News from Cape Verde, Angola & Mozambique

Archive for November, 2011|Monthly archive page

Cape Verde Politics & Regional News

In Cape Verde on November 24, 2011 at 8:57 pm

POLITICS

Brazilian President Dilma Rousseff met with Cape Verdean President Jorge Carlos Fonseca at the Rio Branco Palace in Salvador, the capital of the northeastern Brazilian state of Bahia. In the meeting, they agreed that the Brazilian President would visit Cape Verde in early 2012 (A Semana).

During what was supposed to have been the debate on the 2012 General State Budget proposal, the legislators representing the PAICV and the MpD became embroiled in a bitter exchange of insults that forced National Assembly speaker Basílio Ramos to suspend the session (A Semana).

Cape Verde has been found its “oil” in “good governance” and that makes the Portuguese-speaking African country “a good example” of development, said Petra Lantz, coordinator of the UN in territory (Inforpress).

INTERNATIONAL

The United States Immigration and Customs Enforcement agency arrested 53 immigrants with criminal records in the state of Massachusetts. Among them were several Cape Verdeans (A Semana).

Eight purported Cape Verde gang members were among those arrested in a sweep by federal immigration officials and local authorities, including one man who tried to escape through a window, a Plymouth County sheriff official said (Entreprise News).

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BOA VISTA

When Christopher Columbus arrived on the island of Boa Vista in 1498, he didn’t like it much. The great explorer was probably a bit cocky having already discovered the New World six years earlier. Landing on this mass of volcanic rock, 300 miles off the coast of Senegal, must have felt a bit like finding some small change down the back of the sofa after winning the lottery. But Boa Vista, the third largest island of 10 in Cape Verde, is gaining in currency as a holiday destination (Daily Mail).

MAIO

Prosecutors on the island of Maio are questioning the directorship of the Morreirense Sport Club Association to determine the veracity of the accusations leveled by a group of associates regarding the alleged embezzlement of 600,000 escudos by the entity’s treasurer during the club president’s absence (A Semana).

SAL

Cabo Verde has held the first unofficial National Kitesurfing Championships, in the Sal Island. The Cape Verdean kiteboarders have been showing off in the international scene, with Mitu Monteiro and Airton Cozzolino keeping the bar high. The weather conditions were great. Ponta Preta and a secret spot were enough to run the heats (The Surfer Today).

THE GRAND TOUR OF CAPE VERDE

Read The Grand Tour of Cape Verde, Atlantico Weekly’s travel guide to the country’s main islands.

SANTIAGO

Judiciary Police have already interrogated dozens of people, and many more continue to be questioned by investigators – people from all walks of life, from everyday citizens to businessmen, some of whom enjoy considerable notoriety in Praia. Numerous bank accounts have also been frozen as part of Operation Speed Boat, which began one month ago. The operation, which represented a major blow to the drug trafficking business, resulted in the arrest of three individuals, including the alleged ringleader, 44-year-old Paulo Ivone Pereira, and the seizure of 1,501.3 kilograms of pure cocaine, as well as luxury cars, three jet skis and a fishing boat (A Semana).

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Cape Verde Business & Economy News

In Cape Verde on November 24, 2011 at 8:53 pm

ECONOMY

A new tariff scale for conventional telephone lines in Cape Verde will go in to effect on December 1. The new tariff scale, which has been announced by the National Telecommunications Agency (ANAC), brings a slight reduction in the cost of land line-to-mobile phone calls, long-distance and international calls, as well as a 2.10-escudo-per-minute increase in the price of local calls (A Semana).

TACV Cabo Verde Airlines, airport and air security company ASA and port management company Enapor will all get new boards of directors beginning in January 2012, A Semana has learned from a well-placed source. The government will not renew the mandates of the three public companies, and is currently analyzing the various names that have been proposed to occupy the posts.

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AVIATION

Cape Verdean airline Transportes Aéreos de Cabo Verde, TACV, plans to renew and increase its fleet of aircraft with the acquisition in 2012 of two Boeing 737s, the Cape Verdean Prime Minister José Maria Neves said (Macauhub).

BANKING

Investigations in the embezzlement case at the Porto Novo branch of commercial bank Banco Comercial do Atlântico (BCA) indicate that the hole left by former manager Alcindo Rocha is much larger that initially thought – as high as 140 million escudos (A Semana).

Gilda Sancha, an employee at the Coculi (Santo Antão) branch of commercial bank Caixa Económica de Cabo Verde (CECV), has been suspended from work for the past week due to an alleged embezzling of funds (A Semana).

