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Angolahub

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.

Angolan group invests in printing plant

15 January 2016
Angolan group Packgem plans to invest US$30 million in building a printing plant on the outskirts of Luanda, according to a contract signed with the Technical Unit for Private Investment (UTIP). The plant, the investment contract of which grants the group several tax incentives, will be built in the Industrial Area of ​​Kikuxi in Viana. It will have an installed capacity to produce 686 million packages and print 360,000 tons of paper per year.

BP group’s operations in Angola affected by lay-offs

15 January 2016
The activities of the BP oil group in Angola will be affected by the announced dismissal of 4,000 workers worldwide over the next two years, the group's spokesman told the Financial Times. The spokesman did not specify, however, whether there would be layoffs or just containment of costs and recognised that the measures to be taken "are related to the need to be more competitive in a business environment with increasing challenges."

Novagrolider company invests in agriculture and livestock in Angola

14 January 2016
Agro-livestock group Novagrolider plans to invest US$15.1 million in farming and processing of horticultural products in Angola under a contract signed Wednesday in Luanda, the local press reported. The contract was signed by the Director of the Technical Unit for Private Investment (UTIP), Ernesto Manuel Norberto Garcia and group director, João Macedo.

EU finances agro-pastoral projects in Angola

14 January 2016
The European Union (EU) will this year apply 9 million euros to two projects in Angola to support agro-pastoral communities affected by drought in the provinces of Huila, Cunene, Benguela, Namibe and Huambo, said the FAO representative for the southern region of Angola. Matteo Tonini also told Angolan news agency Angop that the funding comes from the European Development Fund (EDF), whose total value for Angola is estimated at 210 million euros.

EU funds second phase of livestock project in Angola

13 January 2016
The European Union this year will contribute 5 million euros to finance the second phase of the Sanga project in Angola, said Tuesday in Lubango the representative of the United Nations Food and Agriculture Organization (FAO). The Sanga project focuses on building infrastructure to support the development of livestock farming in five provinces of Angola - Huila, Benguela, Namibe, Cunene and Huambo - the second phase being the construction of 15 municipal veterinary pharmacies.

Tax debtors will be taken to court in Malanje, Angola

13 January 2016
Economic operators who evade paying taxes will be held criminally liable and brought to justice, the director of the provincial tax office, André Gonçalves said in the city of Malanje. Cited by news Angolan agency Angop, Gonçalves said that many agents do not comply with the law, and the tax office was preparing enforced collection procedures, which may include freezing the amounts owed or even confiscation of assets.

Money laundering under control in Angola

13 January 2016
Angola has made considerable progress in adopting more stringent requirements for prevention of money laundering and terrorist financing, said the Governor of the National Bank of Angola (BNA). José Pedro de Morais Júnior said in a statement Tuesday that besides producing regulations, the BNA had been issuing guidelines and standards reflected in the Financial Action Task Force recommendations, known by the acronym FATF/GAFI.

Angola wants self-sufficient water and electricity companies

12 January 2016
Water and electricity supply and production companies should be self-sustaining, and no longer require public funding, said Angola's Minister for Energy and Water, João Baptista Borges. Cited by local media the minister said that these companies had to ensure sufficient revenues to remain in operation, ensure the implementation of their investment plans, "without having to resort to funding from the state budget."

ENI group starts operating new oil well in Angola

12 January 2016
Italian group ENI has started oil extraction n the Mpungi field in deepwater block 15/06 in Angola, 350 kilometres northwest of Luanda and 130 kilometres west of Soyo, according to a statement issued Monday. The beginning of oil extraction in the "West Hub" project will allow the group to increase production to about 100,000 barrels of oil equivalent (BOE) per day in the first quarter of 2016.

Organic statute of Angolan Road Fund approved

11 January 2016
The Angolan Road Fund, an organisation that will bring together all financial resources for the conservation and maintenance of the country's road network, has had its organic statute approved by presidential decree, according to Angolan news agency Angop. The Fund will have the basic function of reviewing and approving all proposals submitted by the Angolan National Roads Institute (INEA), the provincial governments and municipal administrations for the inclusion of those projects in the Annual Angolan Roads Conservation and Maintenance Programme.

Angolan company invests in production of medical dressings and gauzes

11 January 2016
Angolan company Medvid will invest US$24 million in building a factory for production of dressings and medical gauzes, under a contract signed Friday with the Technical Unit for Private Investment (UTIP). The investment will be used for construction of the factory facilities, buildings and warehouses, as well as to purchase machinery and equipment needed to operate the factory.
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