Latest news with #Angola
News24
a day ago
- Business
- News24
US envoy plays down AGOA, African visa concerns
The top US diplomat for Africa on Tuesday dismissed allegations of unfair US trade practices and said that funding delays would not derail a key railway project connecting Angola, Zambia and the Democratic Republic of Congo. African Union officials on Monday questioned how Africa could deepen trade ties with the United States under what they called "abusive" tariff proposals and tightening visa conditions, largely targeting travellers from Africa. "There is no visitation ban," Ambassador Troy Fitrell said during a press conference at the US-Africa Business Summit in Luanda. He said that US consulates continue issuing visas regularly, although some now come with shorter validity periods due to concerns over overstays. Several African business and political leaders have raised concerns about a sharp drop in visa approvals, particularly for travellers from West Africa, since late 2023. Washington's tariff plans have also added to cooling diplomatic ties with African countries, as some economies — including Lesotho and Madagascar — warned that even a baseline 10% levy could threaten critical exports such as apparel and minerals. But Fitrell said that the proposed US import tariffs were not yet implemented, and negotiations were ongoing to create a more reciprocal trading environment, including through the renewal of the African Growth and Opportunity Act (AGOA). The initiative grants qualifying African nations duty-free access to the US market and is due to expire in September. Fitrell also reaffirmed his country's commitment to the Lobito Corridor railway project, which links Angola's coast to copper-rich Zambia and the Democratic Republic of Congo. "It's not at risk," he said of the initiative. The US International Development Finance Corporation's Head of Investments, Conor Coleman, described it as a "win-win" for US investors and African economies, and underscoring its significance for regional integration. The Trump administration has axed swaths of US foreign aid for Africa, as part of a plan to curb spending it considers wasteful. Angolan President João Lourenço, addressing more than 2 000 government and business leaders at the summit, said US companies should shift from aid to investment-driven partnerships. "It is time to replace the logic of aid with the logic of investment and trade," Lourenço said, urging diversification into sectors such as automotive manufacturing, shipbuilding, tourism, cement, and steel production.
Zawya
2 days ago
- Business
- Zawya
CORRECTION: New Study Shows the Coca-Cola System has an Economic Impact of $10.4 Billion Across its Value Chain in Africa, Supporting More Than 1 Million Jobs
Across 54 African markets, The Coca-Cola Company and its authorized bottlers, collectively known as the Coca-Cola system, contributed $10.4 billion in economic activity across its value chain in 2024. The Coca-Cola system and its value chain supported more than 1 million jobs in retail, agriculture, manufacturing, transport and services in Africa. The Coca-Cola system purchased $4.3 billion from suppliers in Africa in 2024, representing 83% of the system's total procurement on the continent. The Coca-Cola Company ( announced the results of a comprehensive, Africa-wide socio-economic impact study during the 2025 U.S.-Africa Business Summit in Luanda, Angola. The study shows that the Coca-Cola system, made up of The Coca-Cola Company and its authorized bottlers, working with a wide network of suppliers, manufacturers, service providers and customers, contributed $10.4 billion in value-added economic activity across its value chain in Africa in 2024. The Coca-Cola system supported more than 1 million jobs across its value chain on the continent in sectors like retail, agriculture, manufacturing, transport and services. This included 36,800 direct Coca-Cola system jobs, plus 987,000 indirect jobs that are supported across the value chain, meaning the system collectively supported 27 additional jobs for every job it directly creates. The study, conducted by global consultancy Steward Redqueen, shows that the system invested $4.3 billion in the African economy in 2024 through the purchase of goods and services from local suppliers, representing 83% of its total procurement. 'Our long-standing presence in Africa, working with locally owned bottlers and suppliers, allows us to drive more sustainable growth and contribute to the continent's development,' said Luisa Ortega, president of the Africa operating unit of The Coca-Cola Company. 'Our unique operating model allows us to make a lasting impact in local communities.' The company's portfolio in Africa includes a wide range of brands in several beverage categories. Ingredients and packaging used by the Coca-Cola system in Africa are mostly locally sourced, supplied, produced, manufactured and distributed. 'The Coca-Cola Company's commitment to Africa remains steadfast,' Ortega said. 