Luanda - Angola is among the top five destinations for foreign investment in Africa for 2024, according to a projection by Business Today, one of Nigeria's largest economic and financial information magazines.
In its latest edition published this week, the magazine presents a list of the five countries considered to be the most promising economies on the African continent for attracting investors in 2024.
Led by Senegal, the list also includes Namibia, Côte d'Ivoire and South Africa.
In the case of Angola, Business Today emphasises that the country has a diverse energy portfolio and national efforts to become a regional supplier.
The business magazine emphasises that Angola stands out as a highly strategic investment destination in 2024 with the government's efforts to boost hydrocarbon production through projects like TotalEnergies’ Begonia oil project, the Angola LNG development, and the Agogo Oilfield development.
In the text entitled “Here are 5 attractive investment destinations in Africa in 2024”, the magazine news also highlights the advance in refining capacity through the construction of three new facilities, reaffirming the country’s long-term development plan and investment potential.
It recalls that on the renewables front, the country is eager to capitalise on untapped resources and is inviting developers and power players to invest in the industry.
In addition, the magazine considers the country's privatisation programme to be a crucial initiative that will boost private and foreign investment throughout the economy.
Business Today clarifies that Africa is on the verge of transforming its energy sector, driven by growing global demand and with a largely untapped portfolio of resources.
It explains that foreign investors are eager to capitalise on diversified supply chains and at the same time it points out the efforts of African governments to strengthen industrialisation and economic growth which are unlocking a new range of opportunities for financiers and project promoters.
MRA/jmc
