An Angolan delegation led by Dr. Jerónimo Pongolala, Executive Director of the Agency for Private Investment and Promotion of Exports of Angola (AIPEX), and the Deputy Governor of the Central Bank of Angola, met with the Rwandan business community at Lemigo Hotel in Kigali to showcase investment opportunities in the southern African nation.
This marks the second investment forum organized by the Angolan Embassy in Kigali, highlighting Angola’s vast potential for investment. The event aimed to strengthen economic ties between the two nations by presenting Angola as a prime destination for Rwandan businesses.
Angolan Ambassador to Rwanda, Eduardo Barber Octávio, emphasized the broad range of opportunities available in Angola. “This is a chance to explore promising opportunities in agriculture, livestock, irrigation, aquaculture, minerals, tourism, ICT, energy, and infrastructure development, among others,” he stated.
The ambassador also lauded the excellent bilateral relations between Rwanda and Angola, established since 2002, and reiterated the commitment to further strengthening them through trade and investment partnerships.
Strong Foundations for Economic Collaboration
Rwanda and Angola have already signed several economic cooperation agreements across sectors such as agriculture, oil, and gas. These initiatives are poised to gain momentum with the implementation of the African Continental Free Trade Area (AfCFTA).
During discussions, it was noted that Rwanda’s national carrier, RwandAir, can extend its services to Luanda, facilitating connectivity and fostering business exchanges.
Dr. Pongolala encouraged Rwandan entrepreneurs to capitalize on Angola’s improved investment climate. “Angola has developed infrastructure to support business operations and established AIPEX as a one-stop center to simplify investment processes,” he explained. AIPEX provides services ranging from business registration to acquiring all necessary licenses, making it easier for foreign investors to establish operations.
Competitive Incentives for Investors
The AIPEX director highlighted Angola’s attractive incentives for foreign investors, including tax benefits lasting between eight and 15 years. “Angola offers not just opportunities within its borders but also access to a regional market of over 300 million people,” Dr. Pongolala said, citing strategic infrastructure such as the ports of Luanda and Lobito, which serve as gateways to the region.
He reassured Rwandan businesses about Angola’s commitment to protecting investments. “Anti-corruption reforms are strengthening the business environment, and investors are assured of land, loans, insurance, and security for their ventures,” he said. Furthermore, Angola’s laws ensure the protection of capital and facilitate its repatriation.
Michelle Umurungi, Chief Investment Officer at the Rwanda Development Board (RDB), welcomed the Angolan delegation and commended Ambassador Octávio for fostering collaboration through the forum. She noted that Angola’s vast natural resources and diversification efforts present exciting opportunities for Rwandan businesses.
She stated that this forum aims at fostering collaboration between the two nations and welcomed the local companies present at the session for being open at exploring opportunities in Angola.
Umurungi underscored the growing recognition of the immense potential in deepening collaboration between the two countries. “Rwanda’s position as a hub for innovation and a gateway to East Africa perfectly complements Angola’s strengths.”
Local companies attending the session expressed interest in exploring Angola’s opportunities. Dr. Pongolala assured them that Angola’s vast arable land and Public-Private Partnership (PPP) framework provide fertile ground for investment, particularly in agriculture and agribusiness.
A Bright Future for Angola-Rwanda Relations
Angola continues to position itself as one of Africa’s secure and investor-friendly destinations. The government’s focus on economic diversification, combined with its strategic location, makes it a prime market for Rwandan entrepreneurs looking to expand their footprint in Africa.
With the implementation of AfCFTA and closer ties between Kigali and Luanda, the two nations are set to unlock significant economic potential, benefitting businesses and communities across the continent.
