A Forvis Mazars Group presented the report in Cape Town (South Africa). “Powering Africa’s Future”, which analyzes the main energy trends on the continent and positions Angola as one of the most promising countries in the transition to cleaner energy.
The study emphasizes that Angola It has made significant progress in diversifying its energy mix, increasing investment in renewable sources, while remaining one of the largest oil and gas producers in Africa.
According to the report, the country has approximately 9 billion barrels of oil in proven reserves and 11 trillion cubic feet of natural gas. In 2024, Angola was the second largest oil producer on the continent, accounting for 18% of African production, behind... Niga © ria (22%) and ahead of Argelia (16%). The oil sector continues to be the main pillar of the national economy, contributing around 60% of GDP and employing 36 workers. Between 2019 and 2024, 32 oil concessions were awarded, totaling more than 18 billion USD in investments.
In the electricity sector, the country has accelerated the energy transition. The Laúca dam. (2,07 GW) It reached full operation in 2023, while Caculo-Cabaça (2,17 GW) is poised to become the largest hydroelectric power plant on the continent. Currently, more than 70% of the energy produced in Angola is hydroelectric, placing the country among the regional leaders in clean energy. Installed capacity reached 6,3 GW in 2024, with growth targets to 9,64 GW by 2027, as part of the strategy. "Angola Energy 2025"which also includes solar, wind and biomass projects.
Although countries like Nigeria, Algeria, and Egypt lead in total production and refining volume, Angola stands out for its high hydroelectric potential and consistent efforts in the energy transition, assuming a strategic role in Africa's energy future.
To Paulo Moreira, Director-General of Forvis Mazars Angola“In a rapidly transforming sector, our clients seek clarity and confidence.” The executive states that the company's mission is to transform regulatory complexity into sustainable opportunities. He further adds that “Angola is experiencing a moment of profound change in the electricity and renewable energy sector, and the country has all the conditions to establish itself as a regional leader in clean energy production and in attracting sustainable investment.”
Source: Newspapers
