The ship carrying more than 30 people was part of a Catholic maritime procession in the southern African nation when it sank off the Island of Luanda on Saturday, police said.
Spokesperson Hermenio Cazucuto told AFP that six people had died and that 17 others had been rescued.
Four people were in hospital in critical condition and three others were still missing, he added, saying that search efforts were ongoing on Monday.
The incident happened about two miles off the coast of the port city.
A spokesperson for the fire emergency services Maina Panzu told AFP that two of the deceased were children aged four and six.
The cause of the accident was unknown. Panzu said “negligence” from the captain was a suspected cause of the accident, adding he had gone missing.
Local media outlet Angola24Horas reported that the boat was carrying excess passengers and that the accident involved a fishing boat in an area with “many waves”.
In a statement on Sunday, Angolan President Joao Lourenco sent his condolences to “the families directly affected by this tragic accident.”
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© Agence France-Presse