'The Coca-Cola system has announced investments of nearly $1.2 billion on the continent over the next five years, and we are hopeful that stable and predictable policy environments will enable more investments in the months and years ahead. Additionally, the Coca-Cola system will invest nearly $25 million by 2030 to help address critical water-related challenges in local communities in 20 African markets.' This study highlights the Coca-Cola system's role in Africa's long-term growth and driving more sustainable development across the continent. The approach adopted by Steward Redqueen integrates client-provided operational data with trusted third-party economic sources and industry benchmarks. More than just measuring direct contributions, the analysis uncovers economic interlinkages, showing how the Coca-Cola system drives production, generates income, and supports employment across a spectrum of industries and geographies. Teodora Nenova Managing Partner at Steward Redqueen added: 'Our impact assessment reveals the wide-reaching economic footprint of the Coca-Cola system across Africa. The findings highlight the scale of the Coca-Cola system's local presence and its ongoing contribution to economic opportunity and livelihoods across the continent.' Distributed by APO Group on behalf of Coca-Cola. About The Coca-Cola Company The Coca-Cola Company (NYSE: KO) is a total beverage company with products sold in more than 200 countries and territories. Our company's purpose is to refresh the world and make a difference. We sell multiple billion-dollar brands across several beverage categories worldwide. Our portfolio of sparkling soft drink brands includes Coca-Cola, Sprite and Fanta. Our water, sports, coffee and tea brands include Dasani, smartwater, vitaminwater, Topo Chico, BODYARMOR, Powerade, Costa, Georgia, Fuze Tea, Gold Peak and Ayataka. Our juice, value-added dairy and plant-based beverage brands include Minute Maid, Simply, innocent, Del Valle, fairlife and AdeS. We're constantly transforming our portfolio, from reducing sugar in our drinks to bringing innovative new products to market. We seek to positively impact people's lives, communities and the planet through water replenishment, packaging recycling, sustainable sourcing practices and carbon emissions reductions across our value chain. Together with our bottling partners, we employ more than 700,000 people, helping bring economic opportunity to local communities worldwide. Learn more at
Zawya
2 days ago
- Health
- Zawya
Angola responds strongly to the polio virus emergence
In response to a recent polio outbreak in Benguela province, Angola has launched a polio vaccination campaign. The campaign aims to protect over half a million children and reaffirm the country's commitment to eradicating disease. During the launch ceremony, Dr Fekadu Lemma, the Global Polio Eradication Initiative (GPEI) coordinator in Angola, said, 'This campaign is an act of protection, solidarity, and hope for Angola's future. Polio is not only an invisible threat, but it can also cause permanent physical damage, such as paralysis.' Despite significant progress since the interruption of the wild poliovirus in 2011 and Angola being certified polio-free in 2015, the country now faces a new challenge. The outbreak has resulted in 13 confirmed poliovirus cases in Benguela, Cubal, Dombe Grande, and Bocoio municipalities. In response, the Ministry of Health, supported by the WHO and GPEI partners, is conducting an intensive door-to-door vaccination campaign from 27 to 29 June. The campaign aims to vaccinate over 554,000 children under the age of five. Dr Cátia Katchiuko, the deputy governor for economic and social affairs of Benguela province, reinforced the government's commitment: 'This campaign is a clear demonstration of our dedication to the health and well-being of our children. With the support of our partners, we have made great progress, but we know that the mission is not yet complete. Eradicating polio is a collective struggle — and we are all in this together.' In accordance with the GPEI, the World Health Organization (WHO) has defined five strategic steps to ensure the successful eradication of polio in the country. These steps include: a) Strengthening routine immunization, with a focus on children who have not received any doses; b) Conducting high-quality campaigns with independent monitoring and rapid corrections; (c) Strengthening polio surveillance, including surveillance of acute flaccid paralysis and environmental surveillance; (d) Increasing community involvement by engaging local, religious and traditional leaders; and (e) Ensuring the sustainability of actions by integrating lessons learned from polio into other public health programmes. The vaccination campaign in Benguela province is part of this approach, given the province's importance in the context of the polio outbreak, which poses the highest risk of spreading at national and international levels. This is especially pertinent given the province's population density, history of poliovirus circulation, and its role as a logistics hub for other provinces. Around 5,000 people, including health professionals and community volunteers, have been mobilized for the current polio vaccination campaign, with an investment of approximately $3.6 million, mainly funded by the Global Polio Eradication Initiative through WHO and UNICEF. The WHO Representative in Angola, Dr Indrajit Hazarika, concluded: 'As a father, I know that vaccinating a child is an act of love. It guarantees them a fundamental right and opens the door to a healthier and more promising future.' 'Polio does not respect borders, but neither should our determination. Every child vaccinated brings us closer to a polio-free future. Eradicating polio is possible, but only if all levels of government, partners, and communities work together. We cannot stop now. Our generation will be remembered for having the courage to complete this mission.' Distributed by APO Group on behalf of World Health Organization (WHO) - Angola.
