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ANGOLA - Economy

Mohamed Siyame

President, Chamber of Commerce and Industry Angola-Saudi Arabia (CCIAAS)


Mohamed Siyame is a leading businessman, operating in the oil and gas, construction, agriculture, and services sectors in Angola and Mauritania. He has established himself as a respected actor with solid experience in business administration, negotiations, policy planning, and good project governance. He has excellent international networks: political, administrative, private entrepreneurship, and civil society. His career is marked by charitable commitments; since 2005, he is General Secretary of the National Association for the Promotion of Women in the Protection of Children and the Environment in Mauritania. In 2022 he founded a food bank in Mauritania. He has also studied public law at the University of Nouakchott, and completed advanced training in finance, accounting, and business administration. He is fluent in Arabic, English, Portuguese, and French.

"Our main project is to implement the Saudi Arabia Oil Sustainability Program (OSP) which aims to promote a sustainable use of oil and its derivative which will bring diversification in other industries such as transport, logistic, construction, chemical, pushing the agenda for diversification."
TBY talks to Mohamed Siyame, President of the Chamber of Commerce and Industry Angola-Saudi Arabia (CCIAAS), about bilateral relations, investment planning, and expectations for the coming year.
CCIAAS fosters bilateral relationships between Angola and Saudi Arabia, focusing on commerce, industry, and cultural exchange. What is the role and mission of the chamber in promoting bilateral relationships between Angola and Saudi Arabia?

We created the Chamber of Commerce and Industry Angola-Saudi Arabia because we recognized the need for the Republic of Angola and Saudi Arabia to reenforce their relationship. We believe that an approximation with Saudi Arabia would foster a win-win corporation. Saudi Arabia is open and willing to share their know-how through joint ventures and other investment to unlock projects with great potential. It is also to highlight the availability of finance at a competitive rate, accessible which is attractive particularly to emerging economies like Angola and other African nations. Saudi Arabia is the largest oil producer in the world, with a daily production exceeding 10 million barrels, whilst Angola has become the leading oil producer in sub Sahara- Africa. Both countries share the comparable vision 2050 for Angola, and 2030 for Saudi. The Chamber aim to facilitate interaction between player in the private and public sector and accelerate cooperation and trade between these two countries. while prevailing critical information access and support and strategic partnership for investment.

How does the Chamber of Commerce and Industry Angola-Saudi Arabia align with KSA’s Vision 2030?

We are promoting an event at Intercontinental with the presence of the of many ministers, Angola is heading in the right direction as it has set up objectives 2050 which is clear. With the government’s initiative to stimulate the private initiative and attract international investors, Angola has signed numerous MoUs with various countries to promote investment and implement administrative reforms. Angola genuinely seeks to establish strong partnerships with Sauda Arabia. In so doing the country his making significant effort reducing the oil to GDP ratio which is still at 30% of the GDP and 85% of all exports. The chamber has developed a plethora of strategies which aim at encouraging investment flow and technology from KSA to Angola.

How does CCIAAS support companies and organizations in their investment planning and partnerships?

We received tremendous support from the Angolan Embassy in Riyadh from Ambassador Frederico Cardoso, who provided invaluable assistance and have introduced us to various government ministries. We had several meetings with key entities such as Minister of Energy (OSP), Minister of Investment and many other National and private sector companies. . We have also signed an MoU between our Chamber of Commerce and the Federation of Saudi Chambers which represents more than two thousand companies, the very first MoU signed between the Kingdom of Saudi Arabia and Republic of Angola. Our main purpose is to promote Saudi investment into Angola and stimulate Angolan private sector to invest into the kingdom of Saudi Arabia. As a chamber, it is our responsibility to share comprehensive information regarding Angola’s priorities and economic vision for the next 26 years with the Saudi Arabian investors. We have the main identified projects that are government’s priorities, with the use of Networking facilitations, well throughout business matching opportunities, information research, advisory and support of foreign investment. The chamber has access to privilege information essential to investment appraisal which enable us to diligently advise both our associate and potential investors on opportunities in Angola and Saudi Arabia. We also assist them with market analysis advocacy to ensure success. We are also fortunate to have an experienced team within the chamber, consisting of dedicated business leaders with national and international expertise who have been working hard since January 2022. Their background experience varies from Oil & Gas sector to, Agriculture, Telecommunication, general trading as well as import and export.

What are the main sectors that investors are willing to invest in Angola?

The chamber has conducted many missions in Saudi Arabia, we have engaged stakeholders both in the government and the private sectors alike. There are plenty of sector of great potential and economic benefits non only for the for the investors but also for the recipient’s country. As I have mentioned earlier there are many convergences between the countries, in that both agree that economic diversification need to occur to create economic cushion to reduce the impact of oil and gas volatility. Therefore, for both country the priority are Agriculture – Agro- industry, Petroleum and gas * Energy Sector, Mining Sector rare mineral, Logistic and transport and Infrastructure development.

What are the future projects for the Chamber of Commerce and Industry Angola-Saudi Arabia?

The Chamber is a fast-growing project due to external and internal dynamic as explain above, We are determined to attract more investments to Angola and provide a platform for Angolan investor to invest in Saudi Arabia. As true as it is that Saudi Arabia know-how is needed in Angola, it also remains true that Angola expertise is also welcome to Saudi Arabia. We envision a future where Angola boasts a diversified economy with a reduced reliance on oil and gas sector and where agriculture, industry and infrastructure strives. We aspire to promote Angola and showcase its beauty. offering abundant opportunities. We are actively committed to Vision 2050 and aim to demonstrate our dedication over the next 10 years, we believe that great synergies can be created not only between the private sector, but also with government entities both in Saudi Arabia and in Angola for mutual benefits. Our main project is to implement the Saudi Arabia Oil Sustainability Program (OSP) which aims to promote a sustainable use of oil and its derivative which will bring diversification in other industries such as transport, logistic, construction, chemical, pushing the agenda for diversification.



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