The Angolan oil company Poliedro plans to make a strong push into the mining and logistics sectors and aims to have a presence in at least three to four new oil blocks within the next five years.
This information was shared by the company’s CEO in an interview with The Business Year magazine.
According to Ulanga Gaspar Martins, the company started in oil, then moved into mining, and now, “we are figuring out how to channel the revenues from these non-renewable industries into the rest of the economy.”
The executive emphasized the strategic role of logistics. “Being involved in mining allows us to reinvest strategically and create a dynamic where revenues circulate within the economy, rather than only through new sources of export income. We are already exposed to the global economy through oil, and we will continue to grow there. Our goal is to become operators within five years and have a presence in at least three to four new blocks. However, within Angola, the question is how we can use these revenues. That’s where logistics and agriculture come in, and they are profitable sectors in their own right,” he said.
When asked about Poliedro’s newest division, responsible for international operations, Ulanga Gaspar Martins stated that one of the main objectives in the oil business is for the company to become an operator and expand into new blocks, although this requires financing.
“The banking and financial sector in Angola, and even in Africa more broadly, still cannot mobilize the kind of sums we need. Our internal analysis showed that over the next five to six years, we will need to invest about US$ 2 billion in projects and acquisitions, and we felt we needed a presence outside the country to mobilize that capital. That’s why we set up our subsidiary, Poliedro International, in Mauritius. One of the main objectives of this company is to raise financing, as Mauritius is the Dubai of Africa,” he concluded.
Source: Líder Magazine
