News from Cape Verde, Angola & Mozambique

Archive for July, 2013|Monthly archive page

Cape Verde Business News

In Cape Verde on July 25, 2013 at 5:57 pm

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– INTERVIEW –

Atlantico Weekly recently spoke with Cape Verde’s Prime Minister José Maria Neves about Cape Verde’s business opportunities, development strategy, privatisations, new property tax law, international relations and much more in: Islands of Sun and Freedom in a Sea of Opportunities

– ENTREVISTA –

Atlantico Weekly falou com o Primeiro-Ministro de Cabo Verde, Dr José Maria Neves, sobre as opportunidades de negócios em Cabo Verde, a stratégia de desenvolvimento, mudanças na tributação, as privatisações, as relações internacionais e muito mais em: Ilhas de Sol e Liberdade num Mar de Oportunidades

VOTE NOW

FOR

BEST RESTAURANT OF CAPE VERDE 2013!

Participate in this year’s poll! Vote for your candidates for Best Restaurant of Cape Verde in 2013.

BEST CAPE VERDE MUSIC & BOOKS

mayra

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!

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ECONOMY

The National Statistics Institute (INE) has revised its estimate of the Gross Domestic Product growth rate for 2011 from 5.1% to 4%, according to the results of the National Accounts presented this Friday in Praia. Director of National Accounts Silvina Santos affirms, however, that the economy nevertheless showed improvement over 2010, A Semana reported.

AGRI ETC.

The municipality of São Salvador do Mundo on the island of Santiago saw its crown jewel fficially opened this weekend: the Faveta dam, a hydraulic infrastructure that will make between 900,000 and one million cubic meters of water available per year to irrigate 86 hectares of lands both upstream and downstream from the reservoir it has created, A Semana reported.

The 1st edition of the Cape Verde International Agro-Business Fair, to be held from 26 to 28 July, will be attended by over 30 companies from Portugal, Brazil, Spain (Canary Islands) and Cape Verde. The venue for the fair is the Cape Verde International Fair (FIC) and its aim, according to Cape Verde’s Rural Development Minister, Eva Ortet, is to promote creation of new agricultural companies, due to the several waterway and dam projects underway across the archipelago, local press reported.

AVIATION

Air passenger traffic registered a 2.1% drop in the first half of 2013 in comparison to the same period in 2012, caused essentially by the reduction in domestic airline activities, which saw a decrease in 15.7%. International traffic increased 8.8%, with the most significant increases seen in São Vicente (up 31.9%), Sal 813.9%) and Praia (7%). Sal’s Amílcar Cabral International Airport was the only to see overall growth (3.7%), with all others registering deceases in traffic ranging from 38% (Maio) to 1.2% (São Vicente) (A Semana).

BANKING & FINANCE

Cape Verdean commercial bank Banco Comercial do Atlântico (BCA) will invest all of the profit it registered in 2012 – a total of 339 million escudos – in line with orientations from the Bank of Cape Verde. BCA’s shareholders unanimously approved the decision. Of the total of 339 million escudos in net profits from the 2012 financial year, 10%, or 33,908,000 escudos, will be channeled into the BCA’s legal reserves, while the remaining 305,179,000 escudos will go into other reserves, A Semana reported.

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

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!

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 July 25, 2013 at 5:56 pm

NEWS

The Angolan capital Luanda has overtaken Tokyo to become the world’s most expensive city for expatriates in a survey of 214 cities by Mercer, which cited security for pushing up costs (Bloomberg).

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SPLIT SECOND POLL

– INTERVIEW –

ANGOLA BEYOND OIL & GAS

maria luisa abrantes

Check out our first feature story about Angola, an interview with Maria Luisa Abrantes, Director of ANIP, Angola’s Investment Agency: Angola Beyond Oil & Gas

ECONOMY

Angola is experiencing a robust recovery after several years of relatively slow growth in the wake of the global financial crisis, according to World Bank data published last month. Angola is Africa’s second-largest producer of oil and has substantial mineral resources. Although affected by the global economic climate and volatile oil pricing, Angola is recovering quickly. It is increasing its fiscal and monetary discipline, reducing debt and increasing social spending on areas such as infrastructure, health and education, and initiatives to diversify the economy (Businessday).

