Angola’s billion-dollar investment program is unlocking its economic potential

Angola’s private investment program PROPRIV is helping to diversify the economy, creating new opportunities for its young and growing population.

Rich with potential

With its long coastline, huge plateau of arable land, and extensive natural resources, Angola is home to a wealth of opportunities. Currently, oil dominates its economy, accounting for around 20% of GDP, 60% of government tax revenues, and 95% of exports. But, as uncertainty in the global market causes oil prices to fluctuate, this dependence has created volatility.

Now this vast and varied land is looking to diversify its economy, capitalizing on its strategic location as the gateway to southern Africa, its young and growing population, and its openness to investment across sectors.

Among the initiatives rolled out by the government to strengthen the country’s macroeconomic stability is the Integral and Partial Privatization Program for Public Companies (PROPRIV), which aims to privatize public companies and open up opportunities for investment. Launched in 2019, the program has already generated approximately KZ 700 billion (roughly $1.5 billion) across its various phases, with the government extending the initiative through to 2027.

“PROPRIV is an instrument for reorganizing the role of the Angolan state in the economy, restructuring the productive capacity of assets, and restrengthening the real economy,” says Ottoniel dos Santos, Angola’s Secretary of State for Finance and Treasury.

“We started the program with 130 assets, and the objective was to diminish the participation of the state in the economy, allowing the private sector to be the champion of our economy and boost the opportunities that could be placed in our market.”

Investment drives opportunity

In 2002, after the civil war ended in Angola, the state took control of many of the country’s infrastructure needs and services. But after a decade and a half, as the country stabilized and GDP grew, government priorities began to shift, opening many previously state-run enterprises to private investment. Priority sectors include finance, telecommunications, mining, aviation, agriculture, and media.

“Since 2017, the state has focused on [what] it believed should be the state’s role, [in areas like] strategic infrastructure, health, education, and sovereign,” explains dos Santos. “So now we see a lot of assets and shares shifting to the private sector to boost production and allow more jobs to be created. By being privatized, those assets will be managed in a more strategic way by those who really own them.”

Last year saw the impact of this ownership come into sharper focus, especially across agriculture and forestry, and commerce and vehicle repair – which contributed the most to Angola’s annual GDP, at over 23% and 19%, respectively.

But beyond monetary value, a core priority for the program is creating opportunities for the people of Angola, where half the population of around 37 million is under 18 and about 20% are unemployed. “PROPRIV is not a program that is focusing only on revenue, it’s focusing on production, job creation, and opportunities,” says dos Santos.

Diversifying foreign investment

Already Angola is seeing a boost to the diversification of its foreign direct investment (FDI). The country received $1.52 billion in FDI during the second quarter of 2025. While there was a fall in oil-related investments compared to the previous year, non-oil sectors saw a 120% rise to reach a total of $98.6 million.

Attracting FDI could increase Angola’s real GDP growth by 1 pp by 2050, according to a 2025 report by the World Bank. The combined effects of greater productivity, a higher level of human capital, and more private and public investment could raise long-term growth by as much as 3 pp by 2050. This scenario would bolster the country’s GDP growth to 8.4% by 2050 (up from 3.1% actual GDP growth in 2025), as well as its investment rate, which stood at 9.65% of GDP in 2025.

“The state is creating opportunities, focusing on political transparency and on creating rules that are identified and known by everyone that wants to come here and invest, and then enabling the private sector to thrive,” says dos Santos.

By supporting viable investment opportunities, PROPRIV is an important building block in the country’s mission to build a bright and sustainable future for its people. As dos Santos concludes: “PROPRIV [is shifting] Angola away from economic volatility to a framework it wants and needs in the future.”

Find out more about Angola’s investment opportunities here.