Angola Seeks Return of $2 Billion in Illegally Exported Assets — President

 Angola will seek the return of illegally exported assets totaling $2 billion. This was stated by the country's President, João Lourenço, during the opening ceremony of the new judicial year.

"We must continue to intensify cooperation with Bermuda, Singapore, and the Swiss Confederation, which globally hold nearly $2 billion already confiscated by Angolan courts in favor of the Angolan state," Lourenço said.

He called on the Attorney General's Office to strengthen cooperation with its counterparts in other states for the purpose of asset recovery. Lourenço also mentioned the possibility of signing an agreement on joint asset utilization with Namibia and the effective implementation of the procedure for returning part of the assets from Portugal, the former colonial power.

"We need these resources to use them for the benefit of our people, to build schools, hospitals, roads, and other infrastructure necessary for the country's development. ... We demand that persons holding assets belonging to the Angolan state, by decision of Angolan courts, return them to the rightful owners," he noted.

Angola's Attorney General, Hélder Pitta Grós, specified in his speech that the country is also making efforts to recover assets located in Luxembourg and the UAE.

In October 2025, a representative of Angola's Ministry of Finance reported that the country would return to the international debt market for the first time in three years, planning to raise about $1.5 billion through the placement of Eurobonds. The funds raised were intended for debt refinancing.

As one of Africa's largest oil producers after Nigeria and Libya, Angola is strengthening its budget thanks to stable prices and increased production. In recent years, the government has been implementing economic reforms, including reducing fuel subsidies and lowering public debt.