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Belt and Road

China helps Angola develop fisheries and sea sector
18 January 2019

Governor of the National Bank of Angola admits more banks may close

18 January 2019
| Angola
The governor of the National Bank of Angola has admitted more banking licenses may be revoked in the country, two weeks after the licenses of Banco Mais and Banco Postal were revoked, financial news agency Bloomberg reported.

Mozambique sets up gold trading warehouse in Manica

18 January 2019
| Mozambique
Mozambican state-owned Empresa Moçambicana de Exploração Mineira (EMEM) will set up a commercial warehouse in the province of Manica for the purchase and sale of gold mined in the province, the deputy minister of Mineral Resources and Energy announced on Thursday.

Government of São Tomé and Príncipe appoints new Oil Agency director

18 January 2019
| São Tomé and Príncipe
The new government of São Tomé and Príncipe has appointed lawyer Olegário Tiny as the executive director of the National Oil Agency, according to a decision to which Macauhub had access in São Tomé.

Cabo Verde considers opening embassy in Guinea-Bissau

18 January 2019
| Cabo Verde | Guinea-Bissau
The Cape Verdean government intends to open an embassy in Guinea-Bissau, which is expected to happen in 2020, said Cabo Verde's (Cape Verde's) new ambassador to Guinea-Bissau, Inacio Felino de Carvalho.
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Features

Economic outlook improves for Angola, Cabo Verde and Mozambique

14 January 2019

The World Bank has revised its economic growth forecasts for Angola, Cabo Verde (Cape Verde) and Mozambique in 2019 and 2020 upwards, unlike Guinea-Bissau.

Mozambique looks for LNG financing despite market scepticism

11 January 2019

The government of Mozambique has been involved in the last few weeks in intense negotiations with seven countries to secure funding for one of its largest natural gas projects and overcome scepticism about whether it will honour its debt commitments. The Rovuma Area 1, in the Rovuma Basin, involves an estimated investment of US$25 billion.

Extractive industry boosts Mozambican economy, but country needs a broader growth model

7 January 2019

The extractive industry has been boosting Mozambique's economy and will increasingly do so with the start of natural gas exploration in 2023, but the country needs a broader growth model, according to the World Bank.

Reform at last for Angolan oil

4 January 2019

The Angolan government appears determined to reform oil company Sonangol in an effort to reverse the country’s declining oil fortunes. President João Lourenço has made it clear that he intends to overhaul the firm ever since he replaced Isabel dos Santos with Carlos Saturnino as chairperson of the parastatal.

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