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Angolahub

Angola receives 55 investment projects from August 2018 to February 2020

20 March 2020
Fifty-five investment projects valued at US$909 million were implemented, in Angola, from August 2018 to February 2020, a period in which 262 investment intentions were registered in the amount of US$2.715 billion, according to figures from the Private Investment and Export Promotion Agency (Aipex).

BP group oil production in Angola is in decline since 2017

20 March 2020
The BP group's oil production in Angola fell to 115,000 barrels per day in 2019, after standing at 147,000 and 192,000 barrels per day in 2018 and 2017, respectively, a drop of 21.7% on year and 40% in two years, according to the Energy Voice website.

Angola closes borders from 20 March

19 March 2020
Angola will close its air, land and sea borders to the movement of people from midnight on 20 March for 15 days, renewable for an equal period, depending on the progress of the Covid-19 pandemic, according to a presidential decree.

Angolan economist says Angola should begin to prepare for renegotiation of public debt

19 March 2020
The government of Angola should begin preparing the renegotiation of public debt with domestic and foreign creditors due to the fall in the price of oil on the international markets, said an Angolan economist quoted by the Jornal de Angola newspaper.

Portuguese-speaking African countries extend preventive measures for Covid-19

18 March 2020
The President of São Tomé and Príncipe, Evaristo Carvalho, decreed on Tuesday a state of national emergency to prevent the spread of Covid-19, and the prime minister, Jorge Bom Jesus announced a ban on entry into the country of all foreign citizens, the STP-Press news agency reported.

Covid-19 postpones privatisation programme in Angola

18 March 2020
Angola’s Institute of State Asset Management (IGAPE) of Angola has decided to postpone the technical presentations, on Wednesday and Thursday in Luanda, on the privatisation textile and agro-livestock businesses, the Ministry of Finance said.

Chad delivers the first batch of beef cattle to Angola

17 March 2020
The first batch of head of cattle arrived on Sunday in Luanda, according to an agreement reached between the governments of Angola and Chad, in which the latter undertook to pay a debt of US$100 million taken on in 2017 with the delivery of 75,000 head of cattle over a period of 10 years, the Angolan press reported.

Citizens of the United States prevented from entering Angola, Mozambique, São Tomé and Príncipe and Timor-Leste

16 March 2020
The government of Angola is keeping the ban on the entry of foreign nationals from China, the epicentre of the new coronavirus, South Korea, Japan and Italy, but may extend or reduce this list based on the evolution of the pandemic, said the Secretary of State for Public Health, Franco Mufinda.

President of Angola recognises that the country’s economic situation is difficult

16 March 2020
The president of the Popular Movement for the Liberation of Angola (MPLA) and President of Angola, João Lourenço has admitted the possibility of needing to revise economic forecasts due to the fall in the price of oil and the COVID-19 pandemic, the Angolan press reported.

Mozambican government imposes quarantine on citizens of China and five other countries

13 March 2020
The government of Mozambique will quarantine the citizens of China as well those from Italy, South Korea, Japan, Germany and France, who wish to enter the country, announced on Thursday in Maputo, the Ministry of Health.

Angola’s National Statistics Institute launches 2019 inventory of companies and establishments

13 March 2020
The World Bank has provided US$5 million for the completion of the Inventory of Companies and Establishments (REMPE 2019), to identify all companies and their establishments in Angola, said on Thursday in Luanda the director-general of the National Statistics Institute.

Banks operating in Angola must guarantee capital invested in complex financial products

13 March 2020
Banks operating in Angola are required to guarantee the capital invested by clients in complex financial products, "under any circumstances,” according to Notice no. 5/2020, of 28 February, published on Thursday by the National Bank of Angola.

Saurimo, Angola, will have a photovoltaic power plant

13 March 2020
A photovoltaic power plant, with a capacity of up to 26 megawatts, will begin to be built in October, in Saurimo, in the Angolan province of Lunda Sul, in order to cover the power deficit in the region, announced the Secretary of State for Energy, António Belsa da Costa.

Angolan sovereign fund buys stake in mining project

13 March 2020
The Sovereign Fund of Angola has invested US$2.0 billion on a 4.8% stake in the Pensana Rare Earths mining company, which is involved in a rare earth project Longonjo, Huambo province, said the Australian company in a market statement.

Angola’s oil production increases slightly in February 2020

13 March 2020
Angola's oil production rose by 15,000 barrels per day in February this year to 1.390 million barrels per day, according to the March 2020 report on the oil market from the Organization of Petroleum Exporting Countries.

Angola’s ANPG prepares auction for oil blocks in two onshore basins

12 March 2020
Angola’s National Oil, Natural Gas and Biofuels Agency (ANPG) is due to meet on 25 March with national oil companies to address issues related to the bidding process for oil exploration in onshore basins of the Lower Congo and Kwanza, according to official information.

European Union supports coffee production in Angola

12 March 2020
The European Union will contribute €12 million to finance a programme to improve the performance, growth and contribution of the coffee value chain in the diversification of the Angolan economy, said on Wednesday in Luanda, the ambassador of the European Union in Angola, Tomás Ulicny.

Angolan government proposes amendments to the Income Tax Code

12 March 2020
The proposed amendment of the Income Tax Code (IRT) submitted by the Angolan government to parliament increases the threshold on tax exemption from €35,000 to €70,000 and raises taxes on higher incomes, the head of the General Taxation Administration (AGT) said in Luanda.

Angola’s commercial banks purchase US$279 million from the oil sector in February

12 March 2020
Companies in the oil and gas sector sold US$279 million to the commercial banks operating in Angola in February, at a weighted average rate of 504.604 kwanzas per dollar, the Angolan central bank said.

Lubango in Angola, becomes home to technical and vocational institute of the Portuguese-speaking African countries

12 March 2020
The Vocational Technical Institute of Finance of the Portuguese-speaking African Countries (PALOP), will be inaugurated in September in the Angolan city of Lubango, the official responsible for the training establishment said on Wednesday in the city.
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