The purpose of this study is to examine how the learning process of four Swedish firms in the emerging market Angola works. Theoretical framework developed identified different theory streams such as; experiential learning, networks and incremental steps derived from internationalization theory. These theories we believed would explain the learning process in a market characterized by growth and risk factors. We have interviewed managers operating in Angola at four Swedish MNC‟s, in which we identified patterns of learning between the firms. Having analyzed elements from empirical and theoretical framework it can be clearly seen that firms learn through experiential learning and networks. These two factors can take different pattern forms as it depend on the MNC‟s industry and the firms experience from previous activities in Angola and nearby countries i.e. incremental steps. Added to the developed framework are previous experience and the institutions in the market. These five elements are interrelated, however, firms can learn about the market in a more effective way by understanding the institutional factors that are present.