Category: Africa

  • Angola to Host Africa’s Largest Infrastructure Financing Summit in October

    By Staff Reporter

    The African Union Development Agency (AUDA-NEPAD) and the African Union Commission (AUC), in partnership with the Government of Angola, will host the continent’s largest infrastructure financing gathering from October 28 to 31, 2025, in Luanda.

    The summit builds on the momentum of the 2023 Dakar Infrastructure Financing Summit and will focus on mobilising capital to bridge Africa’s infrastructure gap, which exceeds US$100 billion annually. Key priorities include financing cross-border energy, transport, logistics, and digital projects under the African Union’s Agenda 2063 and the Programme for Infrastructure Development in Africa (PIDA).

    Angola’s President João Manuel Gonçalves Lourenço, the current AU Chair, has made infrastructure development central to his continental agenda. At the AU handover ceremony earlier this year, he emphasised the need to “mobilise all available financial resources” to drive Africa’s trade, industrialisation, and digital connectivity.

    The Luanda Summit will feature curated deal rooms, investment pitches, and project showcases. Flagship corridors such as the Lobito Corridor, LAPSSET, and the Dakar–Bamako–Djibouti route will be presented as integrated models of trade and industrial growth.

    Energy access will be a major theme, with more than 600 million Africans still without electricity. The summit will highlight financing pathways for the African Single Electricity Market and the Continental Power Systems Master Plan, estimated to require US$1.3 trillion by 2040. Sustainable energy, digital innovation, and water security projects will also take centre stage, alongside efforts to attract climate-aligned capital and philanthropic investment.

    The event coincides with the mid-term review of PIDA’s Priority Action Plan, which will assess progress and refine strategies for fast-tracking projects. Domestic capital mobilisation will also be on the agenda, with discussions on leveraging Africa’s US$70 billion in annual pension and sovereign wealth funds for infrastructure.

    As South Africa takes over the G20 Presidency in 2025, the Luanda Summit is expected to amplify Africa’s voice on the global stage, particularly on infrastructure financing, energy access, and climate finance.

    Registration for participants, exhibitors, and partners will open in the coming weeks, with further details to be shared on the official event platform.

     

  • Angola to polish most diamonds locally by 2027

    Angola plans to polish most of the diamonds it produces domestically by 2027 to boost revenue and create more jobs in the sector.

    New polishing and cutting facilities are being built in hubs such as Saurimo, where most gems are mined, state-owned diamond company Endiama board member Laureano Receado said on Thursday.

    “We are building capacity so that most of Angola’s production is polished in Angola,” Receado said in comments broadcast on state-run RNA radio station.

    Angola, Africa’s second largest diamond producer, currently exports most of its rough stones to the United Arab Emirates and Belgium, according to Endiama.

    The country’s output is forecast to reach at least 17 million carats a year by 2027 from about 14 million today, with new mines such as Luele expected to push production even higher, Receado said.

    Angola holds an estimated 800 million carats in reserves, enough to sustain output for decades.

    Top diamond producers across Africa are seeking to bolster the revenues they get from the gems to compensate for lower demand due to competition from lab-grown synthetic stones and weaker Chinese consumption.  Bloomberg