Angola – Page 5

Angola joins SADC free trade zone from August 2019

2 January 2019

Angolan Trade Minister Joffre Van-Dúnen Júnior said in Luanda that his ministry is working to create conditions for Angola's accession to the SADC Free Trade Area in 2019.

Kwanza depreciates in 2018 by more than 47% against the euro and more than 46% against the dollar

2 January 2019

In 2018, Angola's currency, the Kwanza, depreciated by 47.734% against the Euro and 46.504% against the US dollar, although it remained stable for about two months, according to data announced in Luanda by the National Bank of Angola.

Angola raises US$9 million from timber exports

31 December 2018

Angolan sawn wood exporters deposited US$9.0 million in the country's commercial banks from September to December, the Ministry of Agriculture and Forestry reported.

Port of Cabinda, Angola, handles more ships and containers in 2018

31 December 2018

The port of Cabinda handled 17,552 full and empty containers in 2018, an on year increase of 5,880 containers or 50.3%, the port company's chairman announced.

Portugal is Angolans’ most popular air destination in December

31 December 2018

The cities of Lisbon and Porto in Portugal were the main destinations of Angolans leaving the Angolan capital Luanda during the month of December for Christmas holidays and for health reasons, according to the Angop news agency.

Angola to have hub focused on the diamond industry

28 December 2018

A hub dedicated to the diamond industry in Angola will be inaugurated in 2019 in Saurimo, Lunda Sul province, the minister of Mineral Resources and Oil announced on Thursday.

Angolan Attorney General’s Office creates asset recovery office

28 December 2018

Angola's Attorney General's Office (PGR) is set to create an office in early 2019 to deal with issues related to the recovery of assets both abroad and inside the country, the Attorney General said on Thursday in Luanda.

National Bank of Angola extends intervention in troubled bank

27 December 2018

An intervention by the National Bank of Angola in Banco Angolano de Negócios e Comércio (BANC) has been extended for 90 days, starting on 26 December, the central bank announced in a statement released on Wednesday.

Total and Sonangol launch fuel supply network in Angola

27 December 2018

Angolan national oil company Sonangol and French group Total have set up a partnership to launch a retail network, the Angolan state oil company said.

Angola’s Sonangol raises funds to finance restructuring programme

27 December 2018

Angolan national oil company Sonangol has obtained US$1 billion from a banking syndicate to finance its ongoing restructuring process, the state group said in a statement.

Angola receives the largest loan granted by the IMF to countries in sub-Saharan Africa

21 December 2018

The US$3.7 billion loan granted by the International Monetary Fund (IMF) to Angola is the highest ever granted to a country in sub-Saharan Africa, the institution's director-general said in Luanda.

Hunan province wants economic cooperation with Angolan province of Bengo

21 December 2018

The Chinese province of Hunan plans to increase cooperation with the Angolan province of Bengo in a number of sectors, Hunan deputy governor He Boaxiang said on Thursday in Caxito.

Angola to have second diamond cutting plant in 2019

21 December 2018

A diamond cutting and polishing plant will be installed from February 2019 in Saurimo, the chief executive of Angolan diamond trading company Sodiam announced on Wednesday.

Fourth telecommunications operator in Angola announced in February 2019

21 December 2018

The result of the public tender authorising the entry of the fourth telecommunications operator in Angola will be announced in February, the Secretary of State for Telecommunications announced in Luanda.

European banks finance hydroelectric facility in Angola

19 December 2018

A banking syndicate made up of German bank Commerzbank and Italy's UniCredit will grant a loan of 1.06 billion euros to Angola to finance the construction of the Caculo Cabaça hydroelectric facility, according to a presidential order.

Angola’s balance of trade surplus totals US$13 billion in the first half of 2018

19 December 2018

Angola had a balance of trade surplus of US$13 billion in the first half of 2018, 30% more than the balance of US$10 billion registered in the same period of 2017, the National Statistics Institute (INE) reported.

Angola’s Sonangol and BP sign oil production and storage agreements

18 December 2018

Angolan state oil company Sonangol and BP have signed two agreements that will allow for the development of the Platinum project and extend oil exploration in block 18, at a ceremony held on Monday in Luanda.

Future Angolan Penal Code sets limit on cash transactions

18 December 2018

A proposed review of the Angolan Penal Code includes the introduction of a limit on cash transactions of 3 million kwanzas for individuals and 5 million kwanzas for companies, said the deputy attorney general.

Angola wants to reduce reliance on loans from China

17 December 2018

Angola plans to reduce its dependence on China's loans and diversify funding sources, the Angolan Energy and Water Minister said in recent statements in Tokyo to the Nihon Keizai Shimbun (Nikkei) newspaper.

Trade between China and Portuguese-speaking countries exceeds US$108 billion from January to September

17 December 2018

The value of trade between China and the Portuguese-speaking countries reached US$108.928 billion from January to September, a year-on-year increase of 21.22%, according to official Chinese data released by Forum Macau.

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