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May 12, 2008 

AFP: Angola oil tiger plans investment in Europe

For the complete report from the AFP click on this link

Angola oil tiger plans investment in Europe

Angola oil tiger plans investment in Europe

Oil-rich Angola, which survived a quarter century of civil war to transform itself into an African El Dorado for keen investors, has begun investing profits in Europe, starting with the former colonial power Portugal. Angola has been steadily reconstructing since civil strife finally ended in 2002, and is now fast becoming a world player in oil production as sub-Saharan Africa's second largest oil producer after Nigeria. Since 2004 its annual growth rate has passed 15 percent and it holds more than 11 billion dollars (seven billion euros) in foreign currency reserves.

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