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Angolahub

National Bank of Angola “rationalises” foreign exchange available to commercial banks

29 January 2016
The governor of the National Bank of Angola (BNA) said Thursday in Luanda that the BNA is promoting the "rationalisation" of foreign exchange to commercial banks, but gave assurances that the resources available for 2016 "are enough", according to Angolan news agency Angop. "For 2016, we have enough resources to generate the growth rates we have pointed to or that will be established within the framework of the Government's investment programme" said José Pedro de Morais Júnior.

Angola plans to double diamond production by 2018

28 January 2016
The Chairman of the Board of Directors of Angolan national diamond company Endiama, Carlos Sumbula has said diamond production in Angola may double in the next three years.

Government of Angola takes steps to tackle oil price drop

28 January 2016
Angola approved Wednesday in Luanda, a series of measures to tackle the crisis resulting from the sharp drop in oil prices in the international market, according to Angolan news agency Angop. A statement from the Council of Ministers said "a set of measures on matters of taxation, monetary policy, foreign trade and the real sector of the economy, in order to reduce the impact of the shortage of foreign currency in the national economy."

Chinese companies to build infrastructure in three Angolan provinces

28 January 2016
The government of Angola opened on Wednesday, a public tender for Chinese companies to build infrastructure in the provinces of Luanda and Bié under the financial cooperation agreement signed with the China Development Bank, to fund Priority Public Investment Projects. The work will be carried out in Cacuaco (Luanda), Cuito and Cunje (Bié) and in the city of Uige.

Angola bans cement imports in 15 provinces

28 January 2016
The Angolan government decided to maintain the cement import ban in 2016 in 15 provinces, claiming that the installed capacity in the country far exceeds domestic needs, according to Angolan state news agency Angop. This decision does not apply, however, to the border provinces of Cabinda, Cunene and Kuando Kubango, which will continue to have an exceptional annual quota of individual of 150,000 tons.

Rice factory in Malanje, Angola, starts production in mid 2016

27 January 2016
The Angocentric Malanje Industrial rice mill, in the Angolan city of Malanje, is expected to start operating in the first half of this year, with a husking and packaging capacity of 40 tons of rice a day, according to Angolan state news agency Angop. José Marcos, the head of the factory, said Angolan development bank Banco de Desenvolvimento Angolano had funded the US$8 million project.

Assembly of first turbine at Cambambe dam power station, inAngola, enters final stage

26 January 2016
The assembly of the first power turbine at power station II of the Cambambe dam in the Angolan province of Kwanza Norte, is in the final stages, the director of the construction company responsible of the US$40 million project told Angolan news agency Angop.

China supports development of Kwanza Sul province, Angola

26 January 2016
The Chinese ambassador to Angola, Cui Aimin, gave assurances that his government would support the modernisation of Angolan state fishing company Peskwanza to catch, located in Porto Amboim in central Kwanza Sul province, to catch, process and market fish. During the visit, the ambassador saw the poor condition of the the company's facilities.

Angola will produce wheat flour from 2017

25 January 2016
Angola will start producing its own wheat flour in 2017, in Huambo province, the minister of Industry, Bernarda Martins, said in Luanda. The minister said that the future plant would have a production capacity of about 1,200 tons, of which 900 tons of flour and the remaining 200 tons of bran.

Credit line from China focuses on water and energy sectors in Angola

22 January 2016
About half of China's Credit Line (CCL) granted to Angola will be used in 34 projects in the field of energy and water, particularly the rehabilitation and strengthening of the water supply system to Cabinda costing US$209 million.

Angola reduces oil production in December 2015

22 January 2016
Angolan oil production declined in December 2015 to 1.751 million barrels per day, 17,200 barrels per day less than in the previous month, according to the monthly report from the Organization of Petroleum Exporting Countries (OPEC) published recently. All together, the 12 OPEC countries reduced their production from November to December by 210,600 barrels per day. In total, OPEC, citing "secondary sources" in December produced 32.182 million barrels of crude oil per day.

