The Mozambican economy has continued to lose steam during the year, owing to the fall in commodities prices in international markets.
The implementation of the African Continental Free Trade Area (AfCFTA), which includes the Portuguese-Speaking countries, enhances the attractiveness of the continent for industrial investment from China, according to Jeremy Stevens, chief economist of the South African Standard Bank responsible for China.
Angola’s economy has been undergoing a prolonged recession since 2014, with oil production declining and oil prices subdued. Not only is the recession expected by independent analysts to continue, but now Angola’s second export – diamonds – is also taking a hit.
Cabo Verde's 2020 State Budget (OE), approved on 29 November, forecasts an acceleration of economic growth and a continuation of the fall in the country's high debt burden, one of the main weaknesses of the Cape Verdean economy.
Angola will only return to economic growth in 2021, when the economy's growth rate is expected to reach 2.4%, after falling 3.8% this year and 1.4% in 2020, according to the latest country report produced by the Economist Intelligence Unit (EIU).
Portuguese-speaking countries in Africa are “a hotspot for investor interest”, says Mateus Magala, Vice-president of the African Development Bank. According to the Mozambican national, “the time is now” to invest in these countries, because of economic reforms, a burgeoning middle class and regional diversity against the background of the new African Continental Free Trade Area.
Chinese group Huawei will increase its support for StartUP Portugal, the public company responsible for boosting young technology-based companies, under a partnership agreement recently signed in Lisbon.
The expansion of global trade was an important theme of the 2nd International China Imports Exhibition, during which a set of agreements favouring Macau as a trading platform between Portuguese-speaking countries and China was signed.
Brazil and Cabo Verde were among the countries to introduce the most reforms throughout 2018 to improve their business environment, although this was not enough to prevent their decline in the World Bank benchmark index.
The value of Angola’s currency, the kwanza, has more than halved, since the central bank implemented a floating exchange rate regime as part of its macroeconomic stabilisation programme (MSP) in January 2018.
Macau has an important role to play as a “knowledge centre” in the Guangdong-Hong Kong-Macau Greater Bay Area (GBA) project, according to some of the leading Sino-Lusophone researchers.
Bringbuys Web Technology will help promote Cabo Verde in Asia through a new portal to be developed following a protocol signed at the Macau International Fair (MIF 2019), said Ana Lima Barber, president of the Cape Verdean trade and investment promotion agency.
As LNG projects in the north of Mozambique progress, the government faces two major hurdles: financially, to find capital for its share of the investment needed to develop the Rovuma basin world-class natural gas reserves, which could top US$1 billion; militarily, to ensure safety in Cabo Delgado province from Islamist insurgents. In both instances, Russia has come to the rescue.
Mining company Jinan Hi Tech will help bolster China's presence in Mozambique's graphite extraction and processing after receiving authorisation from China's National Development and Reform Commission to buy a 34.01% stake in Australia's Triton Minerals.
To coincide with the launch of a new biography written by his grandson, we look at the life and times of Pedro José Lobo
Cabo Verde is among the most attractive tourist markets in West Africa at a time when the continent is increasingly attracting tourism investment, according to an assessment released by Hospitality and Tourism International (HTI) Consulting.
The good momentum of the Portuguese real estate market continues to attract more and more investors, mainly Chinese. Now, with a few major infrastructure projects set to be launched in the country, including Port of Sines’ new terminal valued at US$640 million, Chinese construction companies are showing interest in partnering with, or even acquiring, Portuguese counterparts.
Angola and Mozambique are among the highest-risk African countries, albeit with an upward trend in returns for investors, according to the Risk-Return Index 2019, a study by consulting firms Oxford Economics and Control Risks.
European companies, especially in the construction sector, have long complained that Chinese official credit lines make them less competitive vis-a-vis Chinese counterparts in African countries. With a new alliance agreement between Europe and Africa, the business sector is confident that the playing field can be levelled.
Chinese telecommunications group Huawei is involved in the launch of 4G and 5G mobile network technologies in Mozambique and Cabo Verde, which are expected to help boost the economies of both countries.