While
inequality grows, Sino-Russian bloc is ready to take over the
country
“Despite
being the fifth largest economy in Africa, ordinary Angolans have
seen little change in their standard of living. Only 37.8% of
country's 21 million people have access to electricity. While about
half of the population has access to safe drinking water, this number
falls to 34% in rural areas ...”
“There
are few jobs for the unemployed, mostly under 25 years, who make up
60% of the population.”
“Angola
is Africa's second biggest oil producer after Nigeria. [...] Last
year, according to the US Energy Information Administration, an
agency that provides statistics and analyses on energy, Angola
produced 1.85 million barrels of petroleum per day, and oil revenues
could top $60 billion this year, [...] But as with other
oil-producing countries in Africa, oil has not proved to be a benefit
to Angolans. If anything, say analysts, it has produced few jobs,
increased inequality and allegations of corruption.”
“Oil
production and its supporting activities contribute about 45% to the
nation's gross domestic product (GDP) and 80% to government revenues.
With little diversification, the Angolan economy has limited
investment and job opportunities, and generates growth only for a
small group of elites, economists say. In fact, in terms of the
composition of its exports, Angola is the world's second most
concentrated economy after Iraq, ...”
“Rafael
Marques de Morais, an Angolan journalist, human rights activist and
anti-corruption campaigner, recently filed a criminal complaint
against two diamond mining companies and their directors, including
top military officers. In response, authorities labelled him an
'official suspect' and officials from some mining companies have
accused him of defamation. Isabel dos Santos, the billionaire
daughter of the Angolan president, is said to be one of the main
beneficiaries of the diamond trade in Angola, according to an article
this year in Forbes business magazine.”
“Chinese
investors are heavily involved in Angola's large-scale public works
such as roads, rails, and other infrastructure (see Africa Renewal
January 2013). But critics say these investors do not create
sufficient jobs because they bring most of their workers from China.
In 2008 alone, the Angolan consulate in China issued more than forty
thousand visas to Chinese workers, reports the bimonthly global
affairs journal, World Affairs. For example, the China International
Trust and Investment Corporation employed 12,000 Chinese workers
and only a handful of Angolans during the peak of the Kilamba Kiaxo
social housing development project in Luanda. In addition, the
journal states that while the majority of Chinese in Angola work in
the construction sector, thousands later branch out into real estate,
retail, street hawking, etc.”
“This
year, Angola's central bank plans to de-dollarize the foreign
exchange market to limit the use of foreign currency in local
transactions. In the past, most oil receipts were conducted
offshore; the new laws require transactions to be handled onshore.”
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