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Angolahub

BNU and ICBC (Macau) jointly promote business between China and the Portuguese-speaking countries

29 April 2020
The Banco Nacional Ultramarino bank and the Industrial and Commercial Bank of China (Macau) signed a memorandum of understanding for the joint promotion of business between China and the Portuguese-speaking countries, according to a statement issued by the issuing bank.

Angolan airline TAAG makes staff redundant to ensure its survival

29 April 2020
Angolan flagship airline TAAG is planning redundancies in order to ensure the company's survival, said the minister of Transport this week in Luanda, adding that the measure will be implemented as soon as the state of emergency in the country comes to an end.

Informal traders in Angola authorised to user automatic point of sale terminals

29 April 2020
A new simplified bank account system has been set up by the Bank of Angola for residents that do not have access to alternative accounts, under the terms of Notice 12/2020 of 27 April, alongside Instruction 08/2020 of 28 April.

2020 edition of Expo-Huíla, in Angola, is cancelled

29 April 2020
The 2020 edition of Expo-Huíla, an international trade fair that is held annually in the Angolan city of Lubango, has been cancelled due to the Covid-19 pandemic, said the president of the Huíla Agro-Livestock, Industrial and Commercial Association.

Chinese companies in Angola experience drop in turnover

28 April 2020
Chinese companies operating in Angola have so far recorded a drop in turnover of US$350 million and US$500 million due to restrictions resulting from the imposition of a state of emergency to halt the spread of Covid-19, said the vice-president of the Angola-China Chamber of Commerce.

No date set for 6th Ministerial Conference of Forum Macau

28 April 2020
The date to hold the 6th Ministerial Conference of the Forum for Economic and Trade Cooperation between China and the Portuguese Speaking Countries has yet to be set, the Secretary for Economy and Finance of the Government of Macau said on Monday.

Angola’s Sonangol sells shareholdings in nine more companies

27 April 2020
Angolan state oil company Sonangol on Thursday in Luanda launched an international public tender for the sale of its stakes in nine companies, according to information published on its website.

Angolan National Bank plans to introduce mobile and instant messaging transfer system

27 April 2020
Angola's National Bank (BNA) by September 2020 plans to announce the name of the company that will be responsible for the Mobile Transfers and Instant Messaging system to be introduced throughout the country, according to a request for information published on 26 April.

Angolan central bank boosts requirements financial institutions

27 April 2020
The Angolan National Bank (BNA) has altered the system for special registration of entities such as banks, branches and representative offices in the country, intending to "make requirements and procedures more rigorous," and strengthen "reputation requirements".

Angola’s real estate market has been at a standstill for five years

27 April 2020
Almost all of the companies that operate in the real estate sector in Angola are in a situation of technical bankruptcy, as a result of the market being at a standstill for over five years, said the president of the Association of Real Estate Professionals of Angola.

IGAPE of Angola wants to privatise another 13 industrial units

24 April 2020
Angola's Institute of State Asset and Stake Management (IGAPE) intends to privatise another 13 industrial units in the Luanda-Bengo Special Economic Zone (SEZ), and on Thursday in Luanda announced the launch of an international public tender.

Deadline for submission of tender proposals for the multipurpose terminal in the Port of Luanda in Angola extended

24 April 2020
The deadline for the submission of proposals for the public tender for the concession on the multipurpose terminal in the Port of Luanda has been extended until 29 May due to the state of emergency imposed to contain the spread of the Covid-19 pandemic in the country, according to an official announcement said on Thursday.

Banking moratorium in Angola will be granted only to customers in difficulties

24 April 2020
Banks should grant a moratorium of 60 days only to customers that have complied with credit payments until March 2020 and that are now facing difficulties in complying with the payment of their instalments, considering the state of emergency that the country is experiencing, said the Angolan National Bank (BNA).

Angolan parliament authorises President to grant tax benefits to oil blocks

24 April 2020
The Parliament of Angola has adopted five bills which authorise the President of the Republic to legislate on the deduction of investment premiums on tax on income from oil of blocks 30, 44, 45, 1/14 and the centre of the onshore area of Cabinda, said the National Assembly.

Bank of Angola restates that banks should cover the value of import operations

23 April 2020
Commercial banks must undertake to sell currency at the exchange rate established on the day of the settlement of foreign transactions, as well as to grant credit in kwanzas without indexation, whenever in the settlement of letters of credit, importers do not have enough funds in their account to cover the operation, recalled the National Bank of Angola

Angola suspends all contracts without guaranteed funding

22 April 2020
The implementation of contracts signed under the Public Investment Programme whose source of funding has not been secured has been suspended in Angola, the country’s Minister of Finance, Vera Daves de Sousa ruled on Tuesday.

Government of Angola submits draft bill on the tax system to parliament

22 April 2020
The Parliament of Angola, known as the National Assembly, which is due on Wednesday to start discussing proposals for a review of three diplomas to structure the tax system, with a view to simplifying procedures, facilitating the business climate and improving the collection of revenue, said the Ministry of Finance.

Sonangol sets ups fuel stockpile in Luanda

22 April 2020
Angolan state oil company Sonangol will be able to use the Pumangol fuel terminal, in Luanda, to establish a stockpile of fuel, under an agreement signed with the Angolan subsidiary of Singapore group Puma Energy.

Hengqin Island has a role to play in China’s relationship with Portuguese-speaking countries

21 April 2020
The island of Hengqin will contribute to solving the problem of lack of space and resources in Macau, allowing it to better perform its role as a platform between China and Portuguese-speaking countries, the Macau government said in the 2020 Lines of Government Action.

Angola records a fourth consecutive year of economic contraction in 2019

21 April 2020
Angola's economy contracted by 0.9% in 2019 compared to the previous year, according to preliminary gross domestic product results released on Monday in Luanda by the National Statistics Institute.
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