Cargo may soon be flowing again on the all-but-dormant Trans Cunene corridor between Walvis Bay and southern Angola.
Once a flagship corridor, it has been badly affected by the 2014 crash in the oil price, after which Angola’s economic growth ground to a halt and the government put curbs on the outflow of foreign currency.
Oil wealth had fuelled a consumer boom, with hundreds of cars and other consumer goods being imported via Walvis Bay for southern Angola. In April 2018 the European Union and United Nations Conference on Trade and Development (Unctad) signed a four-year agreement with the Angolan government for a ¤5.5 million ($6.9m) project aimed at helping Angola diversify its economy and reduce its dependence on oil.
