News from Cape Verde, Angola & Mozambique

Archive for April, 2013|Monthly archive page

Cape Verde Business News

In Cape Verde on April 25, 2013 at 12:40 am

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CAPE VERDE FLIGHT GUIDE WINTER 2012/2013

Welcome on Board! Check out Atlantico Weekly’s latest feature, the Cape Verde Flight Guide, with TACV Cape Verde Airlines Winter 2012-13 timetable and an overview of all flights to and from Cape Verde. Coming soon is the 2013 Summer Edition!

BEST RESTAURANT OF CAPE VERDE 2013

Participate in this year’s poll! Nominate your candidates for Best Restaurant of Cape Verde in 2013. Please go to the Best Restaurant page and fill in the form, thank you! Tambem em Portugues!

BEST CAPE VERDE MUSIC & BOOKS

Be welcome to check out Atlantico Weekly’s music cd and book store in cooperation with Amazon.com! Browse the Atlantico Store for the latest and best Cape Verde and Angolan music, like Cesaria Evora, Tito Paris, Lura, Nancy Vieira, Mayra Andrade, Bonga and many others…! Also use the Atlantico Store to find relevant maps, books on politics, economics and history as well as travel or tourist guides about Cape Verde and Angola. You order straight with Amazon, one of the best online stores in the world. Enjoy!

ECONOMY

The International Monetary Fund revised its economic growth forecast for Cape Verde for 2013 downwards, estimating a slowdown to 4.1% due to the crisis in Europe and increased competition in tourism.

THE GRAND TOUR OF CAPE VERDE

Check out The Grand Tour of Cape Verde, Atlantico Weekly’s travel guide to the country’s main islands Santiago, Sal, Santo Antao, Boa Vista and Sao Vicente. Agora tambem em Portugues!

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AGORA TAMBEM EM PORTUGUES!

O Grand Tour de Cabo Verde esta a ser traduzido em Portugues! Começamos na Ilha de Santiago e ja seguimos para a Ilha de Sao Vicente e a Ilha de Santo Antao

AGRI ETC

The official release of the Maria Chaves wines, a project spearheaded by the Solidarity and Development Association, will take place on April 30. The product will only go on sale in the Cape Verdean market, however, in June, according to Father Octávio Fassano, the mentor of the project elaborated by the Capuchin Order in Cape Verde (A Semana).

TOURISM

Sal Rei town hosted the first “Gastronomic Week” on the island of Boa Vista, in order to “boost the local catering”. It has enrolled 12 local restaurants, press reported.

AVIATION

Low cost carrier Transavia, owned by Air France/KLM, will start operating flights between Amsterdam and Sao Vicente from October 2013, in addition to their flights from Paris Orly and their flights to Sal that are already operational.

BUSINESS

The Minister of Tourism, Industry and Energy, Humberto Brito, announced the interest of several foreign companies in the privatization of Electra (the company responsible for the production of water and electricity in Cape Verde).

ENTREPRENEURS OF CAPE VERDE

spencerlima

Check out Atlantico Weekly’s Entrepreneurs of Cape Verde, a series of short interviews with entrepreneurs in Cape Verde, both homegrown and foreign!

SANTIAGO

The complex of São Jorginho, outside Praia, will host a future military school and agri-business incubator, the President of the Cape Verdean Solidarity Foundation (FCS), Vanusa Cardoso told the local press.

SANTO ANTAO

Thirty exhibitors from the three municipalities of Santo Antão have confirmed their presence at the third edition of the “kmida de terra” (traditional food), on the Island. The opening takes place on April 27th.

CAPE VERDE IN 2030

Atlantico Weekly is looking ahead! Check out our Cape Verde in 2030 with a realistic glimpse of how Cape Verde will look like in the next decades …!

Angola Business News

In Angola on April 25, 2013 at 12:39 am

THE RISE OF THE PACS

Meet three booming Portuguese-speaking African Countries. The rise of the what? Another acronym, you say? Well, why not… In Portuguese the countries are called PALOPs, the Paises Africanos de Lingua Oficial Portuguesa (or African Countries with Portuguese as Official Language). So we call them PACs. Three PACs have become booming economies and nobody is stopping them: Cape Verde, Angola and Mozambique. Check it out.

NEWS

The United Nations’ top human rights official urged Angola’s government on Wednesday to reduce the huge disparities between rich and poor that have developed in the oil-rich country despite considerable progress since the end of a 27-year civil war in 2002, Reuters reported.

ECONOMY

A total of 4,500 kilometres of roads are being repaired under the terms of the
programme for road conservation and maintenance of the Angolan National Roads
Institute (INEA), local press reported.

BEST ANGOLA MUSIC & BOOKS

Be welcome to check out Atlantico Weekly’s music cd and book store in cooperation with Amazon.com! Browse the Atlantico Store for the latest and best Angolan music, like Waldemar Bastos, Bonga and many others…! Also use the Atlantico Store to find relevant maps, books on politics, economics and history as well as travel or tourist guides about Angola. You order straight with Amazon, one of the best online stores in the world. Enjoy!

