Oil demand and anti-corruption reforms fuel Angola’s economic growth
Kenya expected to consolidate its position in the top four
Johannesburg – Angola is on track to become the fourth-largest economy in Sub-Saharan Africa by 2025, driven by increased oil production and higher global prices. According to the latest report from the International Monetary Fund (IMF), the southern African nation is poised to surpass Kenya, marking a significant shift in regional economic dynamics.
The IMF projects that Angola’s economy will expand to $18.9 billion (KSh 3.4 trillion) in 2025, exceeding Kenya’s projected $16.62 billion (KSh 3.16 trillion). While Kenya is expected to maintain a positive outlook and consolidate its position as one of Africa’s leading economies, Angola is preparing to leap forward, joining the ranks of Africa’s top economies alongside South Africa, Nigeria, and Ethiopia.
In addition to its oil sector, Angola is expected to benefit from targeted reforms aimed at boosting agricultural productivity and fostering economic diversification.
These efforts are designed to reduce the country’s reliance on food imports, enhance food security, and generate employment opportunities.
The Angolan government’s focus on anti-corruption reforms and economic restructuring is paving the way for sustainable growth. The combination of improved governance and rising global oil demand is attracting foreign investment and creating new business opportunities.
As Angola unlocks its economic potential, it is not only poised for short-term gains but also building a foundation for long-term development. With reforms advancing across sectors, Angola’s economic transformation stands as a testament to the impact of strategic policymaking in reshaping national growth trajectories.