ENTREPRENEURS OF CAPE VERDE

Check out Atlantico Weekly’s new feature: Entrepreneurs of Cape Verde, which is a series of short interviews with entrepreneurs in Cape Verde, both homegrown and foreign. We started off with Josephine Sturiale and Paulino Dias. This week it’s the turn of a veteran entrepreneur on Sal: Patone Lobo of Hotel Odjo d’Agua (Picture).

And yes, Atlantico Weekly is looking for more entrepreneurs of Cape Verde to interview. Those interested may contact Atlantico Weekly (atlanticoweekly at gmail.com).

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FISHERIES

Three technicians from the National Fisheries Development Institute (INPD) and four specialists from the Canary Islands Marine Sciences Institute will begin a campaign to assess the soldier shrimp stock in the waters surrounding the island of Santiago. The results will be presented on December 1 in the INDP auditorium one day after the campaign’s conclusion (A Semana).

REAL ESTATE

The Cape Verde property market defies the odds. Despite ongoing world economic woes, pockets of good news are emerging out of Africa. An example comes from the property market on the tiny island of Sal (Telegraph).

TOURISM

The 2011/2012 cruise season gets started on Saturday, November 26, with the arrival in São Vicente of the ship Costa Fortuna, which carries some 4,000 visitors on board. Three additional cruise ship stopovers on São Vicente are scheduled for the next two weeks, with a total of 10,400 tourists expected to disembark on the island (A Semana).

Data from the National Statistics Institute (INE) indicate that there was a 16.1 percent increase in both the number of guests and overnight stays in the country in the third quarter (Inforpress).

TRAVEL

The hydrofoil Kriola will increase the frequency of its connections between the islands of Santiago, Fogo and Brava to make up for its week-long absence last week, during which it underwent routine maintenance at the Cabnave shipyard on the island of São Vicente (A Semana).

Atlantico Weekly’s Angola Business News

In Angola on November 24, 2011 at 8:45 pm

PROJECT OF THE WEEK

The new headquarters of the Angolan National Assembly, which is being built by Portuguese company Teixeira Duarte Engenharia, is expected to be finished in August 2013 (Macauhub).

POLITICS

Angola is budgeting to spend 23.4 billion kwanza ($246 million) to prepare for and hold elections next year, Jornal de Angola reported, citing Treasury Secretary Alcides Safeca (Bloomberg).

INTERNATIONAL

Crisis-hit Portugal’s cries for help from Angola, a former colony, show not only how tough times are for Lisbon, they also give the oil-rich African nation a chance to boost its foreign investments and prestige at bargain prices. Analysts say the most likely route is by taking part in a fire-sale privatisation programme that includes the off-loading of state holdings in utility EDP, grid operator REN , oil and gas firm Galp and airline TAP (Reuters).

Banco Comercial Portugues SA (BCP), Portugal’s second-biggest bank by market value, rose 11 percent in Lisbon trading on speculation Angolan investors may raise their stake in the lender (Bloomberg).

Portuguese shipyard company Estaleiros Navais de Viana do Castelo may be privatised Portuguese Prime Minister Pedro Passos Coelho said in Luanda, adding that there were Angolan investors interested in the deal (Macauhub).

The 17th edition of the International Wine, Fish and Agri-Food Salon (Sisab), held in Lisbon from 27 to 29 February 2012, will be attended by at least 200 Angolan buyers, double the number of the previous year, one of the event’s organisers said (Macauhub).

Brazil has a credit line for Angola of over US$5 billion, which may be increased if necessary, Brazil’s Minister for Development, Industry and Foreign Trade said. Speaking on his arrival in the Angolan capital, Fernando Pimentel, who is accompanied by a delegation of ministry officials and 53 businesspeople, said that the team was in Angola to discuss financing for investment projects in Angola, as part of the credit line (Macauhub).

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ECONOMY

Economic growth in Angola will see a “significant push” in 2012, to close to two digits, due to the start of natural gas production, according to the Economist Intelligence Unit (EIU). The production of natural gas, after an investment of US$9 billion led by Chevron an Sonangol, is due to begin in December, “several months ahead of schedule,” and the recent drop in fuel prices on the main export market, the United States, is leading the oil companies to also focus on Asia (Macauhub).

AVIATION

Angola plans to give a Chinese company a concession of as much as 25 years to manage a new international airport south of the capital, Luanda. CIF Airport Construction is building the airport, with the first phase of the project probably complete by the second half of 2012 (Bloomberg).

