EU-Angola investment pact starts

The EU-Angola Sustainable Investment Facilitation Agreement (SIFA) officially came into force on Sunday, marking the EU’s first investment facilitation agreement.

SIFA aims to attract foreign investments to Angola by creating a more transparent, efficient, and predictable business environment, crucial for achieving sustainable development goals.

Key measures include enhancing investment regulation transparency, promoting e-government services, and boosting stakeholder involvement.

The agreement supports investments in sectors like green energy, agri-food, digital innovation, and critical raw materials, aiding Angola’s economic diversification.

Angola is the EU’s fifth-largest investment destination in Africa, with €21.7 billion in EU investments in 2022.

The SIFA aligns with the EU’s broader Africa strategy, complementing the €150 billion Africa-EU Global Gateway Investment Package. A joint committee will oversee SIFA’s implementation and strengthen EU-Angola investment relations.