Angola: China to lend $249m to Angola to finance national broadband project
January 13th 2023
The Angolan government is stepping up initiatives to accelerate the development of the national telecom sector. The country recently acquired a telecommunications satellite in partnership with Russia.
Angola will benefit from a loan of 249 million dollars from the People’s Republic of China to finance a national broadband project. An agreement was signed to this effect on Wednesday January 11 by Vera Daves (photo, right), Angolan Minister of Finance, and Gong Tao (photo, left), Chinese Ambassador to Angola.
Under the terms of the agreement, the funds will be disbursed by the Export and Import Bank of China. They will be used to build a 2,000 kilometer land optical cable network across Angola as well as an undersea line linking the enclave of Cabinda. Part of the money will also be used to modernize the country’s telecommunications network.
This partnership is part of the actions undertaken by the Angolan government to accelerate the development of the telecommunications sector in a context marked by the acceleration of digital transformation and the growing demand for high-speed telecom services. According to Ms. Daves, “ this financing is fully in line with the government’s strategy on indebtedness and public debt management, thus contributing to its sustainability ”.
The national broadband project is expected to strengthen the country’s telecom infrastructure and bring broadband network services to remote areas. It should also reduce access costs and accelerate Luanda’s digital economy ambitions.
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