Angola is investing in improved phone and wireless networks on land, sea and in space to attract foreign investment and diversify away from oil, National Director of Telecommunications.
The southwest African nation’s biggest projects include a $300 million Russia-built satellite scheduled for 2017 and a $200 million sub-sea cable across the Atlantic Ocean to Brazil that will start to be laid next year. Angola also wants to add fiber optic cable to increase mobile-phone coverage to 85 percent of the population from 60 percent within two years.
“We encourage international companies to join with local companies and we’re ready for investors to set up operations now,” the Director of Telecommunications said. “This will create not only financial wealth but social wellbeing through increased jobs and by fighting poverty.”
Angola, recovering from a 27-year civil war that ended in 2002, is rebuilding infrastructure to diversify away from the crude oil that accounts for 97 percent of exports and 75 percent of government tax revenue. The government wants to promote opportunities in mining, industry and agriculture while improving the efficiency and competitiveness of its telecommunications industry.
Foreign investment this year in Angolan industries excluding oil was $1.9 billion by the end of September, compared with $2.3 billion for all of last year, Maria Luisa Abrantes, chairwoman of the National Private Investment Agency.
source : www.bloomberg.com
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