This is part 5 of a 6-part series.
Angola’s President João Lourenço, at the helm of Africa’s second-largest oil producer, agreed to take on the ‘ mission impossible’ of reforming Angola’s economy. The problem is, unlike agent Ethan Hunt, the fictional character played by Hollywood actor Tom Cruise, he is unsure of his ability to succeed.
Since he took office in 2017, Lourenço – the successor of José Eduardo dos Santos and fellow member of the political party Movimento Popular de Libertação de Angola (MPLA) – has faced enormous obstacles.
While acknowledging that Lourenço is facing a very difficult situation and inherited a complicated legacy, we had hoped for better results, especially in the social sphere.”
The year 2020 marked the country’s worst recession on record (the economy shrank 5.1%, according to government figures) since independence and its fifth consecutive year of reporting
There's more to this story
Get unlimited access to our exclusive journalism and features today. Our award-winning team of correspondents and editors report from over 54 African countries, from Cape Town to Cairo, from Abidjan to Abuja to Addis Ababa. Africa. Unlocked.
Already a a subscriber Sign In
Also in this in Depth:
Deep DrillZimbabwe’s first oil-gas well signals new era for foreign investment, says Invictus Energy CEO Successful drilling for oil, gas and helium in northeast Zimbabwe shows that the country is open for business, Invictus Energy CEO Scott Macmillan tells The Africa Report.
financing optionsChina loans to strain African debt market liquidity – Moody’s Rating agency Moody’s warns that some loans, particularly Chinese ones, are coming due in a market where financing conditions have deteriorated. We explain.
repositioningNigeria: Buhari commissions world’s largest single-train refinery President Muhammadu Buhari attended the commissioning of the Dangote Petroleum Refinery and Petrochemical Plant in Lagos on Monday – the country’s first privately owned crude oil refinery in Nigeria, and the world’s largest single-train refinery.