The project to extract rare-earth minerals in Angola is still underway, despite the current state of emergency, in order to ensure that the country will become a supplier in a market dominated by China and Australia.
The global economic crisis caused by the Covid-19 pandemic is expected to affect economic growth in Africa, with highly indebted countries, such as Angola and Mozambique, with a limited capacity to respond to stimulus, according to the UN Economic Commission for Africa
The agreement between the Organization of Petroleum Exporting Countries (OPEC) and non-member countries to bolster the recent fall in oil prices is expected to lead to a cut in Angolan oil production to around 1.1 million barrels per day.
The economic crisis triggered by the Covid-19 pandemic is forcing a depreciation of the currencies of Angola and Mozambique, and thus making imported products more expensive, particularly from China, according to various market agents.
The Covid-19 pandemic is putting under stress not only African countries’ health systems, but also their economies and societies, due to the lockdowns to enforce quarantines.
São Tomé and Príncipe, Guinea-Bissau and Cabo Verde last week became the first Portuguese-speaking African Countries to receive aid from the Ali-Baba foundation, owned by Chinese billionaire Jack ma, to support efforts to fight the Covid-19 pandemic.
The Covid-19 pandemic demonstrates the importance of the implementation of the African Continental Free-Trade Area (AfCFTA), which includes the Portuguese-speaking African Countries, according to the UN Economic Commission for Africa (UNECA).
The Covid-19 pandemic is taking a severe impact in the economies of China, Africa’s major trading partner, and also Europe and North America. Even with Africa not suffering an outbreak as those in other continents, the disruption of global supply chains is set to increase prices of food and other goods, for importer countries.
The strategic partnerships that China has signed in recent decades, particularly with the majority of Portuguese-speaking countries, are a major factor to boost the Belt and Road initiative (BR), according to researchers, Yichao Li and Mário Barbosa Vicente.
China has risen to become one of Mozambique´s most important trade partners. With the threat of the global economic impact the Covid-19 pandemic growing, The Bank of Mozambique (BdM) conducted an assessment of its potential damages to the country´s economy, and the prospects are worrisome. In its latest Economic and Inflation Outlook, BdM says “risks … Continue reading "Importance of trade with China exposes Mozambique to impact of Covid-19"
The scenario for the acceleration of growth in the economy of Mozambique in 2020 now faces greater uncertainty due to the global economic slowdown, due to the Covid-19 epidemic, according to Mozambican bank Moza Banco.
Guinea-Bissau has a new government, supported by a parliamentary majority, formed by the newly inaugurated president, Umaro Sissoco Embaló. Malam Sambu, the country’s long time ambassador to Beijing, is set to take over the key government folder of Fisheries.
Public-private partnerships and "patience" were essential ingredients for the success of one of the most important agricultural projects involving partners from China in Mozambique, according to one of the project's main managers, Lu Xinqing.
The Cape Verdean government’s law creating the Special Maritime Economic Zone on São Vincente (ZEEMSV) has passed through parliament and the project, supported by China, is expected to begin implementation soon.
The funding for the modernisation and expansion of the international airport of São Tomé and Príncipe will be provided by China under an agreement signed on Friday in São Tomé.
The expansion of the Port of Sines, a facility that may become part of the Belt and Road initiative, has been awarded, and now the tender for the concession of the new Vasco da Gama Terminal is underway.
Despite substantial reforms to attract investment, which have already reflected in an improvement in the global corruption perception index, the Angolan economy is still in negative territory. Heavy reliance on oil exports means Angola’s GDP is highly exposed to “contagion” from the effects of the coronavirus crisis in China.
China continues to strengthen its position as the largest bilateral creditor of Mozambique and is expected to continue as such in the coming years, due to new credits being negotiated by the governments of the two countries, according to official figures.
Angola has a high potential for agriculture on a large scale and can diversify its economy through this sector in order to overcome some constraints, according to the International Financial Corporation (IFC), of the World Bank.
Chinese companies operating at all levels of the solar photovoltaic (PV) sector have clearly identified Brazil as a key market for overseas expansion. JinkoSolar and BYD are rapidly increasing their solar module manufacturing capacity in the country, while the latter has joined CGN as solar farm operators.