Improvements introduced in the safety standards of Angolan flagship airline Taag led to the European Union authorising it to carry out flights to the European air space using two more aircraft, airline executive Rui Carreira said (Macauhub).

Angolan state airport manager, Enana, has invested US$200 million in the refurbishment and modernisation of several of the country’s airports the Minister for Territorial Administration, Bornito de Sousa said (Macauhub).

BANKING & FINANCE

The value of insurance premiums in Angola increased from US$86 million in 2001 to US$636 million in 2009 and US$800 million in 2010, Finance Minister Carlos Alberto Lopes said (Macauhub).

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OIL & GAS

Italian oil and gas group Eni said it will evaluate with Angola opportunities for new joint initiatives in the country to develop the oil and gas sector (Reuters).

The Pazflor floating production, storage and offloading (FPSO) unit for oil and natural gas, has introduced an innovation to the world oil industry by being the first to separate oil and gas beneath the sea (Macauhub).

Portuguese oil group Galp Energia wants to double its oil production in Angola and to do that plans to invest, by 2020, 1 billion euros in that market (Macauhub).

 

Cape Verde Politics & Regional News

In Cape Verde on November 17, 2011 at 7:25 pm

POLITICS

Prime Minister José Maria Neves has announced measures aimed at ensuring economic equilibrium, consolidating the budget and stimulating economic activity and competitiveness, while guaranteeing that Cape Verde’s banking sector “remains solid.” The government will also implement “100 urgent measures in public administration,” and will continue, according to Neves, to reduce taxes (A Semana).

The government of Cape Verde may close some diplomatic representations in the context of cost reduction measures to tackle the international financial crisis, Prime Minister José Maria Neves siad (Inforpress).

The Cape Verde State Budget will this year receive foreign aid of 21 million euros, the Budgetary Aid Group (GAO) told Cape Verde’s Finance Minister during the this year’s second evaluation meeting (Macauhub).

The Mo Ibrahim Prize was established by the Mo Ibrahim Foundation to recognise and celebrate excellence in African leadership. It is an annual $5 million award paid over 10 years and $200,000 annually for life thereafter. This year’s winner, former Cape Verde (2001 to 2011) President Pedro Pires received the award last Saturday. BEATRICE KARANJA of The East African spoke to him about politics in Cape Verde and Africa. Why Cape Verde is the best place to live in Africa.

SOCIAL

Non-governmental organization Save the Children published a list this week of the best countries in the world in which to have children. On the list, Cape Verde is included in the group of developing countries and occupies 48th position (A Semana).

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BOAVISTA

Rabil Airport, o the island of Boa Vista, will exhibit a plaque reading “Aristides Pereira International Airport” beginning Saturday, November 19, in homage of Cape Verde’s first President of the Republic. Pereira passed away on September 22 in Portugal (A Semana).

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SAL

A couple living nearby is suspected of having murdered the German tourist found dead in her apartment in Santa Maria, on the island of Sal, on October 8, in an advanced state of decomposition. The crime, allegedly committed by 25-year-old Nuno “Manick” Miguel Correia and 27-year-old Claire Alves, is believed to have been committed during a burglary. The couple was arrested in Praia (A Semana).

PROJECT OF THE WEEK

Render of the Praia City Park complex for Praia Negra, by architect Sonia Ludmila Tavares.

SANTIAGO

The budget of the Municipality of Praia for the year 2012 is approximately 2.5 billion escudos, about 17 percent lower than the budget of this year, which was 3.1 million of escudos (Inforpress).

A number of new faces will be vying for the São Domingos municipal chamber in next year’s municipal elections. From the MpD’s camp, Fernando Jorge Borges is expected to leave the municipal government after nearly 20 years in power, opening the way for architect Franklin Tavares, who is hoping to merit the support of the party to win the elections. The PAICV, meanwhile, has already deposited its trust in teacher Mário Lima in its attempt to conquer the São Domingos municipal chamber for the first time (A Semana).

The Institute for Research and Cultural Heritage (IIPC) and the Municipality of Ribeira Grande de Santiago signed a protocol for the rehabilitation of a house built more than 300 years ago, in the historic Rua da Banana in Cidade Velha (AW).

Cape Verde Business & Economy

In Cape Verde on November 17, 2011 at 7:24 pm

ECONOMY

Cape Verde appears in the 2012 Paying Taxes Report in 101st position out of a total of 183 countries. In global terms, Cape Verdean workers and companies spend an average of 186 hours a year in order to meet their fiscal obligations (A Semana).

