Africell Angola hosts roundtable for business leaders and US Government officials

USAID Administrator Samantha Power speaks to the director of Afrimoney Angola, Kátia Da Conceição, during a visit to a joint USAID-Afrimoney project in Benguela

April 24, 2024 | Africell has hosted a roundtable in Luanda for Angolan business leaders and senior U.S. government officials.

The event, which explored business and development opportunities between Angola and the United States, saw top executives from Angolan companies interact directly with over a dozen U.S. officials, including Samantha Power, Administrator of the U.S. Agency for International Development (USAID) and Richard Verma, Deputy Secretary of State for Management and Resources.

The event was part of the Partnership for Global Infrastructure and Investment (PGI), a G7 initiative to mobilize international investment in emerging markets to close the global infrastructure gap. Through PGI, the United States and its G7 and European Union partners are boosting investments in the Lobito Corridor, which encompasses Angola, Democratic Republic of Congo and Zambia, with a focus on transport infrastructure, digital connectivity, food security and clean energy.

In August 2023, Afrimoney (Africell’s mobile money platform) and USAID announced a collaboration aimed at increasing financial inclusion in Angola by expanding access to mobile money. The USAID investment of almost $5 million bolsters USAID’s collaboration with Africell to expand access to digital finance and uptake of Afrimoney services. The collaboration aims to stimulate the growth of Angola’s mobile money ecosystem by recruiting agents and improving digital and financial literacy through educational campaigns, especially in rural communities – with a pilot program targeting 2,000 farmers in Lobito. The project is titled ‘Dinheiro Digital é Melhor’ – or ‘Mobile Money is Better’ (DDM).

Africell is among the most prominent American-owned companies in Angola. Having launched services in April 2022 following an invitation by the Angolan government to introduce competition and drive down prices, the mobile network operator has since earned over 7 million subscribers and a 25% market share. Through the United States International Development Finance Corporation (DFC), the United States Government is currently Africell’s biggest external investor. Angola and the United States are in the process of deepening economic and political engagement. Angola is a strategically important country making efforts to diversify its economy and attract a broader base of international investors. PGI is supporting this campaign, which promises to electrify Angola’s economy and pioneer a template for other collaborative international investment projects.

“As a vibrant and fast-growing consumer-facing brand, Africell is a great example of a new, more dynamic type of US investment in sub-Saharan Africa”, says Jorge Vazquez, CEO of Africell Angola. “We are honoured to welcome Administrator Power, Deputy Secretary Verma and their colleagues to our headquarters in Luanda and to be able to facilitate their interaction with other innovative and ambitious organisations operating here in Angola”. 

The official trip to Angola also involved a visit to a DDM project in Benguela. Ms. Power and Kátia Da Conceição, Managing Director of Afrimoney Angola, met mobile money field agents trained through USAID support, and learned about efforts to educate and onboard more users of mobile money services in rural and agricultural communities in Angola. 

USAID Administrator Samantha Power poses with users and potential users of mobile money services in agricultural communities in Benguela, Angola

ABOUT AFRICELL AND AFRIMONEY

Africell provides mobile network coverage and related technology services to almost 15 million subscribers in sub-Saharan Africa. We operate in Angola, Democratic Republic of Congo, Sierra Leone and The Gambia. The only US-owned mobile network operator in Africa, Africell directly and indirectly employs more than 10,000 people. Afrimoney is the brand name of Africell’s mobile money services. Learn more at www.africell.com

ABOUT U.S. AGENCY FOR INTERNATIONAL DEVELOPMENT (USAID)

On behalf of the American people, the U.S. Agency for International Development promotes and demonstrates democratic values abroad, and advances a free, peaceful, and prosperous world. In support of America's foreign policy, USAID leads the U.S. Government's international development and disaster assistance through partnerships and investments that save lives, reduce poverty, strengthen democratic governance, and help people emerge from humanitarian crises and progress beyond assistance. Learn more at www.usaid.gov