Abstract
The objective of this research project is to study the economic development model of the Angolan economy in order to analyze the adoption of an alternative strategy capable of leveraging the economy, based essentially on alternative energies, and therefore, to demonstrate and prove the need to diversify Angola’s economic model, highlighting the benefits of a diversified versus a non-diversified economy with respect to sustainability. The first stage of the design of this empirical study involved establishing a focus group in order to construct and adjust a data collection instrument in the form of a questionnaire to be applied to a broader set of managers and informed professionals with a critical view of the country’s future and the models and alternatives to economic development and diversification of the economy on a sustainable basis. Energy plays a fundamental role in Angola’s economic and social development. Excessive dependency on the oil sector and inefficient production due to high costs, combined with changes in global environmental and energy policies, make it essential to reflect on the evolution of the country’s energy sector, equating a different economic development model, the diversification of the economy, and the exploration of other sources of energy, such as biofuels. Renewable energies emerge as a safe, healthy, environmentally friendly and economically viable energy alternative that could bring the Angolan economy closer to that of developed countries. Biofuels have become popular and have begun to be seen as a valid alternative to fossil fuels because they have lower production costs and they cause less impact on nature. Furthermore, since they are biodegradable, they can be commercialized at a lower cost from renewable sources. According to the respondents, the research results show that the best energy alternatives to reduce oil dependency are solar energy, biodiesel, hydraulic energy, and bioethanol. An assessment of the attractiveness and potential of biofuels show that the best alternative is bioethanol, followed by biodiesel.