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Mozambican electricity grid to receive power from solar plant

25 May 2018
| Mozambique
Mocuba's electrical substation in Mozambique will be renewed to allow interconnection to the country's first large-scale solar power plant currently under construction, said Siemens Moçambique, the company awarded the contract.

Dubai group builds solar power plants in Mozambique

25 May 2018
| Mozambique
The Dubai-based Phanes group is to build three photovoltaic plants to supply electricity to areas of Niassa province in northern Mozambique under a memorandum of understanding to be signed on Tuesday, local officials said.

Bank of Angola merges liquidity-providing and market benchmark interest rates

25 May 2018
| Angola
The Monetary Policy Committee (CPM) of the National Bank of Angola decided to reduce the interest rate on the marginal lending facility by two percentage points, from 20% to 18% and merge it with the BNA Rate, the benchmark market rate, the central bank said in a statement released on Thursday in Luanda.

Angola’s economy is expected to see a growth of between 2.2% and 2.5% in 2018

25 May 2018
| Angola
Angola's economy is expected to grow between 2.2% and 2.5% this year due to the increase in both the price of oil and production of natural gas, the resident representative of the International Monetary Fund (IMF) said on Thursday in Luanda.

Bank of Cabo Verde approves the takeover of Banco Internacional by Bahraini company

25 May 2018
| Cabo Verde | Portugal
The Bank of Cabo Verde approved the entry of IIBG Holdings into the share capital of Banco Internacional de Cabo Verde (BICV), with the company incorporated in Bahrain now holding a 90% stake, the Cape Verdean central bank said in a statement on Thursday.

Angola’s extraordinary revenue should be used to reduce public debt, IMF says

24 May 2018
| Angola
Any extraordinary tax revenues should be used to eliminate domestic arrears to suppliers and reduce public debt, the International Monetary Fund (IMF) recommended to the Angolan government in its annual review of the Angolan economy under Article IV of the institution.

Angola signs a loan for strategic projects

24 May 2018
| Angola
Angola has taken on a US$700 million loan from Credit Suisse to cover strategic projects, and the respective contract was approved in a presidential dispatch published in the country's official gazette, Diário da República.

British Airways stops flying to Angola

24 May 2018
| Angola
British Airways will carry out its last flight from London Heathrow to Luanda on 7 June, with a return flight scheduled for the following Saturday, 9 June, announced the airline on the global system of reservation and purchase of air tickets used by travel agents.

International Finance Corporation supports Cabo Verde SMEs

24 May 2018
| Cabo Verde
The International Finance Corporation (IFC) has granted a credit line worth 5.0 million euros to Banco Caboverdiano de Negócios (BCN) to provide consultancy services to small and medium-sized enterprises, the Cape Verdean bank said in a statement.

Company that extracts graphite in Mozambique prepares to build factory in the United States

24 May 2018
| Mozambique
Syrah Resources has signed an agreement to buy an industrial site in Vidalia, Louisiana, in the United States, where it will build a factory for production of battery components, the company said in a statement released on Wednesday.

Thai company seeks 100,000 hectares of land in Mozambique to produce pulp

23 May 2018
| Mozambique
A company from Thailand intends to obtain the right to use a 100,000-hectare plot of land in Mozambique to plant trees for pulp production, the permanent secretary of Thailand's Ministry of Trade announced in Maputo, according to the Mozambican press.

Mozambique negotiates with China to build vocational training institute

23 May 2018
| China | Mozambique
The Mozambican government is negotiating with China to finance and build a vocational and technical training institute in Gorongosa, in the centre of the country, according to a statement from the Ministry of Science, Technology and Higher and Technical Education.

World Bank studies business environment in Mozambique

23 May 2018
| Mozambique
The results of a study on the business environment in ten Mozambican cities this year as part of an assessment that will focus on small and medium-sized enterprises will be announced in the first quarter of 2019, according to a World Bank statement released in Maputo.

British company builds gas-fired power plant in Mozambique

23 May 2018
| Mozambique
Great Lakes Africa Energy will "develop, finance, build, own and operate a 250-megawatt gas-fired power plant," in Mozambique according to a statement quoted by Mozambican newspaper Notícias, adding that the British company and the government of Mozambique signed a memorandum of understanding for the use of natural gas from the Rovuma basin.

São Tomé e Príncipe launches tender for oil block prospecting

23 May 2018
| São Tomé and Príncipe
São Tomé and Príncipe's National Oil Agency (ANP) has launched a public tender to receive expressions of interest in the oil prospection of block 01 and the 55% stake in block 02 of the country's Exclusive Economic Zone (EEZ), according to an official statement.

Brazil increases types of products to be exported to China

21 May 2018
| Brazil | China
The types of goods to be exported by Brazil to China will be increased, with the inclusion, for example, of rice, dairy products, flour for the production of animal feed and fertilised eggs, said the Minister of Agriculture, Livestock and Supply of Brazil, cited by the country's press.

Tourists from China spend €130 million in Portugal in 2017

21 May 2018
| China | Portugal
Tourists from China spent €130 million in Portugal in 2017, 40% more than a year earlier, an amount that is catching the attention of Portuguese retailers, said Luís Filipe Silva, a member of the governing board of Turismo de Portugal.

Lack of investment leads to decline in Angola’s oil production

21 May 2018
| Angola
Angola's current decline in oil production is due to a lack of investment in prospecting, surveying and exploration segments, said the Minister of Mineral and Oil Resources Diamantino Azevedo, speaking in Porto Amboim at the First Consultative Council of the Ministry of Industry.

Angola’s Alassola places more than 450 tons of cotton thread on the Portuguese market

21 May 2018
| Angola | Portugal
Angolan textile company Alassola exported 454 ton of cotton thread to Portugal between October 2017 and 12 May under the business' internationalisation project, industrial director Hioshi Yamamoto said on the sidelines of the 8th edition of the Benguela International Fair (FIB), which ran from 16 to 20 May.

The new law on private investment in Angola reduces the tax burden on projects

21 May 2018
| Angola
The reduction of tax rates to be applied to projects is one of the main benefits that Angolan and foreign investors will have with the entry into force of the new wording of the Private Investment Law, unanimously approved on Thursday by members of the Angolan parliament, Angolan news agency Angop reported.

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