The 15th edition of the Cape Verde International Fair (FIC) opened in Mindelo on the island of Sao Vicente, and has a total of 90 exhibitors include both Cape Verdean and foreign companies as well as 140 stands (Macauhub).

Trade between China and Cape Verde rose by 62.5 percent in September to 38.2 million dollars (Inforpress).

Cape Verde has the fourth-highest internet penetration rate in Africa, just behind Morocco, the Seychelles and Tunisia, according to the annual report of the International Telecommunication Union (ITU). Speaking to Portuguese news agency Lusa, the manager of the Operational Unit for the Information Society (NOSI) of Cape Verde, Jorge Lopes, said there has been exponential growth in the country over the past three years. He said that this is due in part to the Konekta project, which allows free internet access (Telecompaper).

Cape Verde spent the past decade fighting its way out of poverty to achieve “middle-income” status. But the escalating euro zone crisis is jeopardizing that accomplishment. The West African island nation’s top trading partners? Portugal and Spain (Global Post).

MEDIA

The printed edition of A Semana is back after a two-month pause aimed at reassessing the newspaper’s role, launching new projects and reflecting on its place in a Cape Verde in constant transformation. Encouraged by the certainty that the country expects and demands much of us, we have made a number of adjustments and perfected our product, and we will be back on the stands on November 18.

ENTREPRENEURS OF CAPE VERDE

Check out Atlantico Weekly’s new feature: Entrepreneurs of Cape Verde, which will be a series of short interviews with entrepreneurs in Cape Verde, both homegrown and foreign. We started off with interviews with Josephine Sturiale and Paulino Dias.

And yes, Atlantico Weekly is looking for more entrepreneurs of Cape Verde to interview. Those interested may contact Atlantico Weekly (atlanticoweekly at gmail.com).

POWER

The Japanese government will make more than 8.4 million Euros available to finance the extension and maintenance of the generators at the Palmarejo power plant in Praia. The investment will allow for an increase in the plant’s electricity production capacity from 26 to 46 Megawatts (A Semana).

REAL ESTATE

Last week saw the successful resolution by Judicare of a problematic overseas investment and the return of the client’s deposit plus interest of over €40,000. The specialists in investment recovery resolved a dispute between a UK buyer, Mr. Powell, and a development in Cape Verde. Following Powell’s investment in 2008 in a two-bedroom apartment, the construction of the Cape Verde development fell behind schedule, defaulting on the purchase agreement (IBT).

TRAVEL

The hydrofoil Kriola, which belongs to Cabo Verde Fast Ferry, will suspend its schedule for one week beginning on Tuesday, November 15. Between then and November 21, the vessel will undergo annual maintenance and inspection at the Cabnave shipyard in Mindelo, as per its insurance obligations (A Semana).

Just six years ago, the little known Cape Verde islands were hailed as the great new winter sun destination. Ideally situated off the West Coast of Africa, kept cool from the stifling tropical heat by gentle trade winds, and with mile upon mile of white deserted sand, it was dubbed the “European Caribbean”. With only a five-and-half hour flight from the UK, it seemed a new paradise had been discovered. Read the Mirror‘s own Tour of Cape Verde!

THE GRAND TOUR OF CAPE VERDE

Read The Grand Tour of Cape Verde, Atlantico Weekly’s travel guide to the country’s main islands.

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Atlantico Weekly’s Angola Business News

In Angola on November 17, 2011 at 7:23 pm

POLITICS

President Jose Eduardo dos Santos said he remains available for any mission decided by his MPLA party, signalling he is ready to lead the party in a general election scheduled for the third quarter of next year (Reuters).

Three new tax codes, specifically the General Tax Code, the Tax Process Code and the Fiscal execution Code are due to come into force in Angola on 1 January, 2012 (Macauhub).

INTERNATIONAL

Brazil’s President Rousseff ordered the creation of an “Africa Group” this month led by her trade and industry minister, Fernando Pimentel, to refresh its push in the region. Pimentel will lead government officials and business executives this month on a 10-day mission to explore opportunities in the three countries that Rousseff recently visited – Angola, Mozambique, and South Africa (Reuters).

The International Monetary Fund (IMF) praised the Angolan government for the economic and tax reforms its had put in place and approved the release of the new tranche of its US$134.8 million loan (Macauhub).