Sonangol will search for gas in 540 square kilometres off the coast of Angola

21 January 2016
The Government of Angola has granted the rights to natural gas development and production in an offshore area of 540 square kilometres to state oil company Sonangol, Portuguese news agency Lusa reported. Lusa said mining rights were granted to Sonangol to develop and produce hydrocarbons in the area of block 2/15, in a total of 512.8 square kilometres, and the 6/15 block, with an area of ​​34.085 square kilometres.

Israel interested in investing in agriculture and water in Angola

21 January 2016
The Israeli ambassador to Angola, Raphael Singer said in Namibe that his country was interested in investing in the agricultural sector and water in Angola contributing to the diversification of the Angolan economy and combating desertification, particularly in Namibe province. The diplomat recalled that Israel's experience of the wilderness can be used in recovering Namibe desert areas for agriculture through irrigation systems already tested successfully in Israel.

Sovereign Fund of Angola supports social projects in seven provinces

21 January 2016
The Angola Sovereign Fund for Development (FSDEA) is financing 10 projects in health, education, water supply and entrepreneurship in the provinces of Cabinda, Bengo, Huambo, Bié, Cunene, Benguela and Kwanza Norte valued at US$12 million. The Director of the FSDEA funded African Foundation for Innovation (FAI), Carlos Figueiredo, said that about 3,000 farming households and 15 micro and small businesses are being formed by the FAI to supply essential goods and services to communities, in partnership with the FSDEA.

Standard Bank Angola sets limits on purchases with Visa

20 January 2016
Standard Bank Angola has decided to set limits on transactions with Visa cards abroad because of the difficulty in obtaining foreign currency, the bank said in a letter to customers. The letter, cited by financial news agency Bloomberg said the monthly limit per customer is US$504, including internet shopping, and will be put in place on 21 January.

Diamond production in Angola expected to total 8.96 million carats in 2016

19 January 2016
Diamond production in Angola is expected this year to reach 8.96 million carats, an increase of 1.4 percent compared to 8.83 million carats produced in 2015, according to a forecast in a document from the Ministry of Geology and Mining. The document said that this production will be achieved through the contribution of the industrial sector, with 8.1 million carats and the artisanal mining segment, which is expected to extract 860,000 carats.

Government issues debt to capitalise Banco de Desenvolvimento de Angola

19 January 2016
The government of Angola has approved a special issue of Treasury Bonds worth 27,4 billion kwanzas (US$175.2 million dollars) in order to capitalise Angolan state development bank Banco de Desenvolvimento de Angola (BDA), according to a presidential order. The special issue, in local currency, has an amortisation period of 24 years and pays an interest rate of 5 percent.

National Bank of Angola increases sales of foreign currency to commercial banks

19 January 2016
Retail banks operating in Angola were able to buy foreign currency in the amount of US$187 million from the National Bank of Angola throughout the week of 11-15 January, according to a statement issued by the Angolan central bank. Sales of foreign currency, which appear in weekly reports on developments in money and foreign exchange markets, were only US$7.5 million in the first week of 2016 and US$135.1 million in the last week of 2015, the lowest figures in the last three months.

Diamond producers, such as Angola, launch advertising campaign and reduce supply

18 January 2016
The world's diamond producing countries will next May launch an advertising campaign and are reducing the amount of diamonds available on the market in order to increase demand and prices, the chairman of Angolan diamond company Endiama said in Luanda. Carlos Sumbula, who was speaking at a celebration of the 35th anniversary of the Angolan diamond company, said the ad campaign had been commissioned from a firm in Las Vegas, and would run alongside an intentional reduction in supply, which would lead to a price rise starting this year.

Portugal delivers geological collection from diamond prospecting to Angola

18 January 2016
Portugal will deliver to Angola a geological collection that is over 100 yeas old elated to diamond prospecting in the African country, under an extrajudicial settlement between Sociedade Portuguesa de Empreendimentos (SPE) and Angolan state diamond company Endiama. The information was announced in Luanda by the president of Endiama on the sidelines of the celebrations of the company's 35th anniversary on Friday. He added that through this agreement and the end of its diamond prospecting activities in Angola, Portuguese state company SPE would receive US$130 million.
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