Published
December 02, 2024
This week, President Biden will become the first U.S. President to visit Angola, a nation on a positive economic trajectory. Following a devastating 27-year civil war that ended in 2002, Angola has been on a steady path of economic stability and governance reforms.
The 2017 election of President João Lourenço marked a new era of engagement with the United States, one focused on furthering U.S.-Angola commercial ties and economic reforms. The U.S. Chamber’s U.S.-Africa Business Center and our in-country affiliate organization, AmCham Angola, convened a business roundtable in 2018, which crucially supported these efforts. At the roundtable, President Lourenço notably outlined his vision for a "New Angola," emphasizing business reforms and highlighting Angola's commitment to economic diversification.
U.S.-Angola Strategic Initiatives and Collaborations
In response to President Lourenço’s vision, the U.S. Chamber and AmCham Angola launched the U.S.-Angola Working Group in 2021 to provide a platform for supporting additional policy reforms to expand opportunities in agriculture, digital economy, energy, financial services, and health and to ensure that U.S. companies are well-positioned to seize opportunities in Angola's evolving market and economic diversification agenda.
The Chamber hosted President Lourenço in September 2021, along with senior U.S. Government officials to witness a deal signing between the Government of Angola and Sun Africa regarding a series of investments in renewable energy projects in Angola. The following year, on the margins of the White House's U.S.-Africa Business Forum, the U.S. Chamber and AmCham Angola also organized a Presidential Roundtable where President Lourenço highlighted the new priorities of his government regarding economic diversification, industrial development, and job creation.
Since 2023, several senior U.S. officials have traveled to Angola. The Chamber has also provided business insights and organized briefings for U.S. leaders who champion a closer partnership.
The Lobito Corridor: A Catalyst for Economic Diversification and Regional Integration
President Biden's visit will highlight the focus on the Lobito Corridor, a transformative infrastructure project connecting Angola, Zambia, and the Democratic Republic of the Congo. It is a testament to the collaborative efforts of the U.S. government, the European Union, and African partners to drive economic diversification and regional integration. As a co-host of the 2022 U.S.-Africa Business Forum, where U.S. government support for this initiative was announced, the Chamber has been actively working with businesses and governments to bring this strategic economic corridor to fruition.
The top priority consistently raised by the African leaders participating in Lobito Corridor talks is the question of generating greater economic diversification, opportunity, and job growth in their respective economies. The U.S. Chamber has been leading these dialogues in all three countries involved in the Lobito Corridor and its potential extension to the Indian Ocean, most recently hosting leaders and business partners from Angola, the Democratic Republic of the Congo, and Zambia, as well as a separate engagement with Tanzania, for discussions on the periphery of the 79th Session of the United Nations General Assembly meetings in September.
This year, the U.S. Chamber has convened or collaborated to host three investor dialogues on the Lobito Corridor with participation from U.S. and regional business executives, the governments of Angola, DRC, and Zambia, the White House Office of Partnership for Global Infrastructure and Investment (PGI), African Finance Corporation (AFC), and the African Development Bank.
Building on Shared History and Future Opportunities
The U.S. and Angola share a cultural and ancestral history dating back to the 1619 arrival of the first enslaved Africans brought from Melanje province, Angola, to present-day Hampton, Virginia.
This week’s forward-looking visit provides a unique opportunity to build on recent engagements by African diaspora leaders, including representatives of the Tucker family, City of Hampton officials, and Sister Cities representatives, to further expand economic diversification through diaspora ties – something the Chamber has vowed to support through its Advance with Africa program.
President Biden's visit to Angola is more than a diplomatic milestone; it is a catalyst for deeper economic collaboration and mutual prosperity. The U.S. Chamber remains dedicated to supporting this partnership and ensuring that U.S. businesses play a key role in Angola's economic transformation. As we look to the future, the opportunities for growth and collaboration promise a brighter, more prosperous path for both nations.
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