BANKING & FINANCE

Banco Angolano de Investimentos SA, Angola’s largest bank by assets, is forecasting 10 percent revenue growth this year as Africa’s second-biggest oil and gas- producing nation expands. The company wants a slice of the $1 billion that a new petroleum-industry banking law may add to the economy this year, Bloomberg reported. It also plans to add 15 branches for a total of 116 in the country, he said. The bank’s profits fell 15 percent to $180 million in 2012, while revenue rose 10 percent to $581 million.

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OIL & GAS

Sonangol, Angola’s state oil company, and Cohydro of neighboring Democratic Republic of Congo will develop a shared oil block off the coast of the two countries. The nations each control half of the block, which is in a so-called zone of common interest that overlaps with part of Angola’s block 14 in the Atlantic Ocean (Bloomberg).

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OPINION

Our latest opinion article is a reaction to a recent piece in The Economist: Can Brazil Conquer Africa’s Booming Markets?

 

BRAZIL WEEKLY

Be very welcome to also visit our sister publication, Brazil Weekly, with news about developments in Brazil. Check out for instance our City Briefs about the country’s most important economic centers, with lots of relevant information for business travellers…enjoy!

Cape Verde Business News

In Cape Verde on April 18, 2013 at 8:11 am

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INTERNATIONAL

Cape Verde has ratified the agreement on visa facilitation with Angola that will further boost trade relations, business, academic and cultural ties between the two countries,  the Cape Verde Foreign Minister announced.

OPINION

Our latest opinion article is a reaction to a recent piece in The Economist: Can Brazil Conquer Africa’s Booming Markets?

CAPE VERDE FLIGHT GUIDE WINTER 2012/2013

Welcome on Board! Check out Atlantico Weekly’s latest feature, the Cape Verde Flight Guide, with TACV Cape Verde Airlines Winter 2012-13 timetable and an overview of all flights to and from Cape Verde. Coming soon is the 2013 Summer Edition!

BEST RESTAURANT OF CAPE VERDE 2013

Participate in this year’s poll! Nominate your candidates for Best Restaurant of Cape Verde in 2013. Please go to the Best Restaurant page and fill in the form, thank you! Tambem em Portugues!

BEST CAPE VERDE MUSIC & BOOKS

Be welcome to check out Atlantico Weekly’s music cd and book store in cooperation with Amazon.com! Browse the Atlantico Store for the latest and best Cape Verde and Angolan music, like Cesaria Evora, Tito Paris, Lura, Nancy Vieira, Mayra Andrade, Bonga and many others…! Also use the Atlantico Store to find relevant maps, books on politics, economics and history as well as travel or tourist guides about Cape Verde and Angola. You order straight with Amazon, one of the best online stores in the world. Enjoy!

ECONOMY

In the 1st quarter of 2013 the climate indicator maintained its downward trend of recent quarters, ie, the pace of economic growth continues to slow. The indicator recorded the lowest value of the last thirty-two (32) consecutive quarters and is below the series average. It is also observed that the economic climate indicator developed negatively over the same period of the year in 2012 and the economic situation appears unfavorable. This conjunctural diagnosis is the result of the findings submitted by entrepreneurs in the construction, property, tourism, manufacturing, transport and auxiliary transportation services (INE).

In March 2013 the Consumer Price Index was 2.6%, down 0.5 % to the figure recorded in the previous month. The monthly variation observed between February and March of 2013 was negative (-0.5%), higher by 0.2% as to the previous month (INE).

The Economist Intelligence Unit (EIU) foresees a “slowdown” of Cape Verde’s economic growth in 2013. After growing in 2o12 for an impressive 4,6%, this year GDP growth of “just” 4.3% is forecast, a figure that may rise again in 2014 to 4.5% per year.

THE GRAND TOUR OF CAPE VERDE

Check out The Grand Tour of Cape Verde, Atlantico Weekly’s travel guide to the country’s main islands Santiago, Sal, Santo Antao, Boa Vista and Sao Vicente. Agora tambem em Portugues!

SPLIT SECOND POLL

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AGORA TAMBEM EM PORTUGUES!

O Grand Tour de Cabo Verde esta a ser traduzido em Portugues! Começamos na Ilha de Santiago e ja seguimos para a Ilha de Sao Vicente

TOURISM

Cape Verde’s first casino, to be called Casino Royal, is expected to open its doors in approximately two years in Santa Maria, on Sal Island. The government and the company that will operate the casino have signed a concession contract authorizing the latter to operate a gambling enterprise in the country, A Semana reported.

AVIATION

TAP Air Portugal intends to open a third route from Portugal to Cape Verde. Apart from Sal, Praia and Sao Vicente, the company will probably add Boa Vista to its network, something that will boost tourism on the island.

