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Angolahub

Angola’s Endiama announces privatisation of hotel and logistics company in 2020

15 January 2020
Hotel Diamante and the Enditrade company will be privatised this year, announced in Luanda the president of Angola’s state diamond company, Endiama.

260 cooperatives licensed to prospect for diamonds in Angola in 2019

15 January 2020
Angolan diamond company Endiama granted licenses to 260 cooperatives in 2019 for semi-industrial diamond exploration, the company’s president said in Luanda.

Angola produces 9.121 million carats of diamonds in 2019

14 January 2020
The diamond sector in Angola produced 9.086 million carats in 2019, a fall of 4.8% on year due to the closure of a mine, and with semi-industrial production the total was 9.121 million carats, the president of Angola’s national diamond company Endiama said on Monday in Luanda.

Angola may bring semi-industrial exploration of diamonds to an end

14 January 2020
The semi-industrial exploration of diamonds in Angola may end in order to make the sector more competitive, transparent and efficient, said on Wednesday in Luanda, the president of Angola’s national diamond prospecting, exploration, cutting and marketing company, Endiama.

Angola’s new banknotes will be in circulation by the end of the first half

14 January 2020
New kwanza banknotes are due to go into circulation in Angola in the first half of this year, the governor of the Bank of Angola (BNA), José de Lima Massano, announced on Monday in Luanda.

Banks operating in Angola have five days to execute exchange operations

13 January 2020
Commercial banks have a maximum period of five working days to execute foreign currency sale operations to customers from 10 February, said the National Bank of Angola (BNA) through instruction 01/2020 of 10 January.

Angolan citizens can acquire US$120,000 in currency per year

13 January 2020
Angolan citizens can now buy foreign currency in the value of up to US$120 billion dollars per year for travel expenses, transfers of a private nature, including for family support, said the National Bank of Angola.

Insurance premiums grow 36% in Angola between 2014 and 2018

13 January 2020
The value of accumulated insurance premiums for companies operating in Angola from 2014 to 2018 reached 582.117 billion kwanzas (US$1.190 billion), representing growth of 36% on the year, said the Regulatory Agency for Insurance Supervision of Angola.

World Bank expects Angola’s economy to grow by 1.5% in 2020

10 January 2020
The World Bank predicts that the Gross Domestic Product of Angola will grow at a rate of 1.5% this year, which is a decline of 1.4 percentage points in relation to the forecast announced in June 2019, according to the Global Economic Outlook report published in Washington.

Diplomat from São Tomé and Príncipe chosen as director-general of the CPLP

10 January 2020
São Tomé diplomat Armindo Brito Fernandes, 58 years old and a law graduate, will be the new director-general of the Community of Portuguese Speaking Countries (CPLP), taking on the position next February for a term of three years, announced the embassy of São Tomé and Príncipe in Portugal.

2020 will be the fourth consecutive year of recession for Angola, EIU says

9 January 2020
The outlook for economic growth in Angola remains bleak, and projections point to 2020 being the fourth consecutive year of recession, as a consequence of developments in the oil sector, according to analysts from the Economist Intelligence Unit (EIU) in its latest report on the country.

CTM signs memorandum of understanding with Angola Cables

9 January 2020
Macau telecommunications company CTM and Angola Cables recently signed a memorandum of understanding that aims to increase business opportunities between Macau, mainland China and the Portuguese-speaking countries, according to a statement released in Macau.

Angolan banks grant US$79 million to support domestic production in fourth quarter of 2019

9 January 2020
The eight commercial banks of Angola that have joined the credit support programme, which aims to increase domestic production and replace imports, approved 23 loan requests totalling 38.6 billion kwanzas (US$79 million) in the fourth quarter of 2019, said the Ministry of Economy and Planning.

Five insurance companies in Angola collected 75% of premiums from 2014 to 2018

9 January 2020
Five of the 28 insurance companies operating in Angola accounted for 75% of insurance premiums issued in 2018, or an estimated 104.842 billion kwanzas (about US$214 million), according to a study of the Regulatory Agency for Insurance Supervision of Angola.

Angola wants to facilitate movement within the Community of Portuguese Speaking Countries

8 January 2020
The government of Angola expects that the progress made in the technical discussions can make the issue of movement within the Community of Portuguese Speaking Countries (CPLP) less complex, the Angolan Minister for Foreign Affairs said on Monday in Lisbon.

Commercial bank conducts first free sale of currencies in Angola

8 January 2020
A commercial bank operating in Angola held the first free sale of currencies to individuals without the need to present travel documents, an operation carried out under the terms of Notice 10/2019, of 6 November, said the Angolan central bank.

Angola eases rules for import and export of capital by non-residents

7 January 2020
The National Bank of Angola (BNA) has introduced more flexible rules for the import and export of capital by non-resident investors with the process of opening the capital and financial account, according to a statement issued on the central bank's website.

Banco Económico increases capital to comply with the recommendation of the Angolan central bank

7 January 2020
Angolan bank Banco Económico (BE) plans by the end of June to carry out the capital increase approved at its General Shareholders’ Meeting held in August 2019, the bank said in a statement issued on Monday in Luanda.

Angolan state bank uses courts to recover debt

7 January 2020
Angolan state bank Banco de Poupança e Crédito (BPC) is organising proceedings for legal recovery of debt state newspaper Jornal de Angola reported citing the bank.

Angola’s Sonangol interested in Brazilian group Oi’s stake in Unitel

6 January 2020
Angolan national oil company Sonangol is interested in buying a 25% stake held by Brazilian telecommunications group Oi in Unitel, a mobile operator in Angola, the chairman of the Angolan state company told Portuguese weekly Expresso.
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