Luanda: The choice of the Angolan capital to host the African Financial Industry Summit (AFIS) in November of this year constitutes a sign of international confidence in the economic reforms underway in the country, the Minister of State for Economic Coordination, Jos© de Lima Massano, stated on Thursday in Kigali, Rwanda.
According to Angola Press News Agency, the Minister of State emphasized that the selection of Angola marks a vote of international confidence in the economic reforms underway in the country and signals the emergence of Luanda as a financial hub on the continent. The decision to hold the summit in Luanda is perceived as “a sign of confidence and recognition of the importance of bringing financial centers closer to the emerging growth regions of the continent,” as per a press release accessed by ANGOP.
The Summit is expected to serve as a platform for dialogue among governments, financial institutions, and international investors, fostering partnerships in sectors such as energy, agriculture, industry, and the digital economy. The event aims to contribute to the objectives of African economic integration, promoting sustainable and inclusive growth across the continent.
Jos© de Lima Massano highlighted that the Angolan Government envisions Luanda as a “platform for concrete results, for the creation of high-level networks and for the generation of new opportunities for Africa.” He elaborated on the ongoing reforms in Angola, including the simplification of administrative procedures, improvement of licensing mechanisms, and the strengthening of legal guarantees for investors, which are pivotal to the country’s economic transformation.
Key reforms include changes in the foreign exchange market, notably the opening of the capital account, which have significantly liberalized cross-border financial flows. The privatization process or the opening of capital to private investors in over 100 companies has been identified as a critical move to boost the national economy.
Massano noted the impact of these reforms, with the non-oil sector projected to grow by more than 5% annually in 2024 and 2025, marking the best performance in the last decade and currently accounting for about 86% of the national economy. He remarked that these figures indicate that “economic diversification is a reality.”
The Minister of State for Economic Coordination is actively engaging with financial groups and international investors at the Africa CEO Forum 2026 in Kigali, Rwanda. The forum, themed “The Imperative of Scale: Why Africa Must Embrace Shared Ownership,” is hosting approximately 2,500 participants from 75 countries.