BUSINESS

Portuguese company Gesto Energia will provide consulting services for and supply equipment to Cape Verde’s state electricity utility Electra. The accord between the two companies will have a 15-month duration, and calls for the payment of 890,000 Euros for the consultancy and some 2 million Euros in equipment, A Semana reported.

ENTREPRENEURS OF CAPE VERDE

Check out Atlantico Weekly’s Entrepreneurs of Cape Verde, a series of short interviews with entrepreneurs in Cape Verde, both homegrown and foreign!

SANTO ANTAO

The company Águas e Esgoto do Ceará (Cagece) announced a sanitation project for Santo Antao. The initiative is part of the international expansion strategy of the company, a public enterprise from the northeastern Brazilian state of Ceará.

The project for the Hotel Sinagoga Resort in Ribeira Grande, Santo Antão Island, will be overhauled. Works on the resort have been halted a year ago and before they will restart again (in June 2013) the whole project will have to be moved some meters away from the edge of the ocean, to respect local rules on building by the sea. The concept of the resort will also be changed: instead of 70 rooms, the four star hotel will now get 100 rooms. The additional houses will number 42 instead of 44 and will be completely furnished, A Semana reported.

CAPE VERDE IN 2030

Atlantico Weekly is looking ahead! Check out our Cape Verde in 2030 with a realistic glimpse of how Cape Verde will look like in the next decades …!

Angola Business News

In Angola on April 18, 2013 at 8:10 am

THE RISE OF THE PACS

Meet three booming Portuguese-speaking African Countries. The rise of the what? Another acronym, you say? Well, why not… In Portuguese the countries are called PALOPs, the Paises Africanos de Lingua Oficial Portuguesa (or African Countries with Portuguese as Official Language). So we call them PACs. Three PACs have become booming economies and nobody is stopping them: Cape Verde, Angola and Mozambique. Check it out.

ECONOMY

Sub-Saharan Africa economic growth may expand 6.1 percent this year, as investment in the continent’s commodities grow, The World Bank said. Angola may have positive net exports due to diversification, the World Bank said as well according to Bloomberg.

Angola expects its stock exchange to have a market value of 10 percent of gross domestic product within 18 months of its startup, making it at least the continent’s sixth biggest. The capitalization of the exchange, which is set to start in 2015, would be a minimum of $11 billion based on last year’s output of $114 billion, Archer Mangueira, president of the Capital Markets Commission, said in an interview on April 10 in Luanda, the capital. South Africa’s bourse is the continent’s largest at $842 billion, more than double its GDP (Bloomberg).

Angola said it missed its own deadline to publish an investment policy for a planned $5 billion sovereign wealth fund due to a legal challenge, slowing efforts to diversify its oil-dependent economy (Reuters).

BUSINESS

Sonangol plans to re-launch Lobinave, a company specialised in building medium-sized ships as well as ship maintenance and repair in Lobito, local press reported.

BEST ANGOLA MUSIC & BOOKS

Be welcome to check out Atlantico Weekly’s music cd and book store in cooperation with Amazon.com! Browse the Atlantico Store for the latest and best Angolan music, like Waldemar Bastos, Bonga and many others…! Also use the Atlantico Store to find relevant maps, books on politics, economics and history as well as travel or tourist guides about Angola. You order straight with Amazon, one of the best online stores in the world. Enjoy!

PROJECT OF THE WEEK

Render of the future World Trade Center, to be built in Luanda.

BANKING & FINANCE

Banco Angolano de Investimentos (BAI), Angola’s biggest bank by assets, posted a second straight fall in full-year profit on Wednesday, hit by surging bad loans. Local lenders, which include units of Portugal’s BPI and BES, are grappling with sour debts: recent central bank data shows bad debts totalled 5.5 percent of all loans as of June 2012, more than double since the start of the year, Reuters reported.

Sol Bank will expand internationally with new branches in Windhoek and Oshakaty cities, Namibia, with an initial capital of five million dollars, Angop reported.

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SAO TOMÉ & PRINCIPE

We hardly hear from this tiny country, but a surging São Tomé is waiting for oil in the Gulf of Guinea. Check out the article in Foreign Affairs (registration required).

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OIL & GAS

One Angolan crude cargo for loading in May, out of 60 consignments in total, hasn’t been sold, four traders who participate in the market said. That’s a bigger proportion of sold cargoes than normal for this stage of the month, Bloomberg reported.

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BRAZIL WEEKLY

Be very welcome to also visit our sister publication, Brazil Weekly, with news about developments in Brazil. Check out for instance our City Briefs about the country’s most important economic centers, with lots of relevant information for business travellers…enjoy!

Mozambique Business News

In Mozambique on April 18, 2013 at 8:09 am

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NEWS

Mr Dhlakama’s warmongering needs to be understood in the context of waning political support for his opposition Renamo party, his intention to strengthen his political position in the country in general, and among his party’s cadres and sympathisers in particular, BusinessDay reports. Nevertheless, his actions could dent Mozambique’s image as a secure place to do business.

