The Startup Ecosystem of Angola

Angola is one of Africa’s largest economies, transitioning from an oil and gas-based economy to a more diversified economy. However, the Angolan entrepreneurial ecosystem is in its infancy. Still, Angola has a promising future with a number of initiatives taking place, which have already contributed to an increasing number of startups in the country. Recently, the Angolan government has taken an important step towards improving the technological infrastructure by announcing a project to construct a unified national cloud for government departments, including building two data centers and renovating the existing one. This project will provide high-speed internet connectivity to all government departments and help unify data from all ministries. The initiative will tackle one of the most important challenges for startups, which is the high level of bureaucracy.
Another impactful initiative for startups was a step by the national Empretec host institution, Prestígio – Liga de Jovens Empresários e Executivos de Angola. The organization signed an agreement with UNCTAD to coordinate the delivery of future Empretec training sessions in Angola. Empretec is a program established by the UNCTAD to promote the creation of sustainable, innovative, and internationally competitive SMEs. Moreover, the International Finance Organization has partnered with Acelera Angola (an Angolan incubator and accelerator) to help Acelera expand, support innovative tech startups, and contribute to the economic growth in the country. Finally, the Angola Innovation Summit is a global online event bringing entrepreneurs, policymakers, VCs, and academics together, especially from African Portuguese-speaking countries. It has an important role in increasing the reputation of Angola as an innovation hub.
However, high taxes and lack of funding remain the major challenges for Angolan startups. With the right public sector initiatives, we are hopeful that startups will continue rising across Angola, capitalizing on the digital revolution to provide a significant boost to the economy.