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Angolahub

China delivers Higher Institute of Foreign Affairs in Angola

1 February 2019
China's ambassador to Angola on Thursday formally delivered the Higher Institute of Foreign Affairs complex, a project costing US$25 million and is "China's largest donation to Angola ever since," according to the local press.

Trade between China and Portuguese-speaking countries increases 25% in 2018 to US$147.354 billion

31 January 2019
The value of trade between China and the Portuguese-speaking countries reached US$147.354 billion in 2018, an increase of 25.31% year-on-year, according to official Chinese figures released by Forum Macau.

Timber warehouses in Angola start generating revenue

31 January 2019
Angolan companies exploring forest resources in just three months exported products worth US$19 million through the Luanda Timber Warehouse, the Minister of State for Economic and Social Development said.

Angolan consortium starts mining gold deposits in Bengo province

31 January 2019
A project to mine gold deposits in the municipality of Nambuangongo, in Angola's Bengo province, is expected to start operating in August, with an annual production of 450 kilograms of gold expected, according to the chief executive of Angola's national iron company Empresa Nacional de Ferro de Angola (Ferrangol).

Quality of Angolan bank assets to be evaluated in April

30 January 2019
The quality of the assets of the commercial banks operating in Angola will begin to be evaluated by the National Bank of Angola (BNA) from April this year, to assess the financial health of the country's banks, the governor of the central bank said on Tuesday in Luanda.

Angolan bioenergy company plans to produce 100,000 tonnes of sugar in 2019

30 January 2019
Angolan bioenergy company Biocom expects to reach production of 100,000 tonnes of sugar this year, an increase of 37% compared with the 73,000 tonnes produced in 2018, said the deputy director general of company.

Angola’s Council of Ministers approves spin-off of national airport and air navigation company ENANA

30 January 2019
The Angolan national airport management company, Sociedade Nacional de Gestão de Aeroportos de Angola, which will be responsible for the management and operation of the country's airports, will be a public limited company, Angolan newspaper Valor Económico reported citing a source close to the process.

Angolan Government considers revising State Budget for 2019

30 January 2019
The Angolan government is examining the possibility of presenting a proposal to Parliament to revise the General State Budget (OGE) for 2019 in the first quarter, announced the Minister of State for Economic and Social Development.

Forty companies register for first diamond auction in Angola

29 January 2019
Forty companies have already registered for the first rough diamond auction to be held in Angola, an initiative intended to strengthen commitment to innovation and transparency in the diamond industry, said the Angolan Minister of Mineral Resources and Oil, Diamantino Azevedo .

European Investment Bank opens Portugal’s SME credit line in Portuguese-speaking countries

29 January 2019
The European Investment Bank (EIB) and Portugal's Development Finance Corporation (Sofid) have signed an agreement to open a credit line of up to 12 million euros to benefit small and medium-sized Portuguese companies in Portuguese-speaking countries, the EIB said in a statement.

Angola wants to be self-sufficient in food products

29 January 2019
The Angolan government wants the Programme to Support National Production, Export Diversification and Import Substitution (Prodesi) to be the turning point for increasing domestic production and making the country self-sufficient in food, the Minister of State for Economic and Social Development said on Monday in Luanda.

Angolan National Bank reduces benchmark interest rate to 15.75%

28 January 2019
The benchmark interest rate in Angola, BNA Rate, was revised downwards to 15.75%, down 75 basis points from the previous figure, was the main decision out of the meeting of the Monetary Policy Commission of the National Bank of Angola held Friday in Luanda, the central bank said.

Lectures on production increase in Angola begin in Luanda

28 January 2019
The Angolan government, through the Ministry of Economy and Planning, is holding Monday in Luanda the first of a series of lectures on "Measures to Support National Production Increase" in order to reduce imports and increase exports, according to official information.

Angolan law provides for payment of debts to the State through fund retention

28 January 2019
Angolan public entities may retain debtors' funds for delivery to the National Social Security Institute (INSS) and may convert the credit payable into social contributions to debtor companies, said the State Secretary for Labour and Social Security in Luanda.

Angola’s economy enters period of higher growth, EIU says

25 January 2019
Angola's economy is expected to grow at an average rate of 2.6% per year in the 2019-2023 period, an improvement on the average rate of 1.4% rate between 2014 and 2018, the Economist Intelligence Unit (EIU) said in its latest country report.

Angola’s parliament approves elimination of double taxation with Portugal, China and UAE

25 January 2019
The Angolan parliament unanimously approved proposals for the resolution of agreements for the elimination of double taxation and prevention of tax evasion on income tax with Portugal, China and the United Arab Emirates (UAE), according to official information.

Angola prepares introduction of postal code system

25 January 2019
Angola's Postal Address Code, a system that enables the organisation of logistics and location of mail recipients, is being drafted alongside an update of the laws that govern the sector, the Secretary of State for Telecommunications announced in Luanda.

ENI Group starts oil extraction in new well in Angola

25 January 2019
Italian group ENI has started oil production at a well in the Vandumbu field, located 350 kilometres northwest of Luanda and 130 kilometres west of Soyo on the western platform of the 15/06 block in the Angolan sea, the group announced in Milan.

Angolan government launches official services website

24 January 2019
The Angolan president announced the launch of the services website https://www.sepe.gov.ao/ao/ on Wednesday on his Facebook, Instagram and Twitter accounts.

Angolan Parliament gives general approval for VAT Code

24 January 2019
The draft bill on Value Added Tax Code (VAT-IVA), which will have a single rate of 14% and come into force in July, was generally approved by the Angolan parliament on Wednesday, according to official information.
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