At least 100 Mozambican troops have graduated after completing intensive training in Zimbabwe, amid reports that Mozambique is facing a threat from former rebels, Renamo (News24).

The Bank of Brazil is expected to provide funding to build the Moamba Major dam, which will supply drinking water to Mozambican capital Maputo, local press reported.

BEST MOZAMBIQUE MUSIC & BOOKS

Check out our Atlantico Store, now with an interesting collection of books about Mozambique as well as music from the country, all available through Amazon. Browse our collection here.

ECONOMY

The new table of minimum wages in Mozambique was approved by the Council of Ministers and will be retroactively applied to 1 April. The mining sector saw the greatest rise, of 31.91 percent, and its workers are now paid a minimum of 4,651 meticals (US$114.3), local press reported.

Mozambique ‘s economy will expand 8 percent next year, the fastest pace in Sub-Sahara Africa, according a report by the IMF, Bloomberg reported.

BUSINESS

Portuguese construction compnay Mota-Engil forecast in March that its order book this year will exceed 3.5 billion euros as it seeks to increase its presence in Mozambique and other markets in Africa. The company “is studying some possible projects in Mozambique”, a country it reckons “has great potential because it is rich in minerals and gas and the country has to develop the proper infrastructures to transport its minerals.” Mota-Engil is building a stretch of a railway line in Malawi for Brazilian mining company Vale that links Mozambique’s western province of Tete to the country’s northern port of Nacala (Bloomberg).

AGRI ETC.

The New Alliance for Food Safety and Nutrition, an initiative of the G8 group of industrialised nations, which includes the European union, plans to channel US$380 million in the Mozambican agricultural sector by 2015, the United States ambassador said, Macauhub reported.

MINING

Foreign mining firms are betting in Mozambique on one of the world’s largest untapped reserves of premium hard coking coal relatively close to Africa’s east coast, a prime location for feeding hungry markets in Asia. About $20bn is needed to revive Mozambique’s railways and ports, industry leaders estimate, a massive cost for a country the United Nations lists as the third poorest. Read about the sector’s challenges as it bets on higher coal prices in the near future in BusinessDay.

Hundreds of protesters blocked access to a coal mine owned by the Brazilian group Vale, demanding compensation for the loss of livelihood caused by resettlement. The group used stones to block two roads and a railway line leading to Vale’s Moatize mine, in the coal-rich north western province of Tete, and demanded to speak to management (News24).

PORTS & LOGISTICS

Grindrod, Africa’s largest shipping company, and Mozambique’s Maputo Port Development Co. plan to invest $1.7 billion over the next five years to upgrade ports in the country as demand grows. Capacity will be tripled at the Maputo and Matola ports to 50 million tons by 2020 from 15 million tons, the MPDC said (Bloomberg).

Coal of Africa says it will be able to resume railing export coal from its Mpumalanga, South Africa, collieries to Maputo by next month after a derailed freight train stopped deliveries for two months, BusinessDay reported.

The Botswana Diamonds group has been granted an additional license to prospect for diamonds on the Save River, in Mozambique next to the Zimbabwean border, in partnership with Mozambican company Morminas, local press reported.

Production of heavy sands concentrate by Irish company Kenmare Resources at the Moma heavy sands project, in Mozambique, reached 189,900 tons in the first quarter, which was a quarterly rise of 20.9 percent, local press reported.

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OIL & GAS

Eni and Anadarko Petroleum Corp., the two companies plan four LNG production units in Mozambique with a total capacity of 20 million tons a year. This project would make it the world’s second-largest export site behind Ras Laffan in Qatar, where Exxon Mobil Corp. is a partner. As things stand, Mozambique would be the biggest LNG project without the participation of one of the so-called supermajors: Exxon, Shell, BP, Chevron and Total. Read Bloomberg’s analysis.

Mozambique will receive most of its royalties after explorers recover their costs, according to the Center for Public Integrity. The government will receive its portion of the overall revenue far down the production timeline, it reported. The country’s royalty rates depend on how deep the companies have to go to extract the gas. As all the gas finds are in waters deeper than 500 meters (1,640 feet), only the lowest of these potential rates is relevant, Bloomberg reported.

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Cape Verde Business News

In Cape Verde on April 11, 2013 at 2:41 pm

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INTERNATIONAL

Undercover U.S. agents have arrested the former navy chief of Guinea Bissau, wanted by Washington as a kingpin of the international drugs trade, in a sting operation off the coast of West Africa, Reuters reported. Rear Admiral Jose Americo Bubo Na Tchuto was detained by anti-narcotics officers along with four other people on a boat in international waters and was transported to Cape Verde, from where he would be sent on to the United States for prosecution (Reuters).

OPINION

Our latest opinion article is a reaction to a recent piece in The Economist: Can Brazil Conquer Africa’s Booming Markets?

CAPE VERDE FLIGHT GUIDE WINTER 2012/2013

Welcome on Board! Check out Atlantico Weekly’s latest feature, the Cape Verde Flight Guide, with TACV Cape Verde Airlines Winter 2012-13 timetable and an overview of all flights to and from Cape Verde. Coming soon is the 2013 Summer Edition!

