Angola sees oil crisis as opportunity to diversify

21 Jul 2017 19:00pm
WINDHOEK, 21 JUL (NAMPA) – Governor of Angola’s central bank, Banco Naçional de Angola (BNA), Valter Filipe da Silva said the oil crisis in his country is an opportunity for them to diversify its economy by strengthening bilateral agreements with Namibia.
“We want to diversify our economy mainly in the agriculture sector and industrial park,” Da Silva told President Hage Geingob in a meeting at State House on Friday.
Da Silva said Angola would depend on Namibian livestock (cattle) farmers to cooperate with Angolan meat processing plants.
“Currently we are importing animals from Namibia for meat processing plants in Angola because we are trying to stop the importation of meat from Brazil,” he said.
Another challenge Da Silva noted is farming in Angola.
“Due to the proximity between Angola and Namibia, we understand that we can learn from those in Namibia that know-how to run the farming business, which is why we need to strengthen our bilateral agreements” he explained.
In his response, Geingob said the two countries have to look at regional integration and value chains.
“We are being accused of not trading amongst ourselves. The reason being that we have similar commodities. That is why in the Southern African Development Community (SADC) and the African Union (AU), we emphasise regional integration so that we can cooperate as Africans and seek synergies,' Geingob stressed, while placing emphasis on the exchange of skills.
On the Currency Exchange Agreement between the two central banks of Namibia and Angola, Geingob said this will come handy during the current financial crises that both Angola and Namibia face.
“We politicians are clear, it’s others that must be convinced. What we are doing should convince them that we mean business to help each other as we did during the struggle,” said Geingob.
Da Silva was accompanied by a delegation of four other officials.
The meeting was also attended by Finance Minister, Calle Schlettwein, Bank of Namiba (BoN) Governor Ipumpu Shimi and other BoN representatives.