Angola’s Minister of State for Economic Coordination, José de Lima Massano, described the recently concluded United States-Africa Business Summit as a “unique moment” for Africa, calling attention to the continent’s potential and urging a shift from public debt to private investment in infrastructure development.
Speaking at the close of the summit in Luanda on June 25, Massano praised the agreements signed and the level of international participation.
“More than these agreements, it is above all the visibility that is given to the countries, particularly Angola,” he said.
“The opportunities, the challenges, and the African will to transform, to make things happen.”
The summit brought together over 1,500 delegates, including 490 Angolan companies, 202 African businesses, and 73 American firms.
Nine legal agreements were signed across sectors such as agriculture, infrastructure, health, education, and digital inclusion.
Massano hailed the international presence as evidence of Angola’s capacity for global engagement and coordination.
He placed particular emphasis on the strategic importance of the Lobito Corridor, a railway project linking the Angolan port of Lobito with the Democratic Republic of Congo and Zambia.
“The corridor is already in place,” he said.
“What we need now are quality projects that can capture the financial resources that are being made available.
These are not resources to finance public investments; they are essentially resources to support private initiatives.”
A major outcome of the summit was an agreement between the Angolan Sovereign Fund and Israeli entrepreneur Haim Taib to launch an independent investment platform focused on the Lobito Corridor.
The initiative aims to mobilize $1 billion, starting with a $100 million initial investment.
Massano also warned against the dangers of increasing public debt.
“More debt could take us to a point where our ability to service that debt starts to be questioned,” he said, stressing the need for legal and policy reforms to attract private capital.
Referring to recent changes in the energy sector that allow private transmission services, Massano acknowledged the complexities of balancing market pricing with accessibility.
“If we have a price below the market, it will be difficult to attract this investment,” he noted.
“We have to find a balance… and that is the path Angola also intends to take.”
About The Author