Angola expects to double its gross domestic product (GDP), which is currently US$120 billion per year, by 2024 officials said in Luanda at the launch of a study on Angolan business competitiveness.

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BUSINESS

Just three in every hundred companies established in Angola are still operating one year after they were created, Angolan news agency Angop reported. Noted difficulties are access to credit, a lack of qualified human resources, excessive bureaucracy in company licensing processes, deficient water supply and power facilities as well as roads and telecommunications, as well as the State’s poor support of local companies by buying goods and services in the country.

Angola’s automatic teller machine (ATM) system, known as Multicaixa, in the next few months is expected to have over 1 million transactions per day, exceeding the current level of 700,000 transactions per day, local press reported.

AGRI ETC.

Angola is targeting sugar self-sufficiency as Brazil’s Odebrecht SA starts harvesting from a plantation the size of Manhattan, Brooklyn and The Bronx combined next year. The 42,000-hectare (101,514 acre) farm, the country’s biggest, is to begin production by June and ramp up to 260,000 metric tons a year by 2018, Bloomberg 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!

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PROJECT OF THE WEEK

luandahoteltowers

Render of a yet unnamed hotel tower complex for Luanda

OIL & GAS

Angola LNG Marketing expects to export 5.2 million tons of liquid natural gas (LNG) per year through 70 shipments, the company said. As well as LNG, the company, which provides the commercial operations of the Angola LNG project, will also have gases such as propane and condensates in its portfolio of products.

Angola will export 1.67 million barrels of oil per day (bpd) in September, which is slightly less than in August, according to the provisional loading schedule on the London future market, cited by financial news agency Reuters.

Mozambique Business News

In Mozambique on July 25, 2013 at 5:54 pm

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NEWS

President Guebuza and Frelimo are expected to try to pacify Dhlakama and his Renamo partisans with a settlement that includes more state jobs and patronage, but the two sides are still bickering over where their leaders should meet. While Dhlakama is widely viewed as a spent force, other opposition politicians share his complaints that Guebuza and Frelimo are imposing a virtual one-party rule under a mantle of democracy (Reuters Analysis).

BEST MOZAMBIQUE MUSIC & BOOKS

cantora

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.

BUSINESS

Cement company Cimpor – Cimentos de Portugal plans to increase its cement milling capacity in Mozambique by 220,000 tons per year through its local subsidiary Cimentos de Moçambique, the Brazilian-owned group said to local press.

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SPLIT SECOND POLLS

INFRA

The Sena railroad is due to start operating Friday following work to remove 23 coal trucks that were derailed early Monday morning, according to state port and rail company, Portos e Caminhos de Ferro de Moçambique (CFM), local press reported.

MINING

Midwest Africa is carrying out the environmental pre-feasibility study to begin coal exploration in Zóbuè, in the north of the Moatize district of Mozambique’s Tete province, local press reported. The future mine will be located approximately 50 kilometres northeast of the municipality of the city of Tete with a license covering a total area of 15,840 hectares, of which an area of 8,000 hectares contains at least 10 layers of coal and the four deepest layers are believed to contain high quality coking coal.

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OIL & GAS

The Cachalote-1 exploration well off the coast of Mozambique, drilled with operator Statoil and others, encountered gas that isn’t commercial and didn’t find oil, Tullow Oil said. The company is searching for oil close to where others have made the century’s biggest natural gas discoveries off the East African coast (Bloomberg).

BRAZIL WEEKLY

Check out our sister publication Brazil Weekly, with editions appearing every Friday!

buzios

THE RISE OF THE PACS

Meet three booming Portuguese-speaking African Countries.

maputobridge

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.

OPINION

A reaction to a recent piece in The Economist: Can Brazil Conquer Africa’s Booming Markets?

Cape Verde Business News

In Cape Verde on July 18, 2013 at 12:34 pm

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Are you planning on doing business in Cape Verde? Get there with

Atlantico Business Development

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– INTERVIEW –

Atlantico Weekly recently spoke with Cape Verde’s Prime Minister José Maria Neves about Cape Verde’s business opportunities, development strategy, privatisations, new property tax law, international relations and much more in: Islands of Sun and Freedom in a Sea of Opportunities 

– ENTREVISTA –

Atlantico Weekly falou com o Primeiro-Ministro de Cabo Verde, Dr José Maria Neves, sobre as opportunidades de negócios em Cabo Verde, a stratégia de desenvolvimento, mudanças na tributação, as privatisações, as relações internacionais e muito mais em: Ilhas de Sol e Liberdade num Mar de Oportunidades 

VOTE NOW

FOR

BEST RESTAURANT OF CAPE VERDE 2013!

Participate in this year’s poll! Vote for your candidates for Best Restaurant of Cape Verde in 2013.

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!

ADVERTISE NOW ON ATLANTICO WEEKLY AND GET HUGE DISCOUNTS!

Atlantico Weekly now offers huge discounts to companies wishing to promote their business on our website.

Rates for ads with picture, link and a bit of text in one of the three columns on our front page now start at only 499 Euros for a 26 weekly edition period or only 999 Euros for a 52 weekly edition period (excluding taxes and money transfer costs).

Contact us for more info and our range of other advertising and promotion offers!

ECONOMY

In June  2013 the rate of change in the Consumer Price Index was 1.2%, down 0.2% compared to the previous month. The monthly variation observed between May and June of 2013 was (0.0%), identical to the previous month. The average for the last twelve months was 2.8%, identical to the previous month (INE).

The second quarter of 2013 revealed that the climate indicator continued the downward trend of recent quarters, ie, the pace of economic growth continues to slow down, and the indicator recorded the lowest value of the last thirty-four (34) consecutive quarters, below the series average. It is also observed that the economic climate indicator developed negatively over the same period of the year 2012 and the economic situation is unfavorable. Read this at INE.

AVIATION

Within a single 24-hour period, TACV Cabo Verde Airlines postponed two flights that were supposed to have left Cape Verde for Portugal. Some 200 passengers were held up July 15, on the island of Sal, A Semana reported.

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!

ADVERTISEMENT


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

TOURISM

The fifth edition of the Cape Verde Tourism Fair, Expotur, is now under way, displaying existing tourist sector products and revealing the investment opportunities that each of Cape Verde’s islands has to offer, A Semana reported. With the theme “Our land, our diversity,” Expotur 2013 has brought together more than 50 exhibitors for the three-day event, including tourism-sector companies, tourist agencies and investors from Cape Verde and other countries. The opening ceremony took place Friday afternoon and was presided over by Prime Minister José Maria Neves.

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 how Cape Verde will look like in the next decades …!

Angola Business News

In Angola on July 18, 2013 at 12:32 pm

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Rates for ads with picture, link and a bit of text in one of the three columns on our front page now start at only 499 Euros for a 26 weekly edition period or only 999 Euros for a 52 weekly edition period (excluding taxes and money transfer costs).

Contact us for more info and our range of other advertising and promotion offers!

SPLIT SECOND POLL

– INTERVIEW –

ANGOLA BEYOND OIL & GAS

maria luisa abrantes

Check out our first feature story about Angola, an interview with Maria Luisa Abrantes, Director of ANIP, Angola’s Investment Agency: Angola Beyond Oil & Gas

ECONOMY

Angola’s inflation rate stood at the single-digit figure of 9.11 percent in the first quarter of 2013, down 2.02 percentage points year-on-year, local press reported.

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BUSINESS

Portugal’s Sumol+Compal group plans to build a factory in Angola to produce juices and non-alcoholic beverages with four Angolan partners, local press reported.

AVIATION

TAAG Angola Airlines will offer flights to London or Paris starting in the second half of 2014, the airline’s director said, adding that the number of passengers rose by 15 percent in 2012 to more than 1.1 million.

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!

MINING

Sociedade Mineira de Catoca Lda., the operator of Angola’s largest diamond mine, plans to expand processing capacity to maintain output as the pit deepens. Catoca will add a mill to the five already running at the site. The expansion will allow the mine to keep the same rate of production for three decades, he said, without specifying when the new facility will be built (Bloomberg).

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PROJECT OF THE WEEK

bengmarginal

Render of a tower for Benguela’s new beach front.

OIL & GAS

Angola’s monthly crude exports will slip in September to 1.67 million barrels per day (bpd), a
provisional shipping list showed, indicating that Africa’s number two oil producer may struggle to reach an output target for next year. OPEC member Angola, which pumps nearly all of its oil from offshore fields, was scheduled to export 1.70 million bpd in August (Reuters).

Angola produced 157.2 million barrels of oil in the first quarter of the year, an average of 1.75 million barrels per day, local press reported.

Mozambique Business News

In Mozambique on July 18, 2013 at 12:30 pm

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ECONOMY

A total of 77 countries have invested nearly US$1.6 billion in the Nacala Special Economic Zone in Nampula province since 2009, creating more than 14,000 jobs, local press reported. The establishment of that special area for industrial units, tourism complexes and service providers had increased pressure on infrastructures.

BEST MOZAMBIQUE MUSIC & BOOKS

cantora

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.

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.

MEET OUR CONSULTANCY

Are you planning on doing business in Mozambique? Get there with

Atlantico Business Development

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more here.

SPLIT SECOND POLLS

MINING

The Vale Moçambique mining company set a new record in June by extracting 509,000 tons of coal and a new mineral outflow maximum by transporting 300,000 tons of coal on the Sena railway line. Altiberto Brandão, operational director of the Brazilian Vale group’s Mozambican subsidiary, said the company had been producing at maximum capacity since April 2012, local press reported.

The railway line under construction between Moatize and Nacala-a-Velha may begin operating in September 2014, the Mozambican press reported. The Brazilian group is the main investor in construction of the 912 km long line linking the mining region of Mozambique’s Tete province to Nacala port in Nampula province, passing through Malawi.

The Rio Tinto mining group lost part of a 1,386-ton cargo of coal when the 42-wagon train transporting it on the Sena railway line derailed, the Mozambican press reported. The accident happened on Monday in the Caia district of Sofala province, when the train was travelling between Moatize and the port of Beira.

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Rates for ads with picture, link and a bit of text in one of the three columns on our front page now start at only 499 Euros for a 26 weekly edition period or only 999 Euros for a 52 weekly edition period (excluding taxes and money transfer costs).

Contact us for more info and our range of other advertising and promotion offers!

BRAZIL WEEKLY

Check out our sister publication Brazil Weekly, with editions appearing every Friday!

buzios

THE RISE OF THE PACS

Meet three booming Portuguese-speaking African Countries.

maputobridge

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.

OPINION

A reaction to a recent piece in The Economist: Can Brazil Conquer Africa’s Booming Markets?

Cape Verde Business News

In Cape Verde on July 11, 2013 at 7:57 am

MEET OUR CONSULTANCY

Are you planning on doing business in Cape Verde? Get there with

Atlantico Business Development

  • business diplomacy
  • economic intelligence
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more here.

– INTERVIEW –

Atlantico Weekly recently spoke with Cape Verde’s Prime Minister José Maria Neves about Cape Verde’s business opportunities, development strategy, privatisations, new property tax law, international relations and much more in: Islands of Sun and Freedom in a Sea of Opportunities

– ENTREVISTA –

Atlantico Weekly falou com o Primeiro-Ministro de Cabo Verde, Dr José Maria Neves, sobre as opportunidades de negócios em Cabo Verde, a stratégia de desenvolvimento, mudanças na tributação, as privatisações, as relações internacionais e muito mais em: Ilhas de Sol e Liberdade num Mar de Oportunidades

NEWS

Cape Verde’s Financial Information Unit (UIF) has until August to apply to become a member of the Egmont Group of Financial Intelligence Units, and is currently in the process of translating legislation, local press reported.

Preservation of memory is critical to the Jewish psyche, and in Cape Verde there is an uplifting story of remembrance that defies the all-too-common narrative of anti-Semitism and persecution. Hebrew and Portuguese inscriptions grace typical Sephardic Jewish tombstones in four small cemeteries on three islands in Cape Verde (Washington Post).

In his remarks at a Round Table focusing on Cape Verde’s economic success story, the Executive Secretary of the UN Economic Commission for Africa (ECA) Mr. Carlos Lopes, lauded the country’s “development enablers”, namely peace and security, good governance, macroeconomic stability, and sound institutions. The roundtable was devoted to the analysis of Cape Verde’s development trajectory. The country joined the World Trade Organization in 2007 and graduated from the Least Developed Countries category in 2008. According to the session, the Island State has continued to make progress towards achieving inclusive growth, despite the effects of the economic crisis (AllAfrica).

Forty-three World War II Cape Verdean veterans were honored in concert with a photography exhibit by Ron Barboza called “Cape Verdean Courage: Heroes of WWII” at the Whaling Museum. The program was part of the Cape Verdean Recognition Week observances (South Coast Today).

MultiChoice Africa, in partnership with Thema, has launched TCV – Cape Verde Television, a Portuguese language channel. The new channel is now available for DStv subscribers in Angola and Mozambique on all Portuguese packages (TV News).

VOTE NOW

FOR

BEST RESTAURANT OF CAPE VERDE 2013!

Participate in this year’s poll! Vote for your candidates for Best Restaurant of Cape Verde in 2013.

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!

ADVERTISE NOW ON ATLANTICO WEEKLY AND GET HUGE DISCOUNTS!

Atlantico Weekly now offers huge discounts to companies wishing to promote their business on our website.

Rates for ads with picture, link and a bit of text in one of the three columns on our front page now start at only 499 Euros for a 26 weekly edition period or only 999 Euros for a 52 weekly edition period (excluding taxes and money transfer costs).

Contact us for more info and our range of other advertising and promotion offers!

ECONOMY

The Cape Verde economy slowed down in 2012 to around 1% growth, A Semana reported, quoting a report by the Bank of Cape Verde. Inflation went down to around 2.5%, as opposed to 4.5% in 2011.

The most recent Economist Intelligence Unit (EIU) report places Cape Verde among Africa’s most stable countries in 2013 and 2014. The report warns, however, that the economic and social outlook could cause tensions in the country as a result of the high level of unemployment, the vulnerability of the economy and the drop in remittances from Cape Verdeans living abroad (A Semana).

Cape Verde is in second place in a table drawn up by Think Africa Press based on the opinions of over 120 world masters in finances, who wanted to analyse African countries beyond their Gross Domestic Product (GDP) (The Portugal News).

AVIATION

The new flight connection between Praia and Casablanca, with a stopover in Bissau, is moving full speed ahead. Two months after introducing the operation, Royal Air Maroc will now increase the frequency of the flights from two per week to three, A Semana reported.

The President of the Board of Directors of Halcyonair confirmed that his company is in negotiations with Angolan companies, but said that there is nothing concrete yet, local press reported.

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!

ADVERTISEMENT


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

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 how Cape Verde will look like in the next decades …!

Angola Business News

In Angola on July 11, 2013 at 7:57 am

NEWS

The Angolan government plans to repair 15,500 kilometres of its primary road network between 2013 and 2017, the Minister for Finance, Armando Manuel said.

Angola and Namibia will build in the coming 18 months a joint dam in the border zone of Cunene river. Without the disclosing the budget, an official said that the work is part of a bi-national project and the dam will have the capacity to produce 600 megawatts of electricity, half of this capacity will be destined to Angola.

ADVERTISE NOW ON ATLANTICO WEEKLY AND GET HUGE DISCOUNTS!

Atlantico Weekly now offers huge discounts to companies wishing to promote their business on our website.

Rates for ads with picture, link and a bit of text in one of the three columns on our front page now start at only 499 Euros for a 26 weekly edition period or only 999 Euros for a 52 weekly edition period (excluding taxes and money transfer costs).

Contact us for more info and our range of other advertising and promotion offers!

SPLIT SECOND POLL

– INTERVIEW –

ANGOLA BEYOND OIL & GAS

maria luisa abrantes

Check out our first feature story about Angola, an interview with Maria Luisa Abrantes, Director of ANIP, Angola’s Investment Agency: Angola Beyond Oil & Gas

ECONOMY

José Filomeno dos Santos, the son of Angola’s veteran president, has rebuffed criticism of his appointment as chairman of the oil-rich nation’s nascent $5bn sovereign wealth fund, insisting it will be run transparently as it prepares to start deploying its cash (FT).

Angola’s foreign exchange reserves rose to $34.4 billion in May from $33 billion in April, the central bank said.

Angola will benefit from a law requiring foreign companies to use local currency as it takes effect, Central Bank Governor Jose de Lima Massano said. Angola passed a law last year that required foreign oil companies to start using kwanzas, the local currency, to pay taxes beginning in May. Since July 1 foreign companies must pay all domestic suppliers in kwanzas, and after Oct. 1, they have to pay foreign suppliers via Angolan bank accounts in either local or foreign currency (Bloomberg).

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BANKING & FINANCE

Banco Espírito Santo Angola (BESA) opened another seven branches, thus increasing its network to 54 branches across Angola, local press reported.

PROJECT OF THE WEEK

centrocomlobito

Render of the Kitanda Shopping Centre for Lobito.

INFRA

The Angolan Maritime-Port Institute (IMPA) is planning to build a 10-kilometre river channel between Xangongo (Cunene) and Rivungo (Kuando Kubango), in the south of the country, with a view to transporting goods and people, local press reported.

BEST ANGOLA MUSIC & BOOKS

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OIL & GAS

Angola will produce 2 million barrels of the fuel a day next year or in 2015, meeting a target it had planned to reach in 2013, the country’s oil minister said. Production this year has averaged 1.751 million barrels a day while reserves are now estimated at 12.777 billion barrels (Bloomberg).

BRAZIL WEEKLY

Check out our sister publication Brazil Weekly, with editions appearing every Friday!

THE RISE OF THE PACS

Meet three booming Portuguese-speaking African Countries.

maputobridge

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.

OPINION

A reaction to a recent piece in The Economist: Can Brazil Conquer Africa’s Booming Markets?

Mozambique Business News

In Mozambique on July 11, 2013 at 7:55 am

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NEWS

South Korea may become the “most important economic partner” of Mozambique, the South Korean vice-minister for Industry, Trade and Energy said in Maputo, advising the Mozambican government to promote industrialisation in the country. Choi Kyong-Lim was visiting the Mozambican capital in the scope of a bilateral business forum focusing on mineral resources and energy, local press reported. Mozambique should learn from the South Korean industrialisation experience to “assure continued economic growth,” he said.

India plans to open up three credit lines for Mozambique worth a total of US$217 million to fund public works and housing projects. Agreements for the new credit lines were signed at the end of the meeting of the Mozambique-India Mixed Cooperation Commission, local press reported.

The Mozambican police have confirmed that an operation by the defence and security forces on 6 July destroyed the guerrilla camp used by members of Renamo when they launched the attacks in late June. The Renamo camp was at Mangomonhe, in Chibabava district, in the central province of Sofala (AllAfrica).

The leader of Mozambique’s main opposition party, the former rebel movement Renamo, Afonso Dhlakama, claimed on Sunday that he is optimistic about dialogue between Renamo and the government, and believes that the two sides should reach consensus soon. Dhlakama was speaking at his camp in Satunjira, in the central district of Gorongosa, at the end of a meeting with the Anglican bishop of the Libombos diocese, Dinis Sengulane, and prominent academic Lourenco do Rosario (AllAfrica).

The Mozambique immigration authorities are refusing to issue visas on arrival to some foreign nationals entering the country for business or work purposes. They have stated that, where possible, the visa should be obtained at the Mozambique consulate in the applicant’s country of residence prior to arrival. Visas on arrival are still available for people travelling to Mozambique for tourism or for foreign nationals who have travelled from a country where there is no Mozambique consular representation (Relocate).

ECONOMY

Fitch Ratings has upgraded Mozambique’s long-term credit rating in foreign currency from B to B+, while maintaining the national currency credit rating at B+.

The Mozambican government should continue implementing prudent fiscal policy as the mining industry will, in the short term, continue to have a limited impact on State revenues, the International Monetary Fund (IMF) recommended.

BEST MOZAMBIQUE MUSIC & BOOKS

cantora

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AGRI ETC

The sugar industry is serving as a model for development of commercial agriculture in Mozambique, demonstrating the country’s potential in this sector, according to the Economist Intelligence Unit (EIU). Last year, sugar production totalled 243,538 tons, or 23 percent more than in 2011, and was the second most important exported agricultural product, after tobacco, the EIU said.

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REAL ESTATE

With its tree-lined avenues, warm sea breezes, sidewalk cafés and Portuguese-style villas, Maputo has a reputation as one of southern Africa’s most charming cities. Its crumbling, cracked pavements and sleepy air also give testimony to the fact that the city is the capital of one of the world’s poorest countries. But its image is fast changing as Mozambique starts to cash in on the rush of mining and gas companies to its shores, a phenomenon that has sparked an unprecedented property boom in Maputo (FT).

MINING

Anglo-Australian group Rio Tinto has re-launched coal transport to the port of Beira along the Sena railroad after a two-week stoppage due to fear of conflicts in the region, said state port and rail company Portos e Caminhos de Ferro de Moçambique (CFM).

Auroch Minerals has breathed life into a Mozambican prospect that has been languishing in Pan African Resources, and it is now pushing ahead with a study that will result in a small mine, with the potential to consolidate nearby properties (BusinessDay).

The Africa Great Wall Mining Development Company, Ltd, a firm backed by Chinese capital, plans to begin exploiting and processing heavy sands in the Nicoadala, Inhassunge and Chinde districts of Mozambique’s Zambézia province at the end of this year, local press reported.

Afrifocus Resources Limitada, a company with Indian capital, has obtained a licence to prospect for titanium and other associated metals on islands off the coast of the Angoche district in Mozambique’s Nampula province, local press reported.

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TOURISM

With its picture-postcard Indian Ocean beaches, unspoilt coral reefs and laid-back southern African charm, Mozambique has been slowly putting its civil war past behind it and emerging as an attractive, albeit slightly chaotic, tourist destination. But the threat of renewed conflict in a country still haunted by 16 years of war in which a million people died has dealt a major blow to the tourism drive (Reuters).

Cape Verde Business News

In Cape Verde on July 4, 2013 at 9:08 am

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– INTERVIEW –

Atlantico Weekly recently spoke with Cape Verde’s Prime Minister José Maria Neves about Cape Verde’s business opportunities, development strategy, privatisations, new property tax law, international relations and much more in: Islands of Sun and Freedom in a Sea of Opportunities

– ENTREVISTA –

Atlantico Weekly falou com o Primeiro-Ministro de Cabo Verde, Dr José Maria Neves