Energy company Poliedro has recognized the need to explore new industries like mining and logistics
The economy in Angola has long been dependent on the thriving oil and gas industry and while the sector continues to be a substantial contributor to the country’s GDP, the emergence of agriculture, fisheries and mining has played an important role in helping the economy to recover since the COVID-19 pandemic.
With the government keen to see the continued diversification of the economy so that there is less of a reliance on the oil and gas industry, even companies that have traditionally focused on the energy sector are beginning to explore new industries.
One such company is Poliedro, which initially focused on the oil sector but has gradually begun to explore new revenue streams and is planning to diversify its operations in the decade ahead.
“A substantial portion of Poliedro’s revenue still comes from the oil sector and it remains the main driver in the Angolan economy. However, we have observed a promising increase in activity in the mining sector following improvements in safety,” reveals Ulanga Gaspar Martins, Chairman and CEO of Poliedro. “In the past mining was preoccupied with diamonds but today the sector is diversifying and the development of strategic mineral reserves gives a new dynamic to this sector.
“That is why we are now looking to anchor the company’s activities in mineral resources to generate income that can then be invested in other sectors.”
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