What’s expected from Mike Pompeo tour of Africa?
The U.S Secretary of State Mike Pompeo is on his official state visit to Africa and as of yesterday was in Angola. Pompeo was promoting more U.S investments into the country whilst also condemning the corruption that has infiltrated Angola. Joining CNBC Africa for more is Rui Oliveira, CEO at BFA Asset Management.
Tue, 18 Feb 2020 11:44:27 GMT
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AI Generated Summary
- Pompeo promoting increased US investments in Angola while addressing corruption
- Angolan economy offers opportunities beyond oil in sectors like mining, telecom, and financial services
- Challenges faced by Angola in 2019 with a decline in GDP, reduced oil production, and negative economic outlook
US Secretary of State Mike Pompeo's official state visit to Africa has included a stop in Angola, where he is promoting increased US investments while also addressing the issue of corruption within the country. Pompeo has engaged in discussions with Angolan President and government officials, as well as business leaders to explore potential opportunities for collaboration. The Angolan economy, known for its oil exploration prospects, also presents opportunities in non-oil sectors such as mining, telecom, and financial services. As global markets react to the recent announcement by Ratingsation CS&P downgrading Angola's economic outlook from stable to negative, investor sentiment remains cautious amidst challenges faced by the country in 2019 including a decline in GDP and reduced oil production. Despite these obstacles, there have been positive developments in sectors like mining, transportation, and construction, indicating potential growth in Angola's economy in 2020. Amidst global concerns over the coronavirus outbreak, Angola has not reported any cases of the virus, but the government has implemented strict security measures and public awareness campaigns to prevent its spread. While addressing the importance of addressing the COVID-19 threat, the Angolan government remains focused on driving economic growth and job creation initiatives.