The business environment in Angola records significant improvements since 2018, becoming a key factor to attract new investments and the return of big multinational companies that left the country.
For example, eight years later the South African multinational company De Beers Exploration Holdings Limited returned to Angola in April this year and will invest USD 33.2 million in two new mining projects in the provinces of Lunda Sul and Lunda Norte.
This progress is framed in the reforms implemented by the Angolan Government in the diamond sub-sector in the last five years of governance which provides greater transparence to the procedures for granting mining rights as well as major participation in the social and economic development of the mining areas and of the country in general.
Specifically, the South African diamond industry in Lunda Sul will invest in Saurimo, Dala and Muconda municipality, in a territorial extension of 9,984 square kilometres, while in the province of Lunda Norte the mining investment will be in the municipalities of Chitato, Lucapa and Cambulo in an área of 9,701.
In this scope, the Ministry of Mineral Resources, Oil and Gas (MIREMPET), the Endiama-EP and the company Rio Tinto signed in 2011 a mining investment contract marked with the entry in Angola of the Australian multinational mining company.
The aforementioned contract foresees 75% for Rio Tinto and 25% for Endiama-EP, while keeping open the possibility for the Angolan side to increase its stake up to 49%.
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In this regard, the US multinational telecommunications company Africell, started operating in the Angolan market in the first quarter of this year, becoming the fourth mobile operator of the country.
For this effect Africell invested 300 million dollars which ensured for the first phase 400 direct and 100 indirect jobs for young people.
Meanwhile, the improvement of the business environment in Angola has been fundamental to increase the youth employment rate.