Luanda:Political stability and a favorable business environment are essential for securing private-sector participation and attracting international investment to African countries, According to Minister of Finance, Vera Daves de Sousa. Speaking at the 6th African Financial Industry Summit (AFIS) in Luanda, the minister emphasized the importance of consolidating economic fundamentals to strengthen market confidence and drive growth, particularly in the non-oil sector.
According to Angola Press News Agency, Vera Daves de Sousa identified key pillars of economic sustainability, including controlling inflation, ensuring public debt sustainability, and achieving positive growth in non-oil Gross Domestic Product (GDP). She noted that Angola has seen improvements in political stability, the business environment, inflation control, debt sustainability, and non-oil GDP indicators in recent years.
The minister also highlighted efforts to digitalize public administration to enhance public service accessibility and expand the tax base. Furthermore, she underscored the importance of developing strategic infrastructure, such as roads, bridges, railway networks, and energy systems, through Public-Private Partnerships (PPPs) and capital markets to attract more private investment.
Vera Daves de Sousa stressed the necessity of institutional predictability and stability to protect the business environment from disruptions due to political cycles. She called for a patriotic vision and commitment from investors to support high-growth sectors like agriculture, tourism, and light industry, which are vital for regional integration and cross-border trade in Africa.
The African Financial Industry Summit, themed 'Making Capital Count Accelerating Growth Through African Finance,' is being held in Angola for the first time, marking the first occurrence in Southern Africa and in a Portuguese-speaking country. The event is organized by the Jeune Afrique Media Group in collaboration with the International Finance Corporation (IFC), part of the World Bank Group.
