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Angolans Bailing Portugal’s Economy From Sinking

Formerly, Angola was a penniless part of the Portuguese kingdom but today, it is trying to bail Portugal’s economy from sinking. At the moment its oil wealth means its citizens are lining up to buy everything from vineyards to property in the former colonial power.

There are numerous in Lisbon, regularly coming from other previous colonies; however, the ones with the big money to spend are the ones coming from Angola.

After the Russians and Chinese, Angolans are the preferred patrons of the luxury goods stores. Portugal’s banks, a lot of which are in difficulties, have similarly become the major targets for the Angolan investors.

The growth in the economic relationship between Portugal and Angola works both ways. Angola is currently one of the leading destinations for Portuguese exports, and thousands of Portuguese are immigrating to Angola each month to search for a job.

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About Noretta Loum

Noretta is creative and passionate about writing. Her main goal is to inform, promote, educate, cultivate and engage readers through her articles. She's also an online and social media amplifier always on the lookout for the latest trends, conversations and more!

One comment

  1. Kudos to the Angola business men. The tide is changing and Africa will rise again to its old glory.

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