Angola Looks to Diversify from Crude with Windfall Oil Revenues

Angola has accelerated efforts to diversify its economy away from heavy dependence on oil by using this year’s windfall oil revenues to fund reforms and investments in transport corridors, minerals, banking, and tourism industries, according to Citigroup. “We’re definitely seeing a lot of activity and it has the benefit of longer-term political stability, economic stability, which is making it more attractive for foreign direct investment, infrastructure projects, and other longer-term investment,” Citi’s…