Angola is full of opportunity - by Fred Felton
Last week I was invited by Frontier Advisory to attend their latest Forum on doing business in Angola.
It was a very interesting time indeed.
Roger Ballard-Tremeer, Neville Matjie and Daniel Swanepoel in discussion at the event.
We heard from Roger Ballard-Tremeer, Honorary Chief Executive of the Angola Chamber of Commerce that Pep Stores has 30 stores in Angola and is doing well.House & Home is in Angola and on the first week of launching they sold out their entire stock.
There are close to 3500 Projects in Angola for the Government. These are huge opportunities for South African companies.
Neville Matjie from Trade and Investment KZN told us there is a lot of growth in Angola. Lots of opportunity. Also in the Food & Beverage Industry. Some South African companies have already visited Angola to see what is on offer. There are challenges in Angola. You have to develop trust especially in outlying areas. Angola is also very expensive, this does mean you can make huge returns. He advised companies to do their research and understand the market before you invest in Angola.
Daniel Swanepoel from Daniel John Consulting told us that it was a land of opportunity. You have to try understand who you are dealing with. Dress in Business attire for your first business meeting. Look the client in the eye. They first want to get to know you.
Luanda will have a new airport due to be finished in 2014.
Neville Matjie advised that you check Angolan companies out first before you partner with them.
Advice from the panel included:
- You would have to know a bit of Portuguese or take someone with who speaks Portuguese
- There are more than 20 banks in Angola
- Short-term Visa's are quick normally 2 days.
Twitter - @FrontierSA
Facebook - Frontier Advisory
Web - www.frontieradvisory.com
Frontier Advisory will be having a China-Africa Business Summit on 17th April in Johannesburg.
(Fred Felton was a invited guest of Frontier Advisory at this event)