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Mozambique’s economy expected to increase growth in 2020

24 January 2020
| Mozambique
Economic growth in Mozambique is expected to accelerate to 4.2% in 2020, after it was limited to 1.0% in 2019 due to the impact of cyclones Idai and Kenneth, which caused significant human and material damage in the north and centre of the country, according to the latest report on the country by the Economist Intelligence Unit.

Inflation rate in 2019 in Macau falls to 2.75%

24 January 2020
| Macau
The rate of inflation in Macau in 2019 was 2.75%, 45 basis points less than in the previous year, of 3.01%, said the region's Statistics and Census Bureau.

Angola expected to record economic growth of less than 1.0% in 2020

24 January 2020
| Angola
The Angolan economy is expected to record a modest recovery in 2020, which will result in a growth of less than 1.0%, according to the latest briefing from the Office of Economic Studies of Banco de Fomento Angola.

Angolan Parliament approves new family of kwanza banknotes

24 January 2020
| Angola
The introduction of the new family of kwanza banknotes with an image of just the first President of Angola, Agostinho Neto, will be progressive, particularly for notes of higher face value, the governor of the Angolan National Bank said on Thursday in Luanda.

Rains delay prospecting in the Búzi block in Mozambique

24 January 2020
| Mozambique
The delay in organising equipment and the rainfall in central Mozambique have led to a delay in drilling the first onshore oil and gas test well in the Búzi block, in Sofala province, said the president of the National Oil Institute.

Cabo Verde Sovereign Fund should be operational in 2020

24 January 2020
| Cabo Verde
The process of setting up the Cabo Verde sovereign fund with a capital of €90 million, is underway, and the fund should become operational this year, the deputy prime minister and minister of Finance of Cabo Verde, Olavo Correia said.

China authorises the import of melon from Brazil

23 January 2020
| Brazil | China
The General Administration of Customs China (GACC) announced it had approved the import of melon from Brazil, following an agreement reached between the two countries in November 2019, said the Brazilian Ministry of Agriculture, Livestock and Food Supply.

Angola negotiates the end of oil-backed debt with China

23 January 2020
| Angola | Brazil | China
The government of Angola is negotiating with its Chinese counterpart to end the use of oil as a guarantee for bilateral debt, said in London, the Angolan Minister of State for Economic Coordination, Manuel Nunes Júnior.

The minimum wage in Cabo Verde increases to US$150 in 2021

23 January 2020
| Cabo Verde
The minimum wage in Cabo Verde will increase to 15,000 escudos (US$150) per month in 2021, after increasing from 11,000 to 13,000 escudos, the country's prime minister said on Wednesday in Praia in a speech to parliament.

Angola will have its first digital bank in 2020

23 January 2020
| Angola
The first digital bank operating in Angola, called DUBank Angola, is scheduled to open in the first quarter of this year, after an initial investment of US$12 million, its chief executive said on Wednesday in Luanda.

Mozambique’s financial sector receives support from the United Kingdom

23 January 2020
| Mozambique
Financial Sector Deepening Moçambique (FSDMoç) will receive approximately 15 million pounds from the United Kingdom to begin a new phase of development of the financial sector in the country, according to an announcement made by the Secretary of State for International Development of the United Kingdom, Alok Sharma, on the sidelines of the UK-Africa Investment Summit, held in London.

Galp Energia announces first test oil well in São Tomé and Príncipe

23 January 2020
| Portugal | São Tomé and Príncipe
Portuguese oil group Galp Energia will drill its first test well in block 6 of the São Tomé and Príncipe Exclusive Economic Zone at the end of this year or beginning of 2021, the group's production and export director said on Wednesday in São Tomé.

The United Kingdom provides 64 million pounds to support projects in Mozambique

22 January 2020
| Mozambique
The government of the United Kingdom has pledged to provide 64 million pounds to finance projects in Mozambique to support the agricultural sector, to increase access to electricity and the economic empowerment of women, according to a statement from the British High Commission in Mozambique.

Forum Macau analyses report on its 15 years of activity

22 January 2020
| Angola | Brazil | Cabo Verde | China | Guinea-Bissau | Macau | Mozambique | Portugal | São Tomé and Príncipe | Timor-Leste
Forum Macau has analysed the report prepared by the Chinese Academy of Social Sciences on the activities of the institution in its 15 years of existence, according to information from the Support Office of the Permanent Secretariat of Forum Macau.

Case of Mozambique’s hidden debts due to be taken to court in 2020

22 January 2020
| Mozambique
The main case of the so-called hidden debt scandal in Mozambique is expected to be judged later this year, as one of the steps towards discovering the truth, accountability of the perpetrators and recovering the value involved in the fraud, Mozambican newspaper Notícias reported.

Workers to have priority in the privatisation of Angolan state oil company Sonangol

22 January 2020
| Angola
The workers of Angolan state oil company Sonangol will be given priority in the company’s privatisation process, due to be conducted through a public offer of sale on the stock exchange, the Minister of Mineral Resources and Oil said on Tuesday in London.

Sonair transfers workers to Angola’s flagship airline

22 January 2020
| Angola
One hundred and thirty employees of the Sonair airline will become staff of Angolan flagship carrier TAAG, the chairman of the subsidiary of Angola’s national oil company Sonangol said on Tuesday, in Luanda.

Fewer people arrive in Macau by sea in 2019

22 January 2020
| China | Macau
The number of visitors who chose sea transport to travel to Macau in 2019 fell by 39.5% to 6.26 million people but remained in second place for visitor entries into the territory, the region's Statistics and Census Bureau said.

Cabo Verde’s ports to be handed over to private managers

21 January 2020
| Cabo Verde
The ports of Cabo Verde and its port services will be privatised, and the process is due to be launched by the end of the first half of the year or the beginning of the next half, according to broadcaster RFI citing statements from the minister of Maritime Economy.

Multinational companies subject to new rules in Macau

21 January 2020
| Macau
An administrative regulation called "Regulation of registration on the activities of the multinational enterprise group" shall enter into force on Sunday, 26 January in Macau, after the Executive Council recently concluded the discussion of the project, according to official information.

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