Angola
One year after the election of President Joao Lourenco, Angola is still waiting for the economic miracle he promised on the campaign trail.
Small businesses are yet to reap from the benefits of the long awaited change in the oil rich nation.
“He (Angolan President Joao Lourenço) has been in power for a year. He has made some reforms. He has done more politically. On the economic side, we see some small changes in the fight against corruption. But even with that, we don’t feel the effects of his measures,” said Joao Domingos a market vendor.
Lourenco’s package of reforms to aid rebound the stagnating economy and attract foreign investment have so far been slow to bear fruit.
“Here in Angola you have to create so many opportunities for the foreigners because so many countries without the foreigners they can’t live. You still have to create much opportunities for them so that they will invest in your country,” said an illegal immigrant from Nigeria.
The government has promised a return to economic growth next year, but that will largely depend on a rise in oil prices.
40 percent of Angolans live below the poverty line and unemployment is widespread.
AFP
Go to video
Nigerians struggle with fuel shortages as queues form across major cities
02:29
DRC: concern over the potential development of oil drilling
Go to video
Activists urge Nigeria to delay Shell's $2.4 billion sale of assets in deeply polluted Niger Delta
00:59
Libya: Two oil fields closed amid protests in Oubari
Go to video
Ivory Coast will deliver 50 million liters of gasoline monthly to Guinea
11:07
Countries fret over prospect of wider Red Sea violence [Business Africa]