Luanda, June 24, 2025 (Lusa) - The Naval Group announced on Tuesday that it will invest more than $220 million (€190 million) in Angola over the next two years. It said it had seen significant improvements in the country’s business environment.
The financial director of the business group, a conglomerate of companies operating in the trade, industry, and services sectors, stated that the group has invested more than $250 million (€215 million) in Angola over its 20-year history.
Speaking to Lusa on the second day of the 17th US-Africa Business Summit, which concludes on Wednesday in Luanda, Eduardo Barbosa stated that the group is structuring three new projects and plans to invest $220 million over the next two years.
“The group is focused on verticalising its projects, we have three projects in the pipeline and investors expect to inject more than $220 million in the country over the next two years,” he said.
Regarding the summit, which brings together African and US government officials and investors in the Angolan capital, the businessman considered it a great opportunity to bring foreign investors to see what Angola has to offer and the country’s potential.
“I believe that anyone who comes and sees other industries operating here will be impressed, and this forum also demonstrates Angola’s potential,” he said.
Barbosa also noted that the business environment in Angola presents challenges but has seen significant improvements compared to 10 years ago.
“Every place offers opportunities for improvement, and in the last 10 years, the country has improved a lot; we see that progress and continue investing in Angola. The environment continues to improve, and much remains to be done, but a lot has been done in infrastructure (…),” concluded the financial director of the Naval Group.
Angola's President João Lourenço inaugurated Refitec - Fábrica de Óleos Alimentares (Food Oil Factory) in March, located in the Boavista area of Luanda, with a capacity to refine and process 500 tonnes per day of palm oil, soybean oil, sunflower oil and other vegetable fats, an investment by the Naval Group.
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