Angola: Corporate Council Releases Business Investment Guide

6 February 2002
Corporate Council on Africa (Washington, DC)
press release

Washington, DC — The Corporate Council on Africa (CCA) today released a guide on Angola for U.S. businesses that underscores the extensive commercial relationship between the United States and Angola and showcases new areas for American investment. Angola, located in Southern Africa, provides nearly five percent of all U.S. oil imports.

The guide's release precedes a February 26 White House meeting between Angolan President José Eduardo dos Santos and President George W. Bush.

The two leaders will discuss regional political stability, trade and economic development, poverty and HIV/AIDS.

CCA President Stephen Hayes said of Angola, "The volume and proximity of its oil production alone make the country a vital economic partner, especially in light of the situation in the Middle East. What's more,

Angola's efforts to rebuild transport networks, hotels, and power grids are generating opportunities across many other sectors." Economic growth in Angola is predicted to reach 10 percent in 2002.

Angola is one of the world's most important sources of new oil exploration and production. The country's current production of nearly 1 billion barrels of oil per day makes it the second largest producer in Sub-Saharan Africa after Nigeria. New discoveries within the next decade could spur foreign direct investment in excess of $20 billion.

Angola: A Country Profile for U.S. Businesses includes macroeconomic information, principal growth sectors and contact information for key government and business leaders in Angola. It also provides overviews of the country's oil & gas, telecommunications, transportation, infrastructure and agribusiness investment opportunities.

The guide was underwritten by C/R International; Ocean Energy; GoodWorks International; and Intels Integrated Logisitic Services. To obtain a copy of the guide, contact CCA at (202) 835-1115 or cca@africacncl.org CCA, established in 1992, is a nonpartisan 501 (c) (3) organization of nearly 200 American companies dedicated to strengthening the commercial relationship between the United States and Africa. CCA members represent nearly 85 percent of total U.S. private sector investments in Africa.

CCA's website is at www.africacncl.org.

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