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Angolahub

International Finance Corporation opens permanent office in Angola

11 November 2019
The World Bank Group's International Finance Corporation (IFC) opened an office in Luanda, Angola on Friday to expand its portfolio of loans to the Angolan private sector, the Angolan press reported.

Angola’s BPC bank bad debt portfolio may increase

11 November 2019
The percentage of non-performing loans on the balance sheet of Angolan state-owned bank Banco de Poupança e Crédito (BPC) could increase after the completion of an asset quality assessment, the director for Business and Private customers said in an interview with Jornal de Angola.

Privatisation of Angola’s agro-livestock farms attracts seven companies

8 November 2019
Seven Angolan and foreign companies were found to be eligible to participate in the public tender for the privatisation of the Longa (Kwando Kubango), Cuimba (Zaire), Camaiangala (Moxico) and Sanza Pombo (Uige) farms, according to state holding institute IGAPE.

Macau and Shanghai have “great complementarity” in relations with Portuguese-speaking countries

7 November 2019
Shanghai City's trade with Portuguese-speaking countries reached US$10 billion in 2018, said the president of the Macau Institute for Trade and Investment Promotion (IPIM), according to whom that city and Macau show have “great complementarity” in this cooperation. 

Luanda surface light rail system will cost US$3.5 billion

6 November 2019
The estimated cost of Luanda's light rail system, construction of which begins in 2020, is US$3.5 billion, Transport Minister Ricardo de Abreu said on Tuesday.

Macau attends 2nd edition of China International Import Exhibition

5 November 2019
A delegation of over 100 businesspeople from Macau has travelled to Shanghai to attend the 2nd edition of the China International Import Exhibition, which will take place from 4 to 7 November, said the Macau Trade and Investment Promotion Institute (IPIM).

Angola has a new diamond cutting company

5 November 2019
KGK Angola, a diamond-cutting company with a capacity to process 100,000 gross carats of diamonds per year, was inaugurated on Monday in Luanda, bringing the number of these units in the country to a total of four, the Angolan media reported.

Diamonds provide Angola with revenues of US$294 million in the third quarter of 2019

5 November 2019
Diamond sales provided Angola with revenues of US$294.85 million in the third quarter of 2019, an increase of 11.7% or US$30.7 million compared to the same period of 2018, according to figures released on Monday in Luanda.

Blue partnership between China and Portuguese-speaking countries debated in Beijing

1 November 2019
A blue partnership between China and the Portuguese-speaking countries was under discussion on Thursday at the University of Economics and International Business (UIBE) in Beijing, in a meeting that brought together about 200 people, including experts, academics, diplomats and businesspeople.

Tullow Oil plans to re-invest in Angola

1 November 2019
Oil company Tullow Oil intends to re-invest in Angola, particularly in deep water and oil blocks in the Namibe basin, the National Oil, Gas and Biofuels Agency (ANPG) said on Thursday in Luanda.

Angola promotes its products and services at the Shanghai Fair

31 October 2019
Angola will take part in the 2nd China International Import Fair, which will take place from 5 to 10 November in Shanghai, with a delegation headed by the Minister of Trade, Joffre Van-Dúnem Júnior, which includes more than 60 businesspeople, the coordinator of the Angola-China Chamber of Commerce said in Luanda.

Angola’s 2020 budget outlines an increase in expenditure of 4.5 trillion kwanzas

31 October 2019
The draft 2020 State Budget Law, delivered to the National Assembly by the Government of Angola, includes expenditure of 15.87 trillion kwanzas, an increase of 4.5 trillion compared to the revised State Budget for 2019.

Trade between China and Portuguese-speaking countries exceeds US$96 billion from January to August

30 October 2019
The value of trade between China and the Portuguese-speaking countries grew by 2.31% year-on-year to US$96.984 billion between January and August 2019, according to official Chinese figures released by Forum Macau.

Angolan parliament approves draft anti-money laundering and prevention law

30 October 2019
The draft Law on Preventing and Combating Money Laundering, Financing Terrorism and the Proliferation of Weapons of Mass Destruction on Tuesday was unanimously approved in general by the Angolan parliament.

Angola’s net international reserves fall to US$10.1 billion

30 October 2019
Angola's net international reserves fell by US$717 million in September to US$10.1 billion, the lowest figure in the National Bank of Angola statistics series, according to the weekly market comment from Banco de Fomento Angola.

Angolan oil exports down by 5.3 million barrels of oil in Q3

30 October 2019
Angola exported 116.4 million barrels of oil during the third quarter of 2019, down by 5.3 million barrels from the second quarter, at an average price of US$62.8 a barrel, according to a report presented on Tuesday in Luanda.

New consortium set up in Angola to explore natural gas

29 October 2019
The National Oil, Gas and Biofuels Agency (ANPG) has partnered with five oil groups to set up a consortium to explore, develop and produce liquefied natural gas on a cost-sharing basis, according to official information released on Monday in Luanda.

Angolan agency wants to diversify products for export

29 October 2019
The Angolan Private Investment and Export Promotion Agency (Aipex) wants to make exports of non-oil products more regular as a way of contributing to the diversification of the economy, its chairman, Licínio Vaz Contreiras said on Monday.

Portugal and China are main foreign investors in Angola in 2019

28 October 2019
Portugal led by number and China by value in terms of the investment proposals submitted by foreign companies to the Angolan Private Investment and Export Promotion Agency (Aipex), the investment and fundraising manager said.

Angolan economy to continue to contract in 2019 and 2020

25 October 2019
Angola will only see economic growth again in 2021, when its Gross Domestic Product is expected to rise by 2.4%, according to forecasts from the Economist Intelligence Unit (EIU), in its latest country report.
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