US promises Angola $2bn investment

Wednesday February 19 2020

US Secretary of State Mike Pompeo.

US Secretary of State Mike Pompeo at a business leaders reception in Luanda, Angola, on February 17, 2020. PHOTO | AFP 

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Several American firms will invest more than $2 billion in Angolan oil and natural gas projects, US Secretary of State Mike Pompeo confirmed.

Speaking at a meeting in Luanda organised by the US Angola Chamber of Commerce, Mr Pompeo also said America wanted to be a good partner to the Angolan people.

According to the US top diplomat, the economic transparency and the fight against corruption agenda implemented by President João Lourenço needs to be supported.

“We want to help hold responsible all who have embezzled Angolan money as we do in other countries,” Mr Pompeo said after his meeting with the Angolan Foreign minister, Mr Manuel Augusto.

President Lourenço said that private investment, regional security, the fight against corruption and the recovering of the country’s assets were the priorities of his government.


Mr Pompeo Monday concluded his 24-hour visit to Angola, after also visiting Senegal, and was on his way to Ethiopia.

Angola and the US cooperate in several areas such as politics and defence and security.

The Angolan opposition, however, criticised Mr Pompeo's visit for excluding them and the civil society from his itinerary.

Angola is Africa’s second-largest oil producer and was regularly cited as one of the continent’s fastest growing economies.

However, the country has since 2015 faced a serious economic crisis, occasioned by the oil prices depression.