Angola- The Power and the Diamonds


Uniglo welcomes you to our blog. It has been a tumultuous year, we have been busy facilitating many exciting changes for 2019 to offer a broader spectrum of services to our clients in terms of payroll, taxes and mobility.

 

We have expanded our services into Australia and using our Australian Entity as platform to expand into South East Asia, but I digress as this blog is actually about Angola’s booming industries other than oil.

 

Brief History

Angola was the popular slave trade market for the Portuguese and Dutch during the colonial era. Portugal administration discovered oil reserves in Angola in 1955.  Angola was always been synonymous with oil and whilst Oil is still the top contributor in Angola, Diamonds and Power Generation are rapidly becoming expanding sectors.

Carats upon Carats

Diamonds were discovered in 1912 and only in 1986, did Angola truly find out the extent of their diamond producing capability. There is an urban legend in Luanda that states that the government were extending the runway of the Quatro Feveiro Airport and as they were digging the road, many diamonds were literally appearing in the top layers of soil. The government allegedly stopped plans to extend the runways and ploughed straight into developing the industry for mass export of diamonds.  Angola’s largest diamond was discovered in January 2018- a 46 carat Pink diamond!

The government is concerned about the effect diamond mining is having on the environment and are looking to engage with expat experts on how to improve the mining sectors.

Renewable Power

Angola’s National Director for Renewable Energies of the Ministry of Energy and Waters, Sandra Cristóvão recently said that sites for several wind power projects have already been identified, and that solar and biomass are to be mainly deployed in rural areas. Overall, the Angolan government is targeting the installation of around 800 MW of renewable energy capacity by 2025.This additional capacity would help increase the population’s access to electricity, which is currently around 40%. By 2025, Angola hopes to reach an access rate of 65% and a total installed capacity of approximately 10 GW.

What does this mean?

Many expats will be hired for these power generation plants and the mining sector. We have a fully compliant partner in Angola, who will employ local and expat contractors under his entity and officiate the work visa process as well as registration and payment with taxes.

For any more information on Angola, please feel free to contact u2us@uniglo-financial.com

Have a great weekend!