Inflation, the slowness of bureaucratic processes and access to financing and the legal regulatory environment are among the major challenges in terms of investments in the country. For 70% of managers, the shortage of skilled labour is the main barrier to business development.
Access to foreign exchange is the main challenge faced by companies in Angola, which compromises investments, according to the responses of top managers to the PwC consultant study “Barometer of managers in Angola”.
This study reveals that investment in Angola faces a number of challenges that can hinder the development and effective operation of companies, with 93% of 43 top managers saying that the main constraint they face is precisely access to foreign exchange.
Other major challenges were also identified, such as inflation (70%), the slowness of bureaucratic processes (53%), access to financing (47%) and the regulatory legal environment (44%). Still, a third of managers intend to make new investments in 2024 and 43% believe that their company’s turnover will increase.
According to the joint survey of Pwc, the Portugal-Angola Chamber of Commerce and Industry (CCIPA) and the Agency for Investment and Foreign Trade of Portugal (AICEP), for 70% of managers the shortage of manpowerskilled labor represents a barrier to the smooth business development, being necessary a serious bet on technical-professional training that can also respond to the demographic challenge that is occurring in the country.
“Hiring competent employees in Angola is a critical factor for the success of companies in a competitive and developing market. However, the recruitment and selection process faces several challenges such as the fact that the education system in Angola is still in a developing phase and the bureaucratic complexity in obtaining work visas for foreigners”, reveals the study.
Pessimism prevails
Regarding the expectations of growth in the national economy, managers of companies established in Angola, who participated in the 2024 Barometer, were mostly pessimistic, since 72% expressed some apprehension about the current economic context.
Regarding the global geostrategic challenges regarding the expected impact on business, the price of oil and the price of raw materials are the main concerns of companies in the country.
According to José Bizarro Duarte, of PwC, who spoke during the presentation of the report thisThe study had as motivational factor to aggregate in a systematic and methodologically organized way a set of concerns of managers responsible for the creation of enterprises and consequently of jobs necessary for the development of the economy.
Source: Expansão
