UK backing unlocks £167m of exports for British businesses in Angola
UK Export Finance (UKEF), the UK’s export credit agency, is providing £655m in financing to support the design, construction and refurbishment of four major infrastructure projects across Angola, unlocking £167 million in supply contracts for UK businesses.
The projects, which include the design and construction of Cabinda Airport alongside significant road and other infrastructure developments, will create opportunities for British contractors and suppliers across the UK. The support will strengthen economic ties between the UK and Angola while helping to secure jobs and economic growth in communities across Britain.
UKEF financing will enable UK expertise, goods and services to play a central role in delivering infrastructure that supports Angola’s long-term economic development and connectivity.
Business, innovation, science and trade secretary Jonathan Reynolds said: “We’re backing British businesses to win big on the global stage, and UKEF’s support is helping showcase our expertise in infrastructure, engineering and construction.
“From a new international airport to a major road, these projects will strengthen the UK-Angola partnership, helping to create jobs across the UK and deliver on our mission to drive growth in every postcode.”
CEO of UK export finance, Tim Reid, said: “Angola is leading an ambitious national infrastructure programme, and we want British exporters to be front and centre bringing their expertise. These key infrastructure projects will improve transport links and electrification in the country while boosting UK business and supporting jobs.”
UKEF has a long history of supporting projects in Angola, spanning healthcare, power, water, agriculture and infrastructure. Since 2018, when UKEF first supported projects in Angola, the support has grown substantially. Taken together, these deals show a total of well over £2bn in cumulative UKEF support for Angola since 2018, across healthcare, power, water, agriculture and transport infrastructure, with significant benefits for UK exporters in construction, engineering and manufacturing.
The four projects announced today are:
Cabinda International Airport
UKEF is providing £371m to support the design and construction of a new international airport. The project, delivered by the Innovo Group, will support 830 local jobs during construction and UK suppliers are acting as sub-contractors to a UK-based project developer.
Rehabilitation of the Camama-Viana Road
UKEF is providing £73m to support the rehabilitation of this vital road, providing significant relief from traffic congestion in Luanda province. The project includes stormwater drainage networks, pavement base construction and macro-drainage channel works. It is being built by MCA Group and is among Angola’s national infrastructure priorities.
Uíge Electrification Project
UKEF has provided support for £93m to construct transmission lines, substations, and supporting infrastructure across Uíge Province. Delivered by Elecnor, the project supports local employment and drives regional economic development. It will create 5,000 domestic connections and public lighting, advancing Angola’s national electrification plan while reducing reliance on diesel generators and improving the sustainability and reliability of the province’s power supply.
Huambo Transmission Line
UKEF has provided £118m to fund the construction of a major electricity transmission line, significantly expanding Angola’s national power grid. Built by Elecnor, the project fosters local job creation and contributes to the growth of the local economy. The high-voltage line will connect Belém do Dango in Huambo Province to Lomaum in Benguela Province, strengthening electricity infrastructure, facilitating the distribution of renewable energy, and building a more sustainable and reliable national power system.
UKEF is backing businesses, actively providing finance for developing and emerging markets, creating mutual benefits for communities overseas and in the UK. By 2029, UKEF aims to back £10m of finance in low-and middle-income countries, supporting sustainable infrastructure, clean growth and economic development in the countries that need it most, while securing vital export wins for British businesses.