Generalizes on the best strategy to enter the market, e.g., visiting the country; importance of relationships to finding a good partner; use of agents
Angola offers medium to long-term business opportunities for U.S. companies in top prospect sectors, especially for those with established experience doing business in Africa. Given its challenging business environment and the consistent attention needed to develop a market presence, companies should consider the necessary time and financial commitments required to succeed in Angola. Long-established presence by Portuguese companies in Angola provides opportunities for collaboration but also poses stiff competition for new market entrants. A financially solid Angolan business partner knowledgeable in local business procedures, and well connected to the target industry with established clients is essential to business success. Larger international companies often establish independent operations subject to Angolan regulations for investing in the country (see details in the “Investment Climate” section of this report – Limits of Foreign Control). The current investment law passed on April 19, 2018 eliminates the requirement for an Angolan citizen to participate in any foreign private investment in Angola. Further, the law provides incentives to companies investing in Angola, and it maintains minimal foreign direct investment (FDI) screening processes. In all cases, companies should perform thorough due diligence on potential business partners and structure contractual arrangements conformant to U.S. and Angolan law. U.S. companies and individuals are obliged to comply with the Foreign Corrupt Practices Act.
The U.S. Commercial Service in Angola offers services to assist U.S. companies in understanding market opportunities, qualifying potential business partners, and conducting necessary due diligence. Referrals to Angolan business service providers such as law firms are also available.