BEST RESTAURANT OF CAPE VERDE 2013

Participate in this year’s poll! Nominate your candidates for Best Restaurant of Cape Verde in 2013 before April 10th, 2013. Please go to the Best Restaurant page and fill in the form, thank you! Tambem em Portugues!

BEST CAPE VERDE MUSIC & BOOKS

Be welcome to check out Atlantico Weekly’s music cd and book store in cooperation with Amazon.com! Browse the Atlantico Store for the latest and best Cape Verde and Angolan music, like Cesaria Evora, Tito Paris, Lura, Nancy Vieira, Mayra Andrade, Bonga and many others…! Also use the Atlantico Store to find relevant maps, books on politics, economics and history as well as travel or tourist guides about Cape Verde and Angola. You order straight with Amazon, one of the best online stores in the world. Enjoy!

THE GRAND TOUR OF CAPE VERDE

Check out The Grand Tour of Cape Verde, Atlantico Weekly’s travel guide to the country’s main islands Santiago, Sal, Santo Antao, Boa Vista and Sao Vicente. Agora tambem em Portugues!

SPLIT SECOND POLL

CULTURE

After launching the first edition in 2009 and the success of following editions, top notch Kriol Jazz Festival in Praia will make the streets of the Cape Verdean capital resonate again from April 10th to the 13rd 2013. Meet a panel of creole artists for a human and musical exchange around this 5th edition’s schedule.

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AGORA TAMBEM EM PORTUGUES!

O Grand Tour de Cabo Verde esta a ser traduzido em Portugues! Começamos na Ilha de Santiago e ja seguimos para a Ilha de Sao Vicente

ECONOMY

Fitch Ratings has revised the Outlook on Cape Verde’s Long-term foreign currency Issuer Default Rating (IDR) to Negative from Stable and affirmed it at ‘B+’. The Long-Term local currency IDR has been downgraded to ‘B+’ from ‘BB-‘. The Outlook is Negative (Reuters).

PROJECT OF THE WEEK

Render of the Baia de Fateixa resort project for Sao Vicente Island.

BUSINESS

Cape Verde company Cabeólica is one of the best public-private partnerships (PPP) in Southern-Saharan Africa, according to the International Financial Corporation (IFC), of the World Bank group. With estimated investment of 60 million euros, 45 million of which came from development banks and Danish group Vestas as the group’s strategic supplier and installer, Cabeólica has contributed to improving the environment in Cape Verde through production of renewable energy, the IFC said (Macauhub).

ENTREPRENEURS OF CAPE VERDE

Check out Atlantico Weekly’s Entrepreneurs of Cape Verde, a series of short interviews with entrepreneurs in Cape Verde, both homegrown and foreign!

SAL

The fifth edition of the Tourism Fair of Cape Verde (Expotur) will run from July 12 to 14 in Santa Maria on Sal Island. This year the slogan will be “Nosso País, Nossa Diversidade, Nôs Terra, Nôs Diversidade” (Our Country, Our Diversity).

CAPE VERDE IN 2030

Atlantico Weekly is looking ahead! Check out our Cape Verde in 2030 with a realistic glimpse of where and how Cape Verde will look like in the next decades …!

Angola Business News

In Angola on April 11, 2013 at 2:40 pm

THE RISE OF THE PACS

Meet three booming Portuguese-speaking African Countries. The rise of the what? Another acronym, you say? Well, why not… In Portuguese the countries are called PALOPs, the Paises Africanos de Lingua Oficial Portuguesa (or African Countries with Portuguese as Official Language). So we call them PACs. Three PACs have become booming economies and nobody is stopping them: Cape Verde, Angola and Mozambique. Check it out.

NEWS

Isabel dos Santos’s name is more widely known since, earlier this month, Forbes declared her the continent’s first female billionaire but, in her native Angola, she belongs to an elite that is so secretive it has been described as a “cryptocracy”. Read this interview in BusinessDay to get to know her better.

Torrential rains left nine people dead and flooded hundreds of homes in Luanda, local media reported.

ECONOMY

Thwarted by global financial crisis in 2009 and debt arrears in 2011 – the chance of Angola launching a debut Eurobond are better third time round thanks to its booming oil economy and foreign hunger for African debt. Angola plans to raise $1 billion through a Eurobond issue this year (Reuters).

BEST ANGOLA MUSIC & BOOKS

Be welcome to check out Atlantico Weekly’s music cd and book store in cooperation with Amazon.com! Browse the Atlantico Store for the latest and best Angolan music, like Waldemar Bastos, Bonga and many others…! Also use the Atlantico Store to find relevant maps, books on politics, economics and history as well as travel or tourist guides about Angola. You order straight with Amazon, one of the best online stores in the world. Enjoy!

AGRI ETC.

