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Angolahub

Russia’s VTB Bank sells stake in Angola’s VTB-Africa Bank

27 May 2019
Russian bank VTB Bank will sell its 50.10% stake in Angolan bank VTB-Africa to Russian financial company Rostang, the Regulatory Competition Authority (ARC) said in Luanda.

Cabo Verde calls for the creation of development bank of the Community of Portuguese Speaking Countries

27 May 2019
The proposal to create a development bank for the Community of Portuguese Speaking Countries (CPLP) may be discussed by the organisation's member states in July, the Cape Verdean deputy prime minister said on Saturday in Lisbon.

Angola’s economy expected to return to growth in 2021, after two years of contraction

24 May 2019
The Angolan economy will only grow again in 2021, according to forecasts by the Economist Intelligence Unit (EIU), which forecasts a positive rate of 4.2% for that year and falling again in the next two years, at an average of 3.45%.

More than half of Angola’s hotel offer is in Luanda

24 May 2019
The city of Luanda is home to 60% of existing hotel developments and equipment in Angola, with 40% in the remaining 17 provinces, the Tourism and Hotel Minister said on Thursday in Luanda.

Radisson group may invest in hotel construction in Angola

24 May 2019
The international hotel chain Radisson Hotel Group may build five three-star hotels in Angola over the next few years, the development department director for southern sub-Saharan Africa said on Thursday.

Capital has been voluntarily repatriated, governor of the National Bank of Angola says

24 May 2019
The governor of the National Bank of Angola has given assurances that there has been voluntary repatriation of capital during a six-month grace period, without requesting the benefits granted by the law in force, the Angolan press reported.

Angola’s Biocom wants additional measures to protect industry

24 May 2019
Angolan bioenergy company Companhia Bioenergia de Angola (Biocom) wants the country's government to take additional measures to protect domestic industry by introducing a quota and fee system for imported sugar, the company's commercial director said.

Angolan Finance Ministry rejects payment of debts taken on outside the current rules

23 May 2019
The Angolan Finance Ministry will reject debts of public agents that are contracted outside the rules of execution of the State Budget, said on Wednesday in Luanda the Secretary of State for Finance and the Treasury.

World Tourism Forum meets in Luanda, Angola

23 May 2019
The Angolan President will preside over the opening session of the World Tourism Forum (WTF) in Luanda, which will be attended by Angolan Tourism Minister Angela Bragança and the president of that organization, Turkey's Bulut Bagci, according to the official programme.

Angola spends too much foreign currency on imports of food products

23 May 2019
The National Bank of Angola provided US$583 million in the first quarter to import food and US$198.1 million to import goods and services, said director Pedro Castro e Silva on Wednesday in Luanda.

Government of Angola supports the private sector with interest subsidy

23 May 2019
The Angolan government will boost its support for private investment with a credit programme that offers subsidised interest rates, announced President João Lourenço in a message addressed to members of the National Assembly.

Chinese group CITIC opens aluminium profile factory in Angola

22 May 2019
CITIC Alumínio Angola's aluminium profile factory was inaugurated on Tuesday in the Luanda-Bengo Special Economic Zone in Viana, following an investment of US$40 million, the Angolan press reported.

Totsa Total Oil Trading and Trafigura supply fuel to Angola

22 May 2019
Totsa Total Oil Trading and Trafigura will ensure Angola's supply of gasoline and diesel over the next 12 months, Angola's national oil company Sonangol announced in a statement released on Tuesday.

Reduced port commissions and taxes in Angola expected to increase foreign trade

22 May 2019
The halving of the fees charged by the Angolan National Shippers Council should result in increased imports and exports, said the president of the Association of Shipping Agents of Angola.

Angola and Portugal sign cooperation agreement on the sea economy

21 May 2019
Angola and Portugal on Monday in Lisbon signed a memorandum of understanding that includes the establishment of partnerships in areas such as technical-scientific research and fish processing, the local press reported.

Angolan government says it is saving money by reformulating contracts

21 May 2019
The Angolan state is expected to save US$380 million by reformulating contracts for the construction of the Corimba Coastal Road, a project initially budgeted at US$1.3 billion, the construction and public works minister said on Monday in Luanda.

Government of Angola reduces import and export costs at ports

20 May 2019
The commissions charged by the Angolan National Shippers Council (CNC) for services rendered in the maritime-port sub-sector have been reduced by half by a decision of the Angolan government, through an order of the Minister of Transport.

Angola uses French satellites for Earth observation

20 May 2019
Angola will use French Earth observation satellites under a recently signed agreement between the two countries' governments, the Angolan Foreign Minister said on Friday in Paris.

Companies to be privatised in Angola can be paid for with public debt securities

20 May 2019
Buyers of public companies in Angola to be privatised may pay a portion of the value due to the State using public debt securities, according to the Basic Law of Privatisations, quoted by the Angolan press.

Angola’s President approves renegotiation of contracts for Corimba coastal road

20 May 2019
Construction work of the Corimba coastal road will be resumed, independently of the construction companies, Angolan state news agency Angop quoted Angolan President João Lourenço as saying on Saturday in Barra do Kwanza.
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