Liangwen Wang (Author)
Department of Global Business Administration，Chonnam National University, Gwangju 61002, South Korea
Zhixing Yin (Author)
Institute of Portuguese Speaking Countries Studies，City University of Macau, Macao 999078, China
Angola, economic diversification, resource curse
31-12-2025
Since the end of its civil war in 2002, Angola has gradually explored paths toward economic diversification, yet it was not until the 2014 oil-price collapse triggered a severe fiscal crisis that the goal was elevated to a national strategy. Although the dos Santos administration initially sketched the idea of economic transformation, systematic implementation began only under President Lourenço, who has advanced privatization and prioritized agriculture, manufacturing, fisheries and tourism to reduce dependence on oil revenue, enhance economic resilience and expand employment. Institutional bottlenecks, shortages of human capital and persistent volatility in global energy markets now constitute a threefold constraint on Angola’s diversification agenda. As the global green transition accelerates, the Angolan government must deepen structural reforms, strengthen institutional frameworks and increase investment in human capital within a narrow time window if it is to escape the resource curse.
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