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Angolahub

China’s ambassador restate’s Beijing’s support for Angola

11 January 2019
The Chinese government will continue to provide aid to Angola, mainly in the financial and infrastructure sectors, as well as to encourage Chinese companies to invest in the country, the Chinese ambassador said on Thursday in Luanda.

Angola negotiates installation of Volkswagen and Ford factories

11 January 2019
The opening of car assembly lines in Angola is being negotiated with officials from Germany's Volkswagen and US automotive company Ford, said the president of the Luanda-Bengo Special Economic Zone Development Company.

Businesspeople from China plan to invest in Angola

10 January 2019
Investors from China have US$10 billion to invest in industry, agriculture and scientific research in Angola, said on Wednesday in Lubango, Huíla province, the Chinese Embassy's advisory minister Li Bin.

World Bank forecasts economic growth of 2.9% in 2019 for Angola

10 January 2019
Angola is expected to post economic growth of 2.9% in 2019, up 0.7 percentage points from the June 2018 forecast, the World Bank said on Wednesday.

Japanese group plans to develop Namibe Bay, Angola

10 January 2019
Japanese group Toyota Tsusho is proposing to invest US$600 million in a development project in Namibe Bay, southern Angola, according to an order signed by Angolan President João Lourenço.

New legal regime for foreigners in Angola aims to boost tourism and investment

9 January 2019
The new proposal for a Law on the Legal Regime of Foreign Citizens in Angola opens up tourism and investment in the country, the Interior Minister said on Tuesday in Luanda.

Angolan civil servants involved in public contracts must file an income statement

9 January 2019
Angola's managers and civil servants involved in the preparation and execution of state contracts are required to complete a declaration of assets and income, under a regulation approved at the end of 2018 by President João Lourenço.

Angola’s taxpayers owe US$1.038 billion to the treasury

9 January 2019
The tax and customs debt of Angola's taxpayers by 31 December, 2017 is estimated at 323 billion kwanzas (US$1.038 billion), according to data provided by the General Tax Administration.

DR Congo group buys Angolan company Lactiangol

9 January 2019
The Webcor business group recently bought Lactiangol, Angola's main dairy unit, for US$30 million, the group said in a statement quoted by the Angolan press.

Agreement with IMF gives reform process in Angola credibility

8 January 2019
Angola's agreement with the International Monetary Fund (IMF) will make the ongoing reform process in the country more credible, the minister of state for economic and social development said in an interview with state newspaper Jornal de Angola.

Tax authorities in Angola and Portugal share information on taxpayers

8 January 2019
The Angolan and Portuguese tax administrations will begin to exchange information on taxpayers with interests in both countries, according to an agreement on mutual administrative assistance and tax cooperation signed by both governments.

Angolan companies with tax debts up to 2017 can settle them in 2019

8 January 2019
Companies with tax, customs and social security debts owed until December 2017, will be able to settle them without paying interest, fines and procedural costs, announced the Angolan minister of State for Economic and Social Development.

President of Angola wants to verify financial support to private entities

8 January 2019
The Angolan President has ordered the creation of a working group to survey public investment support by private entities, financial newspaper Mercado reported.

Angola’s National Bank revokes licenses of two commercial banks

7 January 2019
The National Bank of Angola (BNA) has revoked the licenses of Banco Mais and Banco Postal, because they did not increase their capital stock to a minimum of 7.5 billion kwanzas, the governor of the central bank announced in Luanda.

Banco Nacional de Angola assesses asset quality of commercial banks

7 January 2019
The National Bank of Angola (BNA) this year will begin assessing the quality of assets of Angolan commercial banks, based on a memorandum signed with the International Monetary Fund (IMF), the central bank governor announced on Friday.

Angola’s central bank revises limits on foreign exchange purchases by travellers

7 January 2019
Residents in Angola over 18 years of age who intend to travel can purchase foreign currency from commercial banks up to the equivalent of 8,000 euros per trip, according to a recommendation from the National Bank of Angola.

Portugal provides assistance to Angola to introduce VAT

4 January 2019
The Portuguese Tax and Customs Authority is supporting its counterpart in Angola in preparing the introduction of Value Added Tax (IVA), scheduled for 1 July, Portuguese daily newspaper Público reported.

Angolan company invests in the multipurpose terminal of the port of Luanda

4 January 2019
Angolan terminal operator and cargo company Transportadora de Cargas, Operadora de Terminais e Transitário (Unicargas) plans to invest US$40 million this year to refurbish the facilities of the multipurpose terminal at the port of Luanda, said the company's chairman.

Angola’s National Bank announces amount of foreign exchange for sale in January

3 January 2019
The National Bank of Angola will sell foreign currency in the amount of US$700 million to commercial banks in January, through price auctions (sale of currencies) and quantity auctions (for letters of credit), the central bank said in a statement published on Wednesday on its website.

Cut in production of OPEC countries leads Angola’s oil production to fall

2 January 2019
At least 1.2 million barrels of oil will no longer be produced by OPEC and non-OPEC member countries starting on 1 January in a joint effort that has been made since 2016 to balance crude oil prices on the international market.
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