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Bloomberg Television

What Angola Stands to Gain from Biden’s Rare Visit to Africa 💓

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President Joe Biden’s visit to Angola was the first by sitting US president in nearly a decade and Angola is hoping it translates to even more non-oil investment and for the US it could be an opportunity to counter Chinese influence in the region oil has accounted for some 90% of the country’s export Revenue selling more than half its output to China but its face calls to diversify and is eyeing infrastructure it’s relied heavily on China for infrastructure investment in the past but is looking to privatize everything from its state-owned Airline tag to the flagship lobido Railway project now the US has committed some $5 billion dollar to revitalize the corridor which connects the copper mines of Zambia to Angola’s Port City Congo and Zambia hold an estimated 10% of the world’s copper deposits and the majority of the planets Cobalt minerals that are crucial to the EV transition and cleaner energy now experts say it’s unlikely we’ll see a divestment even with a new US Administration as countering China has bipartisan backing in the US but it’s likely access to these reserves will continue to be a Battleground for investment and influence

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