Why Angola is a Good Test Case for Smarter U.S. Investment in Africa

The U.S.–Angola partnership has evolved toward large-scale infrastructure and investment cooperation. What has driven this shift, and what does it reveal about how the U.S. is redefining its economic engagement with Africa today?

The U.S.–Africa partnership is entering a new phase.  To understand how the relationship is evolving, Angola is a great place to start. For years, engagement was often fragmented, focused on individual projects rather than a long-term vision. What we’re seeing now is a transition toward clear plans better integrated with large investments through initiative like the Lobito Corridor. This project integrates railways, logistics corridors, power generation and digital connectivity – the kinds of investments that are well placed to change an economy’s trajectory.  

Several reasons explain this shift. First, African leaders like President Lourenço in Angola have been very clear that what they want is partnership and that they are serious about putting in place the right conditions to realize their countries’ potential. Angola has made tough reforms — on transparency, debt, and diversification — and that’s sent a strong message that it’s serious about attracting long-term investment.  

Second, both the U.S. Government and private sector companies have increasingly recognized over the last several years the importance of shared prosperity between the U.S. and Africa.  The potential of the U.S.-African relationship and the importance of one to the other has never been more important, even in a time of an American First trade strategy. Building shorter, more reliable supply chains, whether for food, energy, or critical minerals, is just as much about shared potential and prosperity as it is geopolitics.    

To me, this all signals a more mature U.S. approach, one that is focused on “investing with Africa.” Angola is a powerful example of the potential of this relationship, as we saw this summer when CCA hosted our annual U.S.-Africa Business Summit in Luanda. 

Access to financing remains a defining factor in unlocking Africa’s full potential. From your perspective, what practical mechanisms – such as blended finance, corridor-based investment platforms, or local partnerships, can drive the U.S. private sector to engage more in Angola and across Africa? 

Access to capital is the question I get most often, and rightly so, because it’s the hinge on which everything turns.  

In my experience, the most promising path forward isn’t just one mechanism, but a combination of them. Blended finance is of course part of it, using public and philanthropic funds to absorb early-stage risk so that private investors can come in with confidence. It’s how you turn something that looks “too risky” into something truly investable. I’ve seen this model be particularly effective in sectors like agriculture and health, where the social return is high, and the commercial potential grows as ecosystems mature. 

Corridor-based investment is another piece of the puzzle. If you think about something like the Lobito Corridor – rail, port, energy, logistics – it’s not just one project; it’s an ecosystem. When we invest in that ecosystem holistically, the corridor becomes commercially self-sustaining. You start seeing small agribusinesses financing new silos, or logistics firms building hubs, because the backbone infrastructure gives them confidence to grow. 

And then there’s the human side, local partnerships and capacity building. Deals that pair U.S. capital and technology with African expertise tend to go further and last longer.  

The Lobito Corridor and other emerging trade routes are becoming strategic arteries for logistics, industry, and regional integration. How can these corridors reshape value chains and open new pathways for long-term U.S. investment across the continent? 

Corridors like Lobito are far more than transportation projects – they are reshaping regional economic ties. When you can move copper, maize, or manufactured goods from Zambia or the DRC to the Atlantic in a matter of days instead of weeks, you’re not just changing trade routes; you’re creating new value chains.  

Corridors compress distance and time, but they also expand possibility. They make it feasible to refine minerals locally instead of shipping raw ore abroad. They make it profitable to process crops or manufacture parts closer to the source. And they connect inland regions that have been historically left out of global trade.  

In my view, the U.S. has a very important and real role to play here, not only in financing rails and ports but also in assisting build the supporting ecosystem: warehousing, energy supply, training centers, even digital platforms to manage logistics. When these elements work together, corridors stop being “projects” and become living economies.  

And from an investor’s perspective, that’s what makes the model exciting, it’s scalable. If the Lobito model works in Southern Africa, we can adapt it to West Africa, East Africa, and beyond. It’s about creating corridors of growth that make the African Continental Free Trade Area a reality, one connected, competitive market rather than 54 fragmented ones. 

As Angola marks 50 years of independence, the country is positioning itself as a gateway for investment across multiple sectors: from energy and infrastructure to agriculture, health, and technology. Which areas do you see as holding the strongest potential for U.S. companies, and how can these partnerships advance broader African growth? 

Fifty years on, Angola has come a long way, but it’s also very clear-eyed about the work ahead.  

As far as U.S. commercial interests are concerned, I think energy will remain a vital pillar. Oil and gas are still vital, although future opportunities are concentrated in natural gas infrastructure, renewables, and grid modernization, places where American companies can bring technology, financing, and environmental best practices to the table.  

Infrastructure and connectivity are also of course top priorities, especially with the strong interests in and around Lobito. From bridges and railways to subsea cables and cybersecurity, U.S. engineering and tech firms are already demonstrating what high-standard partnership looks like.  

Agriculture could perhaps be Angola’s sleeping giant. With vast arable land and untapped potential, it can feed not only itself but its neighbors. I think U.S. agritech and supply chain expertise can really make a difference here. 

There are also significant opportunities in healthcare: Angola imports most medicines and needs diagnostics, devices, and training. U.S. firms that are well positioned to help here, and our member companies have included Angola in our Health Security and Resilience Initiative in terms of expanding market access and creating the right conditions for more trade and investment.  

In June, CCA and Angola hosted the U.S.-Africa Business Summit in Luanda, Angola. Over four days, we hosted close to 2800 delegates from U.S. and African companies as well as 12 Heads of State and Prime Ministers and 31 official delegations. Companies at the Summit signed over $4 billion in commercial deals while 36 sessions highlighted the most important developments in key sectors, like energy, investment, agriculture, health and mining.  We look forward to continuing this momentum next year when we host the next edition of the U.S.-Africa Summit in Mauritius. 

As U.S.–Africa dialogue enters a new phase, what signals or commitments from both governments and business leaders would ensure that this partnership drives measurable growth and shared prosperity over the next decade? 

There are a lot of concrete steps we can all take to deliver on the promise of shared prosperity.  African and American companies can continue to step up their engagement with each other to identify the opportunities and partners that are right for them. 

African Union agencies like Afreximbank and the African Development Bank have been very active in developing programs to support trade and investment deals as opportunities arise.  The private sector should keep pushing them, both to take advantage of what they have already put on the table, and to identify new practical ways that they can address barriers to trade and investment. 

Similarly, the U.S. Government has said all the right things about the importance of Africa. It would be great to see a long-term renewal for AGOA, which has now unfortunately lapsed. It is also important to see a reauthorization for the Development Finance Corporation and leadership confirmed for senior economic policy positions in Executive Branch Departments like State and Commerce, as well as MCC. 

I have been encouraged by the frank and constructive way African governments have responded to the Trump Administration’s call for them to engage on ways to make trade and investment more reciprocal. Combined with the renewal of AGOA, I think following through on these discussions could be very helpful. 

Tracking the outcomes of the annual CCA U.S.-Africa Business Summit will provide a clear and measurable barometer for how well we are all succeeding at realizing the opportunities before us.