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Angolahub

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.

Cambambe dam increases electricity production in Angola

8 January 2016
The Angolan electricity grid will receive an additional 960 megawatts of power with the entry into operation of the second power plant of the Cambambe Hydroelectric Project in the province of Kwanza Norte, announced the Minister of Energy and Water.

Angola’s economy is expected to grow 3.3 pct in 2016

8 January 2016
Angola's economy is expected to grow this year by 3.3 percent, after closing 2015 with growth of 3 percent, both less than half the 6.8 percent growth registered in 2014, before the fall of oil prices, according to a World Bank report. The Global Economic Prospects report released Thursday in Washington, showed that Angola is this year expected to grow slightly more than in 2015 but remaining below the economic growth forecast for Africa as a whole, which is expected to grow from 3.4 percent in 2015 to 4.2 percent in 2016.

Angola launches tender reserved for Chinese companies

7 January 2016
The government of Angola this month plans to launch a tender exclusively for Chinese companies for the execution of contracts in seven industrial development hubs, according to an official notice published in state-owned newspaper Jornal de Angola.

Angolan factory starts exporting fishmeal to China

7 January 2016
The province of Benguela in Angola, will start exporting fishmeal to China, following a request submitted to a factory in Baía Farta, said the provincial director of Fisheries, José Gomes. Cited by state newspaper Jornal de Angola, Gomes said this plant produced 285,000 tons of fishmeal between January and November 2015, with the majority being exported to Namibia and South Africa, priced at US$1,250 a ton.

Angola’s National Geology Plan surveys mineral resources

7 January 2016
The implementation of the National Geology Plan (Planageo) underway in Angola will make it possible to discover the existing mineral resources in the country in general and in the province of Kuando Kubango, in particular, said the provincial director for Industry, Geology and Mining. Bento Francisco Xavier also told Angolan news agency Angop that there was an abundance of minerals in the southeastern region of the province, according to old information, including gold, diamonds, iron ore, copper, tin and quartz.

Indian group Tata starts operating in Angola

6 January 2016
Tata International, a trading and distribution company of Indian group Tata, plans to expand in Africa by entering the Angolan and Ethiopian markets, bringing its presence in Africa to a total of 14 countries, said a senior company executive.
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