Portugal’s prime minister has arrived in oil-rich Angola, which is boosting its investment in its former colonial power caught up in the eurozone debt crisis. Angolan presidential aide Carlos Maria Feijo said Portugal’s privatisation scheme would be discussed (BBC).

President Jose Eduardo dos Santos said his country is ready to help former colonial ruler Portugal as the crisis-hit European country’s prime minister made a visit to drum up investment (AFP).

ECONOMY

Angola and Mozambique are amongst the biggest growing economies over the last decade but, whilst the Angolan economy has grown because of oil, the Mozambican economy has experienced more diverse growth, according to Foreign Policy magazine (Macauhub).

DEFENSE & SECURITY

Planum GP AD, a Serbian construction company, expects to clinch contracts worth $1 billion in Angola when the African country’s defense officials visit Belgrade next month. Work to build a military hospital, arms factories and to rebuild an air base was discussed when Serbian defense minister Dragan Sutanovac’s visited Luanda in September and an agreement may be signed during the coming visit by Angolan defense officials (Bloomberg).

The vicious drug cartels in Colombia and Mexico regularly make headlines, but there has been remarkably less public attention to the growing role of Brazil—and Brazilian organized crime —as a major player in the global trade in illicit narcotics. Angola, which calls Brazil its largest trading partner and ranks among the top destinations for Brazilian exports, is a case in point. Between 2005 and 2009, trade between Brazil and Angola increased from $520 million to $1.5 billion, an increase of 183 percent. By 2009, more than 90 percent of the drugs that reached Angola by air were brought from Brazil, mostly transported by African “mules” (Americas Quarterly).

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BUSINESS

A group of Japanese firms has won a contract that is likely be worth more than 100 billion yen ($1.3 billion) to build a plant in Angola that will produce raw materials for fertilizers, the Nikkei business daily reported (Reuters).

BANKING

Banco Sol, an Angolan lender, granted loans of $500 million for investment projects in the southern African nation this year, the Luanda-based Jornal de Angola reported, citing Coutinho Nobre Miguel, its chief executive officer (Bloomberg).

Angolan bank Banco Africano de Investimentos (BAI) has officially changed its name to Banco Angolano de Investimentos (BAI). The marketing department said that the new name of BAI was due to the need to promote the name of the country, be a brand that represents the values of Angola and create an identity that identifies the bank as having its decision-making centre in Angola (Macauhub).

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OIL & GAS

PT Pertamina, Indonesia’s state- owned oil company, bought three cargoes of West African crude totaling as much as 3 million barrels for loading in December via a tender. The company bought one cargo each of Angolan Nemba and Nigerian Akpo grades from Royal Dutch Shell and one lot of Angolan Girassol blend from Repsol (Bloomberg).

The United State of America will be the main export market for the natural gas produced by the Angola LNG project, the head of the production department of the Oil Ministry, Alcides Santos said in Moscow, Russia (Macauhub).

Cape Verde Politics & Regional News

In Cape Verde on November 10, 2011 at 7:36 pm

POLITICS

President Jorge Carlos Fonseca wants national interests, as well as those of workers, to be safeguarded in the privatization process of Cabnave and Enapor. The President of the Republic spoke after visiting a number of São Vicente-based institutions operating in the maritime sector (A Semana).

Prime Minister José Maria Neves has expressed satisfaction with the “constructive and positive posture” of the social partners with whom he has met over the past several days, and says that the government will continue to make investments in infrastructures and that “there will not be any austerity measures.” The prime minister also agrees with central bank governor Carlos Burgo that the country is not in crisis, but rejects Burgo’s views regarding the need to reorganize the State Budget, which will be submitted to parliament without alterations (A Semana).

Former Cape Verdean President Pedro Pires has been short listed by Forbes magazine as African Personality of the Year for 2011. Pires, 77, is one of five nominees for the honor. The nominee will be announced on the 30th of November, according to Forbes’ web site (Portuguese American Journal).

INTERNATIONAL

One of the main results of the meeting of the group charged with accompanying the Special Partnership between Cape Verde and the European Union is related to the possible increase in European funds to the country. Despite the fact that a final accord has yet to be reached, the proposed figures are already being discussed in Brussels. Also discussed in the meeting was the Partnership for Mobility (A Semana).

Cape Verde prepares strategies to tackle climate change – A report on the vulnerability and adaptation of Cape Verde to climate change to be discussed at the Conference of parties on climate change slated for this month in South Africa, has been presented to the authorities, official sources in the Cape Verdian capital said (Afrique en Ligne).

