Angola is among the top three African countries with the highest annual external debt servicing costs, exceeding 10 billion US dollars each year. This information is detailed in the report “Financing the Africa We Want,” recently published by the Mo Ibrahim Foundation. These debt obligations have significantly limited public investment in key sectors such as health, education, and climate change adaptation.
The vice-president of the Popular Movement for the Liberation of Angola (MPLA), Mara Quiosa, acknowledged the challenge and stated that the country is working to reduce its external dependency. “We want an Africa that is increasingly prosperous, more engaged, and certainly less dependent on other continents,” she said in an interview with Lusa.
Quiosa participated in the Ibrahim Forum, held from 31 May to 2 June in Marrakesh, Morocco’s fourth-largest city. The event focused on the theme “Leveraging Africa’s Resources to Bridge the Financial Gap” and addressed, among other issues, the impact of decreasing external aid from the United States and Europe. The forum gathered politicians, academics, and activists, who called for greater responsibility from African leaders in managing the continent’s natural and financial resources. The MPLA vice-president supported this view, arguing that “Africa must be built by Africans,” and that it’s time to “stop depending on other continents.”
She emphasized that Angola does not rely solely on its natural resources: “We have more than just natural resources — we have human resources, human capital, which is ultimately our greatest asset,” she stated.
In this regard, she highlighted the Angolan Government’s efforts to diversify the economy, aiming to reduce dependence on oil. “The goal is to become less and less dependent on oil, as has been gradually happening,” she explained. According to Quiosa, investment in agriculture and infrastructure is a top priority to achieve this. “We are increasingly investing in fertilizers, arable land, mechanized agriculture, and large-scale farming,” she said, pointing out Angola’s competitive advantages in these sectors.
These agricultural investments have enabled increased exports to Europe, the Americas, and other African countries, while also reducing imports of goods such as eggs. “We must break free from the dependency we had on importing so many essential products,” she concluded.
The Mo Ibrahim Foundation was established in 2006 by the Sudanese businessman Mo Ibrahim, with the goal of promoting good governance and leadership in Africa.
Source: Diário Económico
