Angola has taken another step in the internationalisation strategy of its insurance sector by signing, on 13 April in Luanda, a co-operation agreement with the Monetary Authority of Macao (AMCM), paving the way for the entry of Chinese insurers into a market that is still in an expansion phase.

The initiative, led by the Chairwoman of the Board of Directors of the Angolan Agency for Insurance Regulation and Supervision (ARSEG), Filomena Manjata, is part of a broader strategy to attract foreign investment and strengthen the technical and regulatory capacity of the sector in Angola.

"China is a vast market with extensive experience in the insurance sector, and Macao has established itself as a platform for engagement with Portuguese-speaking countries," the official said, as quoted by Lusa, highlighting the agreement's potential as a catalyst for new dynamics in the domestic market.

Filomena Manjata also emphasised the favourable context for Sino-Angolan co-operation, pointing to the strong presence of Chinese citizens and companies in Angola, as well as the still-untapped opportunities in the insurance sector. Against this backdrop, engaging with the Chinese financial ecosystem emerges as a strategic pathway to accelerate the development of the local market.

(Source: Forbes África Lusofonia, on 13 April)