Angolan Government’s scarce resources to meet the needs. The diplomat stated that the UK is committed to running a number of seminars on the said partnerships, with the involvement of many Angolan Government officials.

On the other hand, John Dennis said that the UK invested in Angola in 2015 about three billion pounds, adding that details of the trade between both countries would be released soon.

He stated that he was convinced that the Angolan Government had the same priorities as those of the UK that is aware of Angola’s huge agricultural and agritech potential.

UK Ambassador to Angola, John Dennis (Photo: Alberto Julião)
UK Ambassador to Angola, John Dennis (Photo: Alberto Julião)

The ambassador also mentioned the memorandum signed in June 2016 between the two countries in various domains, stating that initiatives have been taken through various instruments.

UK is currently on a process of identification of specific investment opportunities, he said, adding that the agenda for the next visit of the British baroness to Angola would include the central Huambo province to assess on the ground investment opportunities.
He explained that an adequate identification of opportunities was crucial to attract concrete interest from prospective UK investors.

As to the ongoing economy diversification process, the UK ambassador said what matters right now is for Angola to tell the investors clearly about existing investment opportunities.
According to him, it is evident that there are currently more opportunities for foreign investors, but the terms are not always clear enough.

He suggested that the authorities at national or regional level might gain more and have more advantage if they made the terms clearer.

To him, despite some improvement, the information available about investment opportunities in Angola is not enough, but there is potential to do more in this regard.
John Dennis wished Angola better days, stressing however that the challenges facing the country are significant and the determination of the authorities to address them was crucial.

As he stated, several British companies believe that the Angola market offers great potential and the UK involvement basis in the country was expanding, reflecting or aligning with the ongoing economy diversification economy.

The diplomat announced that a conference would be held in London to give shape to the expansion of the UK involvement basis and stimulate the interest of British companies to invest in Angola.

Source: Angop


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