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BOA VISTA

The recently-created Independent Group for the Sustainable Development of Boa Vista has accused the municipal chamber of selling 18 300-square-meter plots of land located in front of the local hospital in Sal Rei. A pamphlet containing the accusations has been distributed to hundreds of local residents (A Semana).

SAL

Despite a slight recovery in investments and the increase in the number of tourists between 2010 and 2011, the economy of the island of Sal is still not entirely safe from the international crisis, admitted Minister of Tourism, Industry and Energy Humberto Brito, who was on a two-day visit to the island. In Brito’s view, Cape Verde needs to outline strategies to attenuate the effects of the crisis (A Semana).

The government announced that the International Tourism Fair in Cape Verde (Expotur) for 2012  will take place on the island of Sal. More international events will be also attracted to the island (Inforpress).

THE GRAND TOUR OF CAPE VERDE

Read The Grand Tour of Cape Verde, Atlantico Weekly’s travel guide to the country’s main islands.

SANTO ANTAO

On Saturday, November 12, the Aguada de Janela wind farm will be officially inaugurated on the island of Santo Antão. The project, which is projected to have a four 250-KW wind turbines in its final phase, will have a global cost of 100 million escudos. The wind farm already provides 13% of all the electricity produced in the municipalities of Ribeira Grande and Paúl (A Semana).

SAO VICENTE

Filomena Vieira admitted in a press conference today that she would consider running for mayor of São Vicente as long as primaries are not held within the PAICV to select the party’s candidate in the 2012 municipal elections (A Semana).

Cape Verde Business & Economy News

In Cape Verde on November 10, 2011 at 7:35 pm

ECONOMY

The World Bank presented an analysis of Cape Verde’s performance in its 2012 Doing Business report, in which it highlighted the “admirable improvement” in the country’s business environment. Senior World Bank economist Álvaro Gonzalez highlighted the changed introduced by the State Reform Coordination Unit and the government’s efforts at improving conditions for doing business, both of which increase the country’s competitiveness (A Semana).

Cape Verde’s economy is expected to continue growing despite the international crisis, but at a “more moderate” rate the governor of the Bank of Cape Verde (BCV), Carlos Burgo said (Macauhub).

The International Cape Verde Trade Fair (FIC), which takes place in Mindelo on the island of São Vicente between November 16 and 20, will feature an extension on the neighboring island of Santo Antão and a “stopover” in Praia on November 14. The special guest in this year’s edition of the fair is Brazil, a country to which Cape Verdean exports have seen a 22.4% drop this year in relation to 2010 (A Semana).

The World Bank plans to contribute US$4 million to a project to improve the competitiveness of small and medium-sized companies (SMEs) and governance in Cape Verde, the representative of the bank on the archipelago said (Macauhub).

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AVIATION

Halcyonair will resume its domestic flights beginning December 15, A Semana Online has learned. The private airline, which has been grounded since early October, will begin operating again with a single aircraft – an ATR 42-320 that is currently undergoing maintenance in the Canary Islands (A Semana).

The Council of Ministers approved authorization for state-held TACV Cabo Verde Airlines to take out an US$ 800,000 loan at normal bank interest rates in order to renew its fleet (A Semana).

The government signed a contract with the Tunisian company Studi International for drafting a plan for the expansion and modernization of the International Airport of Praia (Inforpress).

ENTREPRENEURS OF CAPE VERDE

Check out Atlantico Weekly’s new feature: Entrepreneurs of Cape Verde, which is a series of short interviews with entrepreneurs in Cape Verde, both homegrown and foreign. We started off with Josephine Sturiale and this week we have an interview with Paulino Dias.

And yes, Atlantico Weekly is looking for more entrepreneurs of Cape Verde to interview. Those interested may contact Atlantico Weekly (atlanticoweekly at gmail.com).

BANKING

The European crisis is expected to have a “contagious” effect on the retail banking business in Cape Verde as it will affect loans and credit lines that have been granted to the archipelago, the chairman of Banco Comercial do Atlântico (BCA) said in Praia (Macauhub).

TELECOMS

In keeping with general downward market trends, CVMóvel has announced an 18% reduction in its standard Nôs Grilo mobile phone rates. The price of the first minute of calls will drop from 33 to 27 escudos, while remaining minutes will continue to cost 10 escudos (A Semana).

TOURISM

Cape Verde was present for the seventh time at the London World Trade Market, one of the world’s largest international tourism fairs,  in a country – the United Kingdom – that nourishes this important economic sector throughout the world. Cape Verde is no exception (A Semana).

