Angola is the seventh largest country in Africa, with a population, which is forecasted to double within the next two decades. After overcoming a tumultuous recent history, with the end of the colonial time and the civil war in late twentieth century, the country is now on a trajectory of stability and have known its first democratic elections in 2017.

Despite being the sixth-largest economy in Africa, Angola grapples with heavy reliance on oil exports, resulting in economic vulnerabilities. Recent reforms and economic consolidation measures have triggered a growth rebound, but diversification efforts are imperative to reduce oil dependence and address rising inequalities. This goes along with a need to ensure inclusive growth, with better redistribution of the oil industry revenues, significant investments in human capital development and higher education in order to foster a strong diversified economy. The country is highly exposed to challenges related to climate stress, the preservation of environment and the transition to a low-carbon economy.

Angola has been implementing policies to promote inclusive and more equal growth, in the sense to be able to redistribute better the dividends of oil exploitation to the entire population. Some measures were implemented to enhance the perception of the country and business climate, some of which have been achieved despite their rather ambitious character. For instance, the fight against corruption was one of the first priorities of J. Lourenço since his arrival in power. Angola's formal inclusion in the Extractive Industries Transparency Initiative (EITI) in June 2022 is anticipated to enhance transparency and accountability in the oil and gas sector, potentially leading to improved governance and practices.

This project proposes a comprehensive strategy to address key issues in Public Finance Management (PFM) and the financial sector, aligned with the government's priorities and with other initiatives from international partners. Indeed, the Expertise France will design activities ensuring consistency and continuity with an on-going Technical Assistance project financed by the Agence Française de Développement (AFD).

Key beneficiaries include the Ministry of Finance, relevant directorates and public institutions involved in PFM, SOE governance, and PPP implementation.