U.S. Secretary of State Anthony Blinken’s visit to Luanda in January 2024 cemented Washington D.C.’s commitment towards energy development and economic prosperity in Angola. In a meeting with Angola’s President João Lourenço and Foreign Minister Tete António, Blinken discussed bilateral relations and partnerships in the areas of infrastructure, energy, economic engagement and trade.
The U.S. signed a seven-side MoU in October 2023 with the African Development Bank, the Africa Finance Corporation, the EU and the governments of the Democratic Republic of Congo (DRC), Zambia, and Angola for the Lobito Corridor. An economic corridor linking the Copperbelt in southern Africa to the Atlantic Coast, the $500 million Lobito Corridor project encompasses a 1,300km railway line and upgrades to critical infrastructure.
International collaboration and investment opportunities in the Angolan market will be showcased during this year’s Angola Oil & Gas (AOG) conference, scheduled for October 2-3, 2024. AOG 2024 – organized by Energy Capital & Power – will take place in Luanda and is the official meeting place and investment platform for the Angolan oil industry. For more information, visit www.energycapitalpower.com or contact firstname.lastname@example.org.
Marking 30 years of diplomatic relations, Special Representative to the U.S. Export-Import Bank Rita Jo Lewis visited Luanda in July 2023. The visit followed the approval of the finance institution’s $900 million in financing for solar energy company Sun Africa’s solar project in Angola. The projects currently in development will generate 370 MW of renewable energy in Angola, mitigating up to 936,000 tons of CO2 emissions per year.
Further strengthening Angola’s commitment to the global energy transition, the Angolan Geological Institute and the U.S. Geological Survey signed a MoU in November 2023 to advance Angola’s role as a critical minerals producer. Additionally, Angola joined the Global Methane Pledge in the same month in an effort to reduce its methane emissions by 30% between 2020 and 2030.
In the transport sector, U.S. Transportation Secretary Pete Buttigieg and Angola’s Minister of Transport Ricardo D’Abreu signed an Open Skies Agreement to increase air connectivity between the two countries. The agreement will open new opportunities for trade, tourism and investment. Meanwhile, Angola’s flag carrier TAAG confirmed an $3.6 billion order for four new Boeing 787s in October 2023.
Additionally, Blinken and Minister António discussed Angola’s role in the bilateral Partnership for Atlantic Cooperation, a 32-country forum that brings together coastal Atlantic countries across Africa, Europe, North America, South America and the Caribbean.
In tandem with physical infrastructure, the U.S. invested significantly towards Angola’s digital infrastructure. A nearly-$5 million investment was made by the U.S. in August 2023 to support the Mobile Money is Better project, which will develop and improve Angola’s existing mobile network while supporting digital connectivity to the global economy.
Emboldened by Angola’s commitment to economic reform since 2017, economic prosperity, infrastructure development and energy security in the country has served as one of U.S. President Biden’s key foreign policy priorities since taking office in 2020.