Angola – Page 4

Angolan central bank makes compulsory purchase of foreign currency from commercial banks

13 December 2019

The National Bank of Angola (BNA) on Wednesday carried out the compulsory purchase of approximately US$89.5 million from four commercial banks that had exceeded the limits of their currency position, accumulating the currency gained and not passed on to customers, said the central bank in a statement issued on Thursday in Luanda.

President of Angola invited for an official visit to Brazil

13 December 2019

The President of Angola received an invitation to make an official visit to Brazil, from Brazilian President Jair Bolsonaro and passed on by the Minister for Foreign Relations, Ernesto Fraga Araújo, on Thursday in Luanda, the Angolan press reported.

United Arab Emirates show interest in participating in public works in Angola

12 December 2019

The modernisation of the International 4 de Fevereiro Airport in Luanda, is one of the points included in a memorandum of understanding in the transport sector signed recently in Dubai between Angola and the United Arab Emirates, according to a statement from the Ministry of Transport.

Sociedade Mineira de Catoca reduces contribution to tax revenues in Angola in 2019

12 December 2019

Angolan mining company Sociedade Mineira de Catoca is expected this year to contribute US$90 million to tax revenues in Angola, a drop of 58% compared to US$217 million recorded in 2018, according to a statement issued by the company, which is the largest operating in the country's diamond sector.

Angolan imports drop by 10% from January to October 2019

12 December 2019

The value of imports by Angola in the period from January to October 2019 fell by 10% to US$1.339 billion, the deputy governor of the National Bank of Angola, Tiago Dias said on Wednesday in Luanda.

Oil production in Angola continued on downward trend in November

12 December 2019

Angola's oil production fell again in November, down by 75,000 barrels per day (bpd) to 1.284 million bpd according to second secondary sources, said the monthly report on the oil market from the Organization of Petroleum Exporting Countries (OPEC).

Economist improves projection for economic development in Angola for 2019

11 December 2019

Angola's economic downturn in 2019 will be only 3.3%, an improvement of 30 basis points compared with the forecast of a rate of minus 3.6% announced by the Economist Intelligence Unit (EIU) report on the country released in October.

Gemcorp Capital announces the location of future Cabinda Refinery in Angola

11 December 2019

The Cabinda Refinery, which will have an installed capacity to process 60,000 barrels of crude oil per day, will be built on the Malembo plain, about 30 kilometres north of the provincial capital, technicians from Gemcorp Capital LLP reported on Tuesday in Cabinda.

IMF and EU support improvement of public finance in Angola

11 December 2019

The technical assistance programme managed by the Fiscal Affairs Department of the International Monetary Fund (IMF) and funded by the European Commission will introduce permanent improvements in public finance management in Angola, the minister of Finance said on Tuesday in Luanda.

Angolan government extends deadline for submission of tenders for the Soyo refinery

11 December 2019

The deadline for submission of tenders for the international public tender for the construction of a refinery in Soyo, in Angola's Zaire province, has been extended from 18 December to 30 January 2020, the Ministry of Mineral Resources and Oil said on Tuesday in Luanda.

Angola pays debts to Brazil ahead of schedule

10 December 2019

The Angolan government has paid its debt of US$589 million to Brazil ahead of schedule in an operation carried out on 3 December, Brazil's Ministry of Economy said in a recent announcement.

IMF signs agreement to provide technical assistance to Angola

10 December 2019

The Angolan Ministry of Finance on Tuesday in Luanda is due to sign an agreement for the management of public finances with the International Monetary Fund (IMF), for the implementation of a technical assistance programme, which also provides for scheduling the macroeconomic framework for tax purposes and improving the management of public investment, according to an official statement.

European Union blacklist includes airlines from Angola and São Tomé and Principe

10 December 2019

All airlines from Angola, with the exception of the flagship carrier and Heli Malongo, are included on the "blacklist" of 115 airlines banned from flying into the European Union (EU), according to the revised list published on Monday in Brussels.

Public Tender for fourth telecoms operator of Angola has a new deadline

10 December 2019

The deadline for submission of applications to the fourth global telecommunications license in Angola has been further extended to 22 January, according to a statement published on Monday in Luanda in state newspaper Jornal de Angola.

Angola’s Sodiam secures revenue of US$27.85 million with second international diamond auction

10 December 2019

Angolan diamond trading company Sodiam secured revenue of US$27.85 million with the sale of five lots of diamonds in an international public auction on 20 November 2004, the company said in a statement.

Angola aims to produce 1.436 million barrels of oil per day in 2020

6 December 2019

Angola expects to produce 1.436 million barrels of oil per day in 2020, against the current 1.39 million barrels per day, said on Wednesday in Luanda the Minister of Oil and Mineral Resources, Diamantino Azevedo.

Poorly drafted projects delay granting of production credit in Angola

6 December 2019

Poor preparation of projects presented by some companies that contribute to the Credit Support Programme in Angola is slowing down the process of granting bank credit to develop national production and decrease the import of goods and services, the chief executive of Banco Angolano de Investment (BAI) said on Thursday in Luanda.

Angola’s Sonangol revokes contract with United Shine consortium to build Cabinda Refinery

5 December 2019

Angolan state oil and fuel company Sonangol has cancelled its contract with the United Shine consortium for the construction of the Cabinda Refinery due to non-compliance with the agreed actions, the state company said in a statement issued on Wednesday in Luanda.

Bank of China intends to have presence in all Portuguese-speaking countries

5 December 2019

The Bank of China wants to open offices in all Portuguese-speaking countries, the Chairman of the bank's Supervisory Board said on Wednesday in Lisbon, justifying this interest with the fact that it is a global financial institution.

Employment rate in Angola stands at 71% of working population

5 December 2019

Angola's employment rate stands at 71% of the working population, said on Wednesday in Abidjan, Cote d'Ivoire, the Secretary of State for Labour and Social Security, Manuel Jesus Moreira, who recalled that Angola's total population is calculated at 30 million people.

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