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Angola elects its first new president in 38 years

Angola elects its first new president in 38 years

Report summary

Angolans went to the polls on 23 August 2017. President Jose Eduardo dos Santos will step down after a 38-year reign. His intended successor from the ruling MPLA party, former Defence Minister, Joao Lourenco, inherits a country beset by economic and financial problems, at the heart of which is the country's oil industry and its NOC, Sonangol. As a high cost, predominantly deepwater province, Angola has been hit hard by the slump in oil price. Restarting investment in Angola's upstream sector will be high on the new President's in-tray. However, with tough fiscal terms and Sonangol's reputation for bureaucracy, this will be challenging.

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