Angola: Oil and Chinese Beer Are Flowing Freely
China flag on the background of the world map with oil derricks and money

The China Investment Fund (CIF), a Hong Kong based syndicate founded by well-connected Cantonese entrepreneurs, recently opened a US$180 million brewery in Angola’s capital, Luanda. Xinhua reports that Angolans seem to be enjoying the new locally brewed Chinese beer. The Vice President of Angola, Manuel Vincente, was known to be a partner in CIF during the same time that he was CEO of Angola’s state-owned oil company, Sonangol (he was elected to public office in 2012). It seems CIF, along with its African partners, has interests lying far beyond breweries, having signed contracts worth billions of dollars for oil, minerals and diamonds from Africa over the past decade. Angola is one of China’s largest oil suppliers.

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