Public Management

Biden to Visit Angola in Historic Trip Focused on Regional Collaboration

Biden to Visit Angola in Historic Trip Focused on Regional Collaboration
Wednesday, 27 November 2024 13:38

This is the first official visit by a sitting U.S. president to Africa since Barack Obama's trip in 2015. It comes at a time when the U.S. is changing leadership. Angola is a strategic country with the largest trade surplus in U.S. dollars on the continent.

Outgoing U.S. President Joe Biden (pictured) will make an official visit to Angola from December 2 to December 4, 2024. This was announced by the Africa Bureau of the U.S. Department of State. Dr. Frances Brown, Special Advisor to the President and senior African affairs official at the National Security Council, expressed enthusiasm about the trip.

Initially scheduled for mid-October, the visit was postponed due to Hurricane Milton, which devastated parts of Florida. This marks the first visit by a sitting U.S. president to Africa since Barack Obama traveled to Ethiopia and Kenya in 2015. U.S. officials emphasize that the visit builds on the USA-Africa Leaders Summit of December 2022 and Angolan President João Lourenço’s trip to the U.S. in November 2023.

1 president copy

While the choice of Angola as a destination may seem unusual given the relatively modest trade relationship between the two countries, it holds strategic importance. In 2023, Angola’s primary trade partner was China, which imported over $18 billion worth of Angolan goods, mostly crude oil, according to the International Trade Center. The U.S., meanwhile, ran a $610 million trade deficit with Angola that year.

When the visit was first announced, some saw it as a potential effort by the Biden administration to counter China’s influence in Africa, particularly during an election year. However, the political landscape has since shifted. President Biden is no longer pursuing re-election, and Vice President Kamala Harris lost the presidential race to Donald Trump, the incoming U.S. president, who will likely have his own approach to Africa.

As a result, long-term trade agreements are unlikely to emerge from Biden’s visit to Luanda. However, his advisors suggest he will use the opportunity to reaffirm U.S. principles of collaboration with Africa, particularly in areas like regional security, energy transition, strengthening democracy, and economic partnerships.

From an economic standpoint, Angola holds strategic importance for the U.S. due to its proximity to Zambia and the Democratic Republic of Congo (DRC), two countries rich in copper reserves crucial for the global green economy. The U.S. has already established agreements with these nations to support their mining industries.

Angola’s role in the Lobito Corridor project further underscores its significance. This major infrastructure initiative connects the copper belt in Zambia and the DRC to Angola’s Lobito port. 

1 bois

It has secured $3 billion in funding from African development finance institutions, along with European and American partners. The project is part of the Global Partnership for Infrastructure and Investment and aims to facilitate the export of minerals, boost agricultural value chains, and connect Central Africa to Western markets, including the U.S. and Europe.

The Lobito Corridor project enjoys bipartisan support in the U.S., and President Trump’s incoming administration is unlikely to disrupt American financial commitments to it. Angola also stands out as Africa’s leading economy in terms of trade surplus, achieving $25.7 billion in 2023, surpassing Algeria’s $17.2 billion surplus. Additionally, Angola plays a vital diplomatic role in efforts to stabilize relations between the DRC and Rwanda, two key U.S. partners in Africa.

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Côte d’Ivoire will receive $234 million for a sustainable urban mobility project in Abidjan. Gambia will receive $32.2 million to build...
Stanbic IBTC and Zenith Bank cut monthly card spending abroad to $500 and $200 Foreign reserves fall by $3.5 billion in six...
Cauri Money launches Gajo Money, an e-wallet for the Cameroonian diaspora, targeting €120 million in transactions by end-2025. The fintech...
• Kenya and ASR sign deal to reduce risk on projects worth up to $2 billion.• Risk cover will target infrastructure, energy, logistics, and trade...
Most Read
01

• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...

Afreximbank Bonds Retain Market Confidence Despite Moody’s Downgrade
02

• Qatar Airways and Kenya Airways establish strategic agreement, introducing a third daily flight be...

Qatar Airways Expands its Network in Africa, Building Presence in Kigali, Johannesburg, and Nairobi
03

• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boo...

Nigeria Secures $100 mln ECOWAS Bank Loan for Lagos-Calabar Coastal Highway
04

• EY is preparing to leave Francophone Sub-Saharan Africa by 2026• The exit could unlock $500 m...

EY’s Exit Creates $1bn Opportunity in Francophone Africa Consulting Market
05

• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0....

UEMOA: Inflation Drops to 0.6% in May, Driven by Lower Food Prices
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.