Angolan president heads to China as low oil price bites

2015-06-08 13:32
Jose Eduardo dos Santos. (AFP)

Jose Eduardo dos Santos. (AFP)

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Luanda - Angolan President Jose Eduardo dos Santos headed on Monday for his first official visit to China in seven years as his country, which is Africa's second largest oil producer, struggles with falling oil prices.

Dos Santos, who has ruled since 1979, only makes rare trips abroad from the former Portuguese colony, which remains one of the world's poorest countries despite its natural resources.

Dos Santos was invited for a three-day visit to China by President Xi Jinping, reported the government daily Jornal de Angola, adding the stopover would seek to bring a "new impetus" to relations.

Beijing has extended nearly $15bn of credit to Angola since 2004, including help to finance major infrastructure projects such roads, rail lines and even new cities.

Angola draws about 70% of its income from oil, and falling prices have hit government revenue hard.

The country saw a decade of strong growth after the civil war ended in 2002, with development boosted by oil reserves. The government was also courted by China, the United States and Europe.

Dos Santos could seek new credit from Beijing, according to reports in the Portuguese press.

Official figures say that about 54% of Angolans live on less than two dollars a day.

Read more on:    jose eduardo dos santos  |  china  |  angola  |  southern africa  |  energy

Join the conversation! encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions. publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.