Bloomberg
3 days ago
- Business
- Bloomberg
Oil-Price Surge Helps Angola Put Plan to Borrow From IMF on Hold
Angola won't seek a loan from the International Monetary Fund for now, as Africa's third-biggest crude producer benefits from rising oil prices. The country, which depends on oil for more than 90% of its export revenue, will meet most of its financing needs for the year after also carrying out spending cuts, according to three people who asked not to be identified because the information isn't public. There's no immediate need to seek IMF funding, they said.
Zawya
4 days ago
- Business
- Zawya
African leaders urge US to prioritise investment-driven partnerships at US-Africa Business Summit
At the 17th U.S.-Africa Business Summit held in Luanda, Angola, African leaders called on the United States to pivot from aid-based engagement to investment-led partnerships that promote human capital development, infrastructure, and economic growth across the continent. They also pressed for a review of U.S. tariffs on African exports, advocating a shift toward more equitable and transformative trade relationships. The annual summit, organised by the Corporate Council on Africa (CCA), serves as a key platform for fostering stronger U.S.-Africa business ties across critical sectors such as agribusiness, energy, healthcare, ICT, infrastructure, trade facilitation, and finance. In his opening remarks, Angola's President João Lourenço emphasized the need for a fundamental rethinking of U.S. engagement with Africa, urging American companies to seize emerging opportunities on the continent through long-term, mutually beneficial partnerships. 'It is time to replace the logic of aid with the logic of ambition and private investment,' said Lourenço. 'Africa should be seen as a credible partner—rich in potential, in need of capital and expertise, and eager to collaborate for shared prosperity.' He stressed that Africa is no longer a passive recipient of aid but a dynamic frontier of innovation and enterprise. Echoing similar sentiments, President of the African Development Bank Group, Dr. Akinwumi Adesina, called for a review of the high tariffs imposed on African exports to the U.S. 'What is needed is more trade between Africa and the U.S., not less,' Adesina said. Also speaking at the summit, John Olajide, Chairman of the Corporate Council on Africa, underscored the immense economic potential of a well-structured U.S.-Africa partnership. He called for stronger collaboration across both public and private sectors, while emphasising the importance of regional integration and infrastructure development within Africa. 'With over 2,000 participants from across Africa and the diaspora attending this summit, I'm confident that our nations are well represented. A robust U.S.-Africa business relationship can transform economies, especially as Africa brings vital assets such as critical minerals needed for green technologies,' Olajide said. He urged African leaders to harmonise visa regimes across the continent to unlock the full potential of the African Continental Free Trade Area (AfCFTA). He cited the challenges some African participants faced in securing entry into Angola, while their American counterparts entered with ease. 'We cannot continue to speak of economic integration while we lack easy access to one another. Until we ease visa restrictions within Africa, the goals of the AfCFTA will remain out of reach,' Olajide noted. 'Intra-African trade, cross-border collaboration, and infrastructure development all depend on seamless regional connectivity.' Representing the U.S. government, Massad Boulos, Senior Advisor for Africa, emphasized the Trump administration's commitment to moving beyond aid, toward technology-driven investments across Africa. He reiterated U.S. interest in engaging with stable African nations to foster peace and prosperity. 'President Donald Trump is committed to Africa—particularly to countries free of crisis. Lasting peace is the foundation for sustainable investment and infrastructure development,' Boulos stated. 'A peaceful African environment will unlock new opportunities for U.S. investment in the region.'