Agriculture in Angola, once the world’s fourth-biggest coffee producer, is being held back by limited competition and processing facilities and a lack of cooperation among small-scale farmers. The country for instance requires 4.5 million metric tons a year of grain, Bloomberg reported.

AVIATION

More and more African airlines are flying to Luanda: Ethiopian Airlines, Arik Air Nigeria, Equaflight, Kenya Airways, Royal Air Maroc, Air Namibia, Mozambique’s LAM and SAA all offer flights to and from Angola now, local press reported.

SAO TOMÉ & PRINCIPE

We hardly hear from this tiny country, but a surging São Tomé is waiting for oil in the Gulf of Guinea. Check out the article in Foreign Affairs (registration required).

SUBSCRIBE!

You can subscribe to Atlantico Weekly here. It’s free! Atlantico Weekly is now also on Facebook. Be welcome to join our group! You can follow Atlantico Weekly on Twitter at atlanticoweekly. Also be welcome to join our Atlantico Weekly networking and discussion group on Linkedin.

MINING

Angola has cut mine taxes and plans to spend billions of dollars to attract investment into mineral deposits, Geology and Mines Minister Francisco Queiroz said. The projects include the $900 million Cassinga iron-ore mine, planned fertilizer output of 400,000 metric tons a year and a $400 million manganese development. A mining law enacted in November that cut tax to 25 percent from 35 percent was followed by investment from companies including diamond producer De Beers and Sumitomo Corp., which is developing an ammonia and urea plant, Bloomberg reported.

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OIL & GAS

Angola’s government approved the guidelines of a plan to hold bidding for licences to explore for oil onshore in the Kwanza and Lower Congo basins. Angola, which is Africa’s second-largest oil producer after Nigeria, plans to ramp up crude output to 2 million barrels per day (mbpd) in 2015 from around 1.75 mbpd last year.State oil firm Sonangol, which is the main player in the oil sector in Angola, is also in charge of awarding licences. Sonangol is to seek bids for 10 onshore oil blocks in the Kwanza basin and five in the Lower Congo basin in northern Angola (Reuters).

Proven and probable oil reserve in Angola are estimated to total 12.667 billion barrels following the latest discoveries in shallow, deep and ultra-deep water, the Angola Oil Minister said, local press reported.

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SPLIT SECOND POLLS

BRAZIL WEEKLY

Be very welcome to also visit our sister publication, Brazil Weekly, with news about developments in Brazil. Check out for instance our City Briefs about the country’s most important economic centers, with lots of relevant information for business travellers…enjoy!

Mozambique Business News

In Mozambique on April 11, 2013 at 2:38 pm

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NEWS

The leader of Mozambique’s main opposition party RENAMO claimed responsibility for a series of attacks in which eight people died this month. Three people were killed in an attack on a bus in the central district of Muxungue, while four members of Mozambique’s special police force and a militiaman loyal to the Mozambican National Resistance, or Renamo, as the party is known, died in clashes in the same area (Bloomberg).

BEST MOZAMBIQUE MUSIC & BOOKS

Check out our Atlantico Store, now with an interesting collection of books about Mozambique as well as music from the country, all available through Amazon. Browse our collection here.

ECONOMY

Angola and Mozambique are the first choices of Portuguese businesspeople when asked about where they plan to invest in 2013, according to an annual survey by Travelstore American Express. Of the 229 companies surveyed, in sectors such as retail, construction and technology, 30 percent said that the Mozambican market was their preferred target, 22 percent said they intended to invest in Angola and 17 percent chose Brazil, which in 2012 was the second most popular destination, now taken up by Angola, Macauhub reported.

A proposal for a new minimum wage in Mozambique is due to be presented by the Consultative Labour Council by 15 April for analysis by the Council of Ministers, according to Mozambican news agency AIM (Macauhub reported).

AVIATION

Linhas Aéreas de Moçambique (LAM) last week increased the number of flights it offers from Maputo to Luanda from two to three, in response to an increase in traffic between the two capitals. LAM is the only air carrier providing direct flights between Maputo and Luanda, local press reported.

MINING

Australian company Baobab Resources has said that the latest update of iron ore resources available in the Tenge-Ruoni region, in Mozambique’s Tete province, point to the possibility of a large pig-iron operation. The update, which was made by Australian consultancy Coffey Mining, increased estimates for existing iron ore reserves to 727 million tons. As well as this, the update showed that of the total estimated reserves, 535 million tons are concentrated in an area of just 2.5 square kilometres (Macauhub).

Nippon Steel Trading Co., a subsidiary of Japanese group Nippon Steel & Sumitomo Metal Corp, has been awarded an exploration license for the Revuboé project, in Tete province. The group plans to start developing the mining project by the end of the year so that commercial exploration can begin in 2016. The Minas do Revuboé coal project in Tete province has estimated reserves of 1.4 billion tons and an estimated annual production of 5 million tons of coking coal. The Japanese group plans to import around 1.7 million tons of coking coal from Mozambique, which is around 6 percent of annual coal imports, Macauhub reported.

PORTS & LOGISTICS

Mozambique has named miner Rio Tinto as one of six preferred bidders for a new $3 billion railway and port development project to boost coal exports, the country’s transport minister said. The tender is for a 525 kilometre (325-mile) rail line from Tete province to Macuse, in Zambezia province, and for a new port able to initially handle 25 million tonnes of cargo per year, with a potential to double that in the future (Reuters).

The port of Maputo will receive investment of around US$400 million to improve conditions. By improving conditions at the port the management company plans to respond to the increase in cargo, which in 2012 totalled 15 million tons, local press reported.

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OIL & GAS

Mozambique’s Cabinet approved the southern African nation’s petroleum law, which sets out timelines on reporting discoveries and stipulates that some revenue from fields must be allocated to communities. While the law has been sent to the nation’s lawmakers for approval, there’s no date set for its discussion in the Maputo-based parliament (Bloomberg).

Osaka Gas Co, Japan’s second biggest supplier of city gas, has identified offshore Mozambique as one of several regions in which it would be interested in making an upstream investment, Reuters reported.

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Cape Verde Business News

In Cape Verde on April 4, 2013 at 8:40 am

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INTERNATIONAL

United States President Barack Obama said the leaders of four sub-Saharan countries in Africa are consolidating democratic gains, leading to more stable governments and economic growth. Presidents Ernest Bai Koroma of Sierra Leone, Macky Sall of Senegal, Joyce Banda of Malawi, and Prime Minister José Maria Pereira Neves of Cape Verde, met with Obama. The leaders discussed ways to strengthen democratic institutions in sub-Saharan Africa, and how to expand trade and investment, Bloomberg reported.

OPINION

Our latest opinion article is a reaction to a recent piece in The Economist: Can Brazil Conquer Africa’s Booming Markets?

CAPE VERDE FLIGHT GUIDE WINTER 2012/2013

Welcome on Board! Check out Atlantico Weekly’s latest feature, the Cape Verde Flight Guide, with TACV Cape Verde Airlines Winter 2012-13 timetable and an overview of all flights to and from Cape Verde. Coming soon is the 2013 Summer Edition!

BEST RESTAURANT OF CAPE VERDE 2013

Participate in this year’s poll! Nominate your candidates for Best Restaurant of Cape Verde in 2013 before April 10th, 2013. Please go to the Best Restaurant page and fill in the form, thank you! Tambem em Portugues!

BEST CAPE VERDE MUSIC & BOOKS

Be welcome to check out Atlantico Weekly’s music cd and book store in cooperation with Amazon.com! Browse the Atlantico Store for the latest and best Cape Verde and Angolan music, like Cesaria Evora, Tito Paris, Lura, Nancy Vieira, Mayra Andrade, Bonga and many others…! Also use the Atlantico Store to find relevant maps, books on politics, economics and history as well as travel or tourist guides about Cape Verde and Angola. You order straight with Amazon, one of the best online stores in the world. Enjoy!

THE GRAND TOUR OF CAPE VERDE

Check out The Grand Tour of Cape Verde, Atlantico Weekly’s travel guide to the country’s main islands Santiago, Sal, Santo Antao, Boa Vista and Sao Vicente. Agora tambem em Portugues!

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CULTURE

The 29th edition of the International Music Festival of Baia das Gatas takes place this year from August 16th-18th, as always on Sao Vicente Island.

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AGORA TAMBEM EM PORTUGUES!

O Grand Tour de Cabo Verde esta a ser traduzido em Portugues! Começamos na Ilha de Santiago e ja seguimos para a Ilha de Sao Vicente

ECONOMY

The Cape Verde government plans this year to issue domestic debt worth 3 billion escudos (US$34.2 million) in order to partially fund its 2013 State Budget, local press reported.

The seventeenth edition of the Cape Verde International Fair (FIC’2013) will take place from  November 20th-24th, in Mindelo, Sao Vicente Island.

ENTREPRENEURS OF CAPE VERDE

Check out Atlantico Weekly’s Entrepreneurs of Cape Verde, a series of short interviews with entrepreneurs in Cape Verde, both homegrown and foreign!

CAPE VERDE IN 2030

Atlantico Weekly is looking ahead! Check out our Cape Verde in 2030 with a realistic glimpse of where and how Cape Verde will look like in the next decades …!

Angola Business News

In Angola on April 4, 2013 at 8:40 am

THE RISE OF THE PACS

Meet three booming Portuguese-speaking African Countries. The rise of the what? Another acronym, you say? Well, why not… In Portuguese the countries are called PALOPs, the Paises Africanos de Lingua Oficial Portuguesa (or African Countries with Portuguese as Official Language). So we call them PACs. Three PACs have become booming economies and nobody is stopping them: Cape Verde, Angola and Mozambique. Check it out.

NEWS

Angolan police arrested 18 activists staging a rare anti-government rally in the capital Luanda. The protesters accused the president of mismanaging Angola’s oil revenues, suppressing human rights and doing too little to end corruption and poverty, News24 reported.

