Benguela — Angolan President João Lourenço has named diversifying the oil-dependent economy as his top priority after he became the country’s first new leader in 38 years. One natural and readily available resource that has been identified is fish — but a lack of equipment and know-how has meant the industry has struggled. Lourenço, part of the MPLA party that has ruled Angola since 1975, took office in September promising to deliver an "economic miracle" that would transform the Southern African nation, where the UN says more than half of the population lives on less than $2 a day. The collapse in 2014 of the price of crude oil, which provides 70% of all revenues and nearly all hard currency, put immense pressure on the country to diversify. Even though global oil prices have since recovered somewhat, Lourenço still plans to push forward. He is betting the 1,600km of Atlantic coast could provide a fishing bonanza. "The diversification of the economy is our priority," Lourenço said ...
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