News from Cape Verde, Angola & Mozambique

Atlantico Weekly’s Angola Business News

In Angola on March 15, 2012 at 8:38 pm

POLITICS

A group of youth student protesters joined by a few opposition party members gathered on the streets on the March 10 to express their dissatisfaction with the electoral process and the dictatorial ruling of president Jose Eduardo dos Santos. The protestors were brutalised by a well-organized group of militias (News24).

Angolan police have seized the computers of the weekly Folha 8, after the paper published a photo montage lampooning President Jose Eduardo dos Santos, the Committee to Protect Journalists said (IOL).

Angolan anti-graft campaigner Rafael Marques testified to prosecutors investigating his claims that seven generals committed crimes against humanity in the country’s diamond fields. Marques, also an author, has accused the generals of being behind torture and killings committed by soldiers as well as by private security forces hired to protect diamond concessions in the northeastern Lundas region. He has singled out the Cuango Mining Society, a consortium that includes a company called Lumanhe, in which he says the generals have a stake (AFP).

Angola’s minister of Justice, Guilhermina Prata, said that the adoption of the Law on Domestic Violence in Angola results from the commitment shown by political power to tackle the social issues, especially involving women and children (AllAfrica).

Angola’s opposition Unita has been dealt a blow by the defection by a top member to form another party. Mr Abel Chivukuvuku, 54, formally quit to launch his Broad Convergence of Angolan Salvation (CASA) party. He declared his candidacy for the presidency in the September election, saying the poll would mark the opening of a “new page” in Angolan politics (Africa Review).

ECONOMY

President José Eduardo dos Santos, signed four Presidential Decrees ensuring the  support for entrepreneurs and creating  conditions for a greater participation of the private sector in the national economy. A note issued by the Civil Office of the President of the Republic, mentions the Presidential Decrees approving Law No. 30/11 of September 13 on Micro, Small and Medium Enterprises (MSME’s), the Programme of Support for Micro, Small and Medium Enterprises, the Programme of Support to Small Business (PROAPEN) and the establishing of the Single Counter of Entrepreneurs (BUE) (AW).

Angola plans to invest $1,8bn to help create small and medium-sized businesses, develop existing ones and reduce the economy’s dependence on the state, the state-owned daily newspaper Jornal de Angola said (BusinessDay).

INTERNATIONAL

At a ceremony in Namibia government ministers from Angola, Botswana, Namibia, Zambia and Zimbabwe put their official seal on a cross-border treaty set to combine 36 nature preserves and surrounding areas (Washington Post).

Angolan Foreign Minister Georges Chicoti’s visit to London in late February allowed the minister to present a vivid picture of how his government, ten years after the civil war, likes to see its place in the world. His address pointed to an Angola that is ready to use its financial and military might to assert itself beyond its own borders (AllAfrica).

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BUSINESS

106-year-old Sporting Lisbon soccer club is looking for an investor to ensure it has enough funds to make it through this season and next, said Godinho Lopes, who traveled to the oil-producing former Portuguese colony of Angola this year (Bloomberg).

SAP AG, the biggest maker of enterprise-management software, will open an office in Angola this year as it expands its network in Africa, where it plans to double sales of its small-business offering (Bloomberg).

The Entrepreneurial Support Centre of the Angola’s Chamber of Commerce and Industry (CAE), Unicarga and Prodiaman Services have been awarded the Gold Quality Prize of the  international organisation Initiative Directions in Geneva, in recognition of their services (ANGOP).

BANKING

Finibanco Angola, a Portuguese and Angolan owned bank opened its first branch in the city of Lobito, in Benguela province (AW).

OIL

Sonangol is in talks to buy a direct stake in Portugal’s Galp Energia , which holds interests in four oil blocks and a gas export project offshore Angola. Sonangol is negotiating to buy half of Italian group Eni’s 33.3 percent stake in Galp, board member Sebastiao Gaspar Martins told Reuters.

Offshore vessels provider Tidewater Inc said Sonatide, its partnership with Angola’s state oil company, will not take up new charters or extend existing ones in the country until the two parties resolve ongoing joint venture talks. Tidewater said its venture agreement with Angola’s Sonangol expires on March 31, but Sonangol has put forth additional and modified terms to the partnership contract (Reuters).

Angola may hold a new oil-bidding round next year, a senior official at state-owned oil company Sonangol EP said. “We haven’t decided yet on the areas on offer,” Gaspar Martins, an executive board member at Sonangol, told reporters at a conference in Kuwait. Some may be onshore, some deepwater, he said (Bloomberg).