What Angola Stands to Gain from Biden’s Rare Visit to Africa

President Biden's visit to Angola, the first by a sitting US president in nearly a decade, signifies a potential shift in the country's economic landscape. Angola seeks to diversify its economy beyond oil, particularly in infrastructure, and the US aims to counter China's influence in the region by offering investment and support. Access to vital resources like copper and cobalt, crucial for the EV transition, will likely remain a contested area of investment and influence between the US and China.

US Investment & Angola's Diversification

• 00:00:07 Angola aims to attract more non-oil investments, specifically in infrastructure, to diversify its economy currently heavily reliant on oil exports, mainly to China. The US has pledged $5 billion to revitalize the Lobito Corridor, connecting Zambia's copper mines to Angola's port, signaling an effort to increase US influence and investment in the region. This move reflects a broader US strategy to counter Chinese influence in Africa and secure access to key mineral resources.

Competition for Resources

• 00:01:00 Despite the US's efforts, China's significant influence in Angola's economy is unlikely to diminish quickly, as countering China's influence has bipartisan support in the US. Zambia and Congo hold significant copper and cobalt reserves, essential for the global transition towards electric vehicles and cleaner energy, making the region a key battleground for investment and influence between the US and China. Competition for access to these resources is anticipated to persist, signifying the geopolitical importance of the region.