Market Research in Angola
Key Industries
During the colonial period, Angola was the crown jewel of Portugal. It gave people the encouragement they needed to invest in their economy. With this, the economy started having rapid growth by the 1970s. The leading exports were diamonds, coffee, petroleum, and sisal. There was also the development of the light industry in the major towns.
The economy’s growth was uneven because the profits were going to the “settler class.” Due to this, ordinary people had to focus on agriculture. They had to lower the prices of the products to make a living. As a result, it led Angola to a nationalist movement.
Neighborhoods
Angola is a country in southwestern Africa. It is an enormous country with a wide assortment of scenery: mountains, valleys, rainforests, and semiarid lands.
Luanda, the capital of Angola, is a vast port city on the northern coast. It mixes African traditional house styles with colonial Portuguese-style buildings. Luanda also has many modern skyscrapers.
Trends
Cinema, sports, and music are a big part of Angola’s culture. African roots are plain in the music and dance and are shaping the speech of the Portuguese language. It’s also in contemporary Angolan writing, particularly in the works of native writers.
The most popular game in Angola is basketball. Its national team has won the AfroBasket many times and holds the record of most titles. As a top team in Africa, it is a regular contender at the Summer Olympic Games and the FIBA World Cup.
In football, Angola hosted the 2010 Africa Cup of Nations. The Angola national football team made it to the finals in the 2006 FIFA World Cup: their first appearance at that level. They won three COSAFA Cups and were runners-up in the 2011 African Nations Championship.
Angola has partaken in the World Women’s Handball Championship for quite a long while. The nation has also shown up in the Summer Olympics for a very long time.
Strengths in the Market
1. Generous natural resources
Angola has vast hydrocarbon and mineral assets and abundant cultivatable land. It also has good potential for years of hydropower.
2. The business relationship with China.
Angola has a trading relationship with China for the development of their country.
Consumer Base
Most Angolan people are youthful, which makes the consumer buyer base young. Also, the majority of these people live in metropolitan regions.
The standard of living in Angola has improved as of late with financial development. Yet, on average, Angolans still have a low standard of living. Discretionary income is insufficient. A high volume of customer spending is on food and drink. Also, the food costs are high.
If Angolans grow new foods instead of importing, this will ensure extra cash in the country. It can further enable a better standard of living. Thus, the fresh produce market in Angola has a lot of space to develop.
The country is revisiting a program of development. This program will concentrate on the fishing, extractive, monetary, and land areas. Already, the capture of fish has increased.
Reasons to Grow Your Business in the Market
1. Some industrial sectors are tax exempt.
The government is looking for:
2. Economic diversification
3. Modification of modern technologies
4. The financial and social areas with the best potential are:
- Agribusiness, Livestock Production, and Forestry
- Tourism
- Assembling and Processing Industries
- Fisheries and Aquaculture, including fish handling
- Transport and Telecommunications
- Schooling (Regular Education and Technical-Vocational Training)
- Development and Housing Support
- IT and Management Technology
- Medical care (Preventive Medicine and Pharmaceutical Industry)
About Market Research in Angola
Are you a business visionary looking to work in Angola? If so, you have come to the best place. We put together Focus Groups in the different African business areas, and we can also do Quantitative, Qualitative, and Strategy Research for your organization. We tunnel through primary research, surveys, interviews, and articles. That is only the start. We collect essential information for you and your business.
We hope this article offers you what you’re looking for to start your business in Angola.