A South African fire detection system will be used to deal with Angola’s wildfire problem. It had been dubbed the Advanced Fire Information System (Afis), News24 reported.

ECONOMY

Economic growth in Angola remains robust and in both 2012 and 2013 is expected to total 8 percent, but dependence on oil remains too high, accounting for 95 percent of exports, Deutsche Bank said (Macauhub).

Angola’s Minister for Industry in Lisbon suggested that European industrial companies with modern technology should transfer themselves to Angola, ahead of declaring insolvency due to the European economic and financial crisis, Angop reported.

BEST ANGOLA MUSIC & BOOKS

Be welcome to check out Atlantico Weekly’s music cd and book store in cooperation with Amazon.com! Browse the Atlantico Store for the latest and best Angolan music, like Waldemar Bastos, Bonga and many others…! Also use the Atlantico Store to find relevant maps, books on politics, economics and history as well as travel or tourist guides about Angola. You order straight with Amazon, one of the best online stores in the world. Enjoy!

BUSINESS

Angolan state insurance company Empresa Nacional de Seguros de Angola, television company Televisão Popular de Angola and railroad company Caminhos-de-ferro de Benguela were the only Angolan public companies that presented accounts for the 2012 financial year, local press reported.

SAO TOMÉ & PRINCIPE

We hardly hear from this tiny country, but a surging São Tomé is waiting for oil in the Gulf of Guinea. Check out the article in Foreign Affairs (registration required).

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OIL & GAS

China National Petroleum Corp and Malaysia’s Petronas are considering bids for Marathon Oil Corp’s stakes in two Angolan offshore oil and gas fields, Reuters reported.

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BRAZIL WEEKLY

Be very welcome to also visit our sister publication, Brazil Weekly, with news about developments in Brazil. Check out for instance our City Briefs about the country’s most important economic centers, with lots of relevant information for business travellers…enjoy!

Mozambique Business News

In Mozambique on April 4, 2013 at 8:38 am

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NEWS

A neo-colonial exploitation is under way in Mozambique, dominated not by Europe or the US, but rather by countries including Brazil, Russia, India, China and South Africa (BRICS), South Africa’s BusinessDay reported.

Mozambique borders Kruger and many of the poachers stalking rhino in park are drawn from its poor villages. They are usually heavily armed and are paid by organised crime syndicates, according to police and conservationists. Reuters reports on the shooting of three suspected Mozambican poachers.

ECONOMY

Fitch Ratings says in a new report that the growth in sovereign ratings in sub-Saharan Africa (SSA) over the past decade has helped increase foreign direct investment (FDI) flows to the region. In addition to South Africa and Nigeria (the main FDI recipients), new commodity countries have gained in importance (e.g. Angola, Ghana, Mozambique, Uganda, Zambia). Mozambique was the second largest recipient in SSA after South Africa for greenfield FDI in 2011 (Fitchratings).

AVIATION

Airline Moçambique Express (Mex), a subsidiary of flagship airline Linhas Aéreas de Moçambique (LAM), has boosted its fleet of aircraft with an Embraer 145 aircraft, with capacity for 50 passengers.

MINING

The Mozambican government has decided to close the Mining Promotion Fund and replace it with the Geology and Mining Institute. The Mining Promotion Fund was set up in 1988 with the mission of providing technical and financial support to small-scale and artisanal mines whilst the Geology and Mining Institute is intended to boost and expand capacity to research, analyse, treat, process and interpret geological and mining data and to certify mining products, the press reported.

Anglo American has scrapped its plans to acquire a majority holding in Revuboè metallurgical coal project in Mozambique for $555m. However, in spite of abandoning the plan, Anglo said it would continue “with its objective of establishing a position in the emerging metallurgical coal basin in Mozambique” (FT).

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PROJECT OF THE WEEK

Render of the 25 floor or 78 meters Deco Residence tower now being completed in the Polana area of Maputo (Source).

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LNG

Eni SpA, the oil and gas company that agreed to sell a 20 percent stake in the Area 4 block to China National Petroleum Corp. for $4.2 billion last month, is likely to pay the government $538 million to $1.4 billion in capital gains tax. Mozambique has increased capital gains tax to 32 percent as it seeks to reap greater revenue from its natural resources. That compares with the 12.8 percent levied on PTT Exploration & Production Pcl’s June purchase of Cove Energy Plc assets (Bloomberg).

Statoil agreed to sell a 25 percent share in its license off Mozambique to Japan’s Inpex Corp. The license consists of two blocks in areas 2 and 5 in the Rovuma Basin, where the Stavanger-based company will drill two wells in the second quarter (Bloomberg).

Etablissements Maurel & Prom Chief Executive Officer Jean-Francois Henin said that while he has had contacts about a possible takeover or merger of the French oil and gas explorer, getting a deal has proved elusive. Plans for this year also include activities in Mozambique, Bloomberg reported.

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