Angola Part 1
The original report was published in the Bloomberg Businessweek on Monday, March 7, 2011
Escom is taking Luanda skywards
Angola’s largest non-petroleum-based company, Escom continues to build its presence in Africa
Escom is a trading and commercial group that, since being founded in 1993, has become one of the biggest investors in the Angolan economy. Helder Bataglia, Escom chairman and one of its founders, oversees its investments and at the same time makes sure the company helps the country to develop economically and socially.
“We’re a company that is conscious and aware that in addition to investing and creating wealth in Angola, we try to develop innovative social responsibility policies in the regions where it operates,” says Mr. Bataglia.
Escom is active in several different sectors of the economy, such as real estate development, diamond mining, petroleum, construction and, through its part ownership of a cement factory, construction supply.
Escom is one of the biggest real estate developers in Angola, and is also planning to enter the market in the Republic of Congo.
The company’s first real estate project was the Escom Building, a 24-story office tower in the center of Luanda and holds Escom’s headquarters. The building is part of the company’s Sky Center project in one of the best areas of the capital, which when finished will comprise four towers: the Escom Building, two residential buildings (Sky Residence I and II), and another office block (the Sky Business building.) Altogether Escom is involved in 16 development projects consisting of 1.8 million square meters.
Escom is also heavily involved in the diamond mining industry, having invested $430 million in the sector since 2001. It is opening new mines and is investing more in exploration than any other company in Africa.
“We are a company open to new challenges and opportunities,” says Mr. Bataglia.
THIS SUPPLEMENT WAS PRODUCED BY VISTA REPORTS
PROJECT: Joel Malo and Saturnino Izquierdo
AREA - comparative:
GDP - composition by sector:
AGRICULTURE - products:
EXPORTS - commodities:
EXPORTS - partners: