End of an era in Angola?
Angola's controversial leader has relinquished his post, but it's hard to tell whether this will herald a clean break with a murky past for the country and its state oil company
Angola's president, José Eduardo dos Santos, stepped down in August, following nearly four decades in power, during which the country's oil wealth expanded dramatically following the bloody civil war that ended in 2002. This produced little economic benefit for much of the country's still largely impoverished population, but many accusations of rampant corruption. At the time of writing, it was expected that Dos Santos' successor, following the 23 August presidential elections, would be 62-year-old defence minister João Lourenço, the candidate of the ruling Popular Movement for the Liberation of Angola (MPLA). Lourenço vowed to fight corruption, increase transparency and welcome foreign inve
Also in this section
18 December 2024
The December/January issue of Petroleum Economist is out now!
17 December 2024
Structurally lower GDP growth and the need for a different economic model will contribute to a significant slowdown
17 December 2024
Policymakers and stakeholders must work together to develop a stable and predictable fiscal regime that prioritises the country’s energy security and economy
17 December 2024
The incoming administration is expected to quickly change-up the LNG approvals process and boost several major projects to FID. But market fundamentals still matter