Angola and Mozambique are among the five African countries recommended by the consultancy EXX Africa as the best investment destinations for this year, along with Ethiopia, Ghana and Mauritania.
“The selection is based on our local research, our own forecasting methodology and quantitative risk calculations,” read the report “Africa Investment Risk Report 2019”, which was sent to investors and which Lusa had access to.
The selection, explained the analysts, led by Robert Besseling, “presents some of our predictions of risk for this year and signals potential business opportunities and new investments” in a set of estimates that takes into account “the main reasons for the risks security and economic policies and other longer-term trends that can determine a country’s trajectory. ”
The consultant EXX Africa considers that Angola benefits from the program with the IMF, leading to more investments, with “immediate opportunities” in oil, but pointed to the bank and the debt of Sonangol as medium term risks.
According to the Africa Investment Risk Report 2019, Angola, which appears again on the list, this time in second place after Ethiopia, when last year it had been in first place, is presented as a country whose “economy will recover in 2019 with the prospect of increasing levels of oil production and financial support from the International Monetary Fund (IMF). ”
In the construction sector, says the director of EXX Africa, “there are major infrastructure projects, such as the Luanda international airport, the Caio port project or the Caculo Cabaça hydroelectric plant, which are expected to undergo contract changes by the State and reputational risks to contractors, as well as likely delays, as the agreements signed by the former Government are being re-examined by the current one. “