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Atlantico Weekly’s Angola Business News

In Angola on November 10, 2011 at 7:33 pm

PROJECT OF THE WEEK

Render of the new Club Nautico for Lobito (Source).

ECONOMY

The new board of the National Private Investment Agency (ANIP) in Angola plans to increase inspection of investment projects agreed with the agency, the new president Maria Luísa Abrantes said in Luanda (Macauhub).

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BANKING

Angola’s parliament approved a law that forces overseas oil companies to pay their taxes and other transactions through the country’s banking system (Reuters).

MINING

Angola Polishing Diamonds SA processes $4 million of gems a month, said Miguel Bondo Junior, director of the company (Bloomberg).

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REGIONAL ANGOLA

The city of Luanda will have seven more shopping centres in 2012 as a result of opportunities created by road restructuring and expansion of the real estate market, according to a study on the prospects for the sector from 2011 to 2014 (Macauhub).

The Huíla industrial park in Angola over the last nine years has attracted investments of US$234 million, most of which in the form of private investment in light industry, the provincial director for Industry, Geology and Mining said in Lubango (Macauhub).

SPLIT SECOND POLLS

Cape Verde Politics & Regional News

In Cape Verde on November 3, 2011 at 9:12 pm

POLITICS

The Cape Verdean government plans to close down and merge services, exercise strict control of the State’s fleet of cars, reduce trips and other expenses, Prime Minister José Maria Neves said (Macauhub).

Cape Verde fell one place in the world ranking for human development, published by the United Nations Development Program (UNDP), but remained in third place amongst countries with Portuguese as an official language (Macauhub).

INTERNAIONAL

Six West African coastal countries will be meeting in Praia to discuss a sub-regional approach on projects to extend the continental shelf beyond 200 miles. Representatives of Cape Verde, Gambia, Guinea, Guinea-Bissau, Senegal and Mauritania will analyse practical issues related to the collection, treatment, management and storage of scientific, technical and seismic data during the third sub-regional meeting of the committee determining the continental shelf (Afrique en Ligne).

China has provided an interest-free loan of 370 million Cape Verdean escudos (US$4.7 million) to Cape Verde to be applied to projects considered to be a priority, chosen by Cape Verde and approved by China (Macauhub).

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DIASPORA

The economic and financial crisis has led Cape Verdean immigrants in Portugal to begin asking for help to return to their home country or to emigrate elsewhere in Europe, according to Cape Verde’s Minister of Communities, Fernanda Fernandes, who is currently visiting the Western European country (A Semana).

MAIO

Maio has really suffered as the forgotten island in terms of turtle conservation as, despite the City Hall’s programme of monitoring & guarding turtles, there has never been a consistent and well coordinated project (SOS Tartarugas).

THE GRAND TOUR OF CAPE VERDE

Read The Grand Tour of Cape Verde, Atlantico Weekly’s travel guide to the country’s main islands.

SANTIAGO

On Santiago all roads led to Poilão reservoir, in São Lourenço dos Órgãos. It was Corn Festival day – whether boiled or grilled, corn on the cob was the main delicacy to be appreciated by the thousands of participants who this year were also be able to go on boat rides on the lake formed by the Polião dam (A Semana).

SAO VICENTE

The Dutch consulate in Mindelo close dits doors after nearly thirty years of operations. Retiree assistance services, the legalization of documents and issuing of passports will now be carried out at the Dutch consulate in Praia, which is likely to cause inconveniences, particularly for former Cape Verdean émigrés in the Netherlands who are now retired and living on the island of São Vicente (A Semana).

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Cape Verde Business & Economy News

In Cape Verde on November 3, 2011 at 9:12 pm

ECONOMY

Prime Minister Jose Maria Neves acknowledged that Cape Verde has already begun to feel the impacts of the international crisis, with financingmore difficult and foreign investments falling (AW/Inforpress).

Cape Verde’s exports totalled 1.225 billion Cape Verdean escudos in the third quarter of the year and imports totalled 18.616 billion escudos, which represented year-on-year rises 96.9 percent and 15.3 percent, respectively, the National Statistics Institute (INE) said in Praia (Macauhub).

The Association of Young Entrepreneurs of Cape Verde (AJEC) called for a revision of the Labour Code in order to include measures to protect the companies, now these days are not “the ideal moment” for the implementation of a 13th month (AW/Inforpress).

