Private investment drives Angola’s 5.32% economic growth

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Lagos – The Private Investment and Export Promotion Agency is emerging as a strategic force behind capital attraction and economic diversification

By Pedro Ivanov Neto
PhD in Human Resource Management

Angola’s economy expanded by 5.32% in the first quarter of 2026, according to national accounts data, reinforcing evidence that the country’s non-oil sectors are becoming increasingly important drivers of economic growth.

The latest figures released by the National Statistics Institute (INE) show that the non-oil economy grew by 6.22%, while the oil sector recorded a slight contraction of 0.21%, highlighting a gradual but significant shift in the structure of Africa’s second-largest oil producer.

The results reflect the impact of economic diversification policies, private-sector investment initiatives and production-enhancement programmes implemented by the Angolan government over recent years.

At the centre of this transformation stands the Private Investment and Export Promotion Agency (AIPEX), the institution responsible for attracting both domestic and foreign investment into sectors considered strategic for Angola’s long-term development agenda.

AIPEX-Backed sectors lead economic expansion

A closer examination of sectoral performance reveals that some of the strongest growth rates were recorded in industries that have been prioritised by AIPEX as part of its investment promotion strategy.

The Information and Communication sector expanded by 27.63%, making it the fastest-growing segment of the economy. Transport and Storage increased by 16.12%, while Fishing and Aquaculture grew by 8.73%. Electricity, Water and Sanitation advanced by 8.15%, and Manufacturing Industry posted growth of 7.32%.

These sectors have been at the forefront of investment promotion campaigns targeting domestic entrepreneurs, international investors, development finance institutions, sovereign funds and multinational corporations seeking opportunities in Angola.

The alignment between investment promotion efforts and actual economic outcomes suggests that Angola’s capital-attraction strategy is beginning to translate into measurable gains across productive sectors.

A new phase of productive investment

Over the past several years, AIPEX has intensified efforts to market opportunities in agro-industry, logistics, transport, digital economy, energy, manufacturing, tourism and non-oil exports.

The objective is clear: channel investment towards activities capable of generating employment, increasing domestic production, reducing import dependency and creating new sources of national revenue.

The latest economic data suggest that these investments are now producing tangible results. New projects are beginning to contribute to economic activity, strengthening productive capacity and expanding the role of the private sector in national development.

Economic analysts argue that if current trends continue, Angola could accelerate its structural transformation, gradually reducing the historic dependence on hydrocarbons that has characterised the economy for decades.

Agriculture and logistics reshape Angola’s economic profile

INE data further indicate that Agriculture and Forestry now account for 20.52% of nominal GDP, making the sector the largest contributor to the national economy.

Commerce and Vehicle Repair Services represent 18.76% of GDP, while the oil sector accounts for 15.78%, underscoring the growing weight of non-oil activities within the economic landscape.

The figures illustrate the steady rise of sectors linked to agriculture, trade, industry and logistics—areas that have increasingly benefited from investment promotion programmes coordinated by AIPEX.

The agency has also been actively promoting opportunities linked to the Lobito Corridor, a strategic infrastructure project expected to strengthen Angola’s position as a regional logistics hub and facilitate greater economic integration across Southern and Central Africa.

Growth reinforces investor confidence

For international markets, Angola’s first-quarter performance sends a positive signal regarding the country’s economic trajectory.

Beyond the headline growth rate of 5.32%, investors are increasingly focused on the composition of growth itself. The latest figures suggest that expansion is becoming less dependent on oil and more closely tied to productive sectors capable of generating sustainable long-term value.

In this environment, AIPEX continues to play a pivotal role in promoting Angola’s investment story, attracting productive capital and identifying new business opportunities that can support economic diversification.

The latest INE indicators point to an economy that is becoming more diversified, competitive and resilient—one increasingly supported by private investment, higher domestic production and the expansion of non-oil sectors. For Angola, the challenge now is not only to sustain growth, but to transform it into broad-based prosperity capable of delivering lasting economic gains.