Luanda: President Joo Louren§o has authorized the expenditure of 400 million Kwanzas (AKZ) to support the preparation of the 2025 US-Africa Business Summit, scheduled to take place in Luanda from June 23 to 27 of the current year. The authorization aims to ensure the successful organization and execution of the event.
According to Angola Press News Agency, the funds were sanctioned through Presidential Order No. 134/25, which was published in the Official Gazette on the 26th of the current month. This order formalizes the initiation of the Simplified Contracting Procedure based on the material criterion. The procedure emphasizes the technical and artistic aptitude necessary for contracting consultancy services essential for the summit’s organization, planning, and execution.
The Head of Executive Power has delegated authority to the Minister of Industry and Commerce, permitting further sub-delegation. This delegation includes approving procedural aspects, verifying the legality and validity of all actions taken, and overseeing the conclusion and signing of the contract.
In preparation for the summit, the Secretary of State for Commerce and Services, Augusta Fortes, highlighted the significance of the 17th US-Africa Summit. She emphasized its potential to reduce Angola’s dependence on oil by attracting new investments. During a ceremony presenting the event to public company heads, Fortes noted that the summit presents an opportunity for Angola to enhance non-oil sectors such as agriculture, manufacturing, and renewable energy, which are vital for the country’s development.
She added that the event, which is part of the celebrations of Angola’s 50th anniversary of Independence, will also allow for the establishment of partnerships with leading US companies and facilitate access to financial instruments from similar institutions.