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The Strengths and Weaknesses of Angola

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Welcome to Displore and thanks for watching. In this video we shall be looking at the strengths and weaknesses of Angola.Angola is an oil-rich country and Africa’s second largest oil exporter. Angola’s economic growth is highly dependent on oil price developments and a declining international oil price, therefore that remains a cause of concern.Angola is a unique country, with strengths and weaknesses and in this video, we will explore both in order to make value judgments on the country. The strengths of the African nation Angola are the internal aspects of the country either natural or man-made which helps or fosters the country’s growth and progress. The weaknesses on the other hand are internal aspects that hinder the country’s improvement and are strikes which make a nation less attractive to investors, foreigners and most importantly its citizens.

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The Strengths of Angola
1. Significant Oil Production and Liquidfied Natural Gas Producer
The Economist reported in 2008 that diamonds and oil make up 60% of Angola's economy, almost all of the country's revenue and all of its dominant exports. Growth is almost entirely driven by rising oil production which surpassed 1.4 million barrels per day and is expected to grow to 2 million barrels per day. In December 2006, Angola was admitted as a member of OPEC. According to the Heritage Foundation, a conservative American think tank, oil production from Angola has increased so significantly that Angola now is China's biggest supplier of oil.Angola has vast hydrocarbon and mineral resources, ample arable land and a high potential for hydropower generation and tourism. Due to the hydropower potentials of Angola, it has developed several hydropower plans and still working on many others. The natural resource base and oil money has supported the economy of Angola in many aspects. Oil revenues have also supported low public and external debt.The commodity also positively contributes to the economy, as oil production generates 98% of the country’s exports. Luanda's construction boom is financed largely by oil and diamonds.

2. Rich Culture
Angolan culture has been heavily influenced by Portuguese culture, especially in terms of language and religion, and the culture of the indigenous ethnic groups of Angola, predominantly Bantu culture.The diverse ethnic communities like the Ovimbundu, Ambundu, Bakongo, Chokwe, Mbunda and other peoplesto varying degrees maintain their own cultural traits, traditions and languages, but in the cities, where slightly more than half of the population now lives, a mixed culture has been emerging since colonial times; in Luanda, since its foundation in the 16th century.In this urban culture, the Portuguese heritage has become more and more dominant. African roots are evident in music and dance, and is moulding the way in which Portuguese is spoken. This process is well reflected in contemporary Angolan literature, especially in the works of Angolan authors.In 2014, Angola resumed the National Festival of Angolan Culture after a 25-year break. The festival took place in all the provincial capitals and lasted for 20 days, with the theme “Culture as a Factor of Peace and Development”.

3. International Financial Support
Angola has been able to garner financial support from many countries but as a trade for their rich natural resources or to finance projects the lending nations will benefit from. Of its several hydroelectric projects, China has been one of the main investors as well as the world bank with various conditions of the loans. Most of these investments by china and other countries usually translates to thousands of barrels of petroleum.

The Weaknesses of Angola
1. Low Level of Development
Angola is amid the countries with the lowest level of development in the world. Very low rankings in the Human Development Index of 148/187 and the corruption perceptions index of 157/176 emphasize the low standard of living in Angola.

2. Instability in the Economy
Although the country's economy has grown significantly since Angola achieved political stability in 2002, mainly due to fast-rising earnings in the oil sector, Angola faces huge social and economic problems. These are in part a result of almost continual armed conflict from 1961 on, although the highest level of destruction and socio-economic damage took place after the 1975 independence, during the long years of civil war. However, high poverty rates and blatant social inequality chiefly stem from persistent authoritarianism, "neo-patrimonial" practices at all levels of the political, administrative, military and economic structures, and of a pervasive corruption. The main beneficiaries are politic