Ninety exhibitors from Cape Verde, Brazil, Portugal and the Canary Islands has already exhausted the capacity of the facilities of the 15th International Fair in Cape Verde (FIC), to be held in Mindelo on the island of São Vicente from 16 to 20 November (AW/Inforpress).

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AGRI ETC.

Inca Asmande, one of the leading firms in the Canary Islands’ agrochemical sector, is carrying out a pilot experience in the growing of hybrid papaya in the Sibi Nobo district of the municipality of São Lourenço dos Órgãos. The result of a partnership with a local farmer, the first harvest, which could yield as much as 100,000 kilograms, will supply local markets, as well as hotels on the islands of Sal and Boa Vista (A Semana).

ENTREPRENEURS OF CAPE VERDE

Check out Atlantico Weekly’s new feature: Entrepreneurs of Cape Verde, which will be a series of short interviews with entrepreneurs in Cape Verde, both homegrown and foreign. This week we start off with Josephine Sturiale.

And yes, Atlantico Weekly is looking for more entrepreneurs of Cape Verde to interview. Those interested may contact Atlantico Weekly (atlanticoweekly at gmail.com).

AVIATION

Private charter airline Cabo Verde Express will soon sell seats on its flights to the most sought-after domestic destinations, including Praia, Sal, São Vicente, Boa Vista and Fogo, according to information provided to A Semana Online by company director Carlos Salgueiral.

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REAL ESTATE

Gaining a reputation as an investment safe-haven, Cape Verde property is doing better now than it has been for many years. As the credit crunch rolled over us like a Tsunami, it washed away practically all interest in buying overseas property. Sales of Cape Verde property to foreign buyers died off altogether. But now Cape Verde is experiencing what could be called a surge of overseas demand, with demand particularly strong from British buyers, and particularly for off plan properties (Write about Property).

Atlantico Weekly’s Angola Business News

In Angola on November 3, 2011 at 9:11 pm

PROJECT OF THE WEEK

Render of the three eleven floor Corimba Towers for Luanda (Skyscrapercity).

ECONOMY

Angola’s economy will probably expand by 12 percent next year, Jornal de Angola reported, citing a government budget report. Inflation is likely to be less than 12 percent for 2011 (Bloomberg).

INTERNATIONAL

The case of an 18-year-old Angolan asylum seeker has proved tricky for the Dutch parliament, as politicians debate whether Mauro Manuel should be given the right to remain in the Netherlands (BBC).

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BANKING & FINANCE

Angola’s financial officials have said that Angolan banks that are controlled by Portuguese banking groups may be nationalised. The threat would only be carried out if the Portuguese government interferes in the management of the Portuguese banking groups that require public funding, following the decisions approved by the European Council (Macauhub).

Angola plans to introduce a fund to guarantee bank deposits next year, state news agency Angop cited the country’s central bank Governor Jose de Lima Massano as saying (Reuters).

Interest rates charged by Angolan commercial banks on loans to companies and individuals are too high, Agencia Angola Press reported, citing central bank Governor Jose de Lima Massano (Bloomberg).

Angola’s banking system is likely to expand as “several” foreign lenders apply for licenses to operate there, attracted by the country’s strong economic growth potential, according to accounting firm KPMG LLP (Bloomberg).

The market penetration of the banking system in Angola in 2010 totalled just 11 percent of an estimated population of 18 million despite investments made by financial institutions in expanding business, according to a study on the Angolan banking system (Macauhub).

Banco Africano de Investimentos (BAI) in 2010 was the Angolan banking market leader by total assets totalling 775.692 billion kwanzas, according to a study by KPMG (Macauhub).

The forecast for the business portfolio of Angolan insurance company Empresa Nacional de Seguros (ENSA) for this year is estimated at US$300 million, the commercial director of ENSA, Manuel Assis said (Macauhub).

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OIL & GAS

Privately-owned Argentine oil company, Pluspetrol, expects first output from its Angolan oilfield in the Cabinda region late next year, a senior Pluspetrol official said (Reuters).

Marathon Oil Corp., the U.S. energy producer looking to shed up to $3 billion in assets, is exploring a sale of a stake in Angolan operations for as much as $800 million (Bloomberg).

Oil production in Angola currently stands at 1.75 million barrels per day, which is ten times the level of production in 1975 immediately after the country’s independence, Angola’s Oil Minister said (Macauhub).

SOCIAL

The northern Angolan province of Uige has declared a state of medical emergency after a 14-month-old boy tested positive for polio, which has made a resurgence in the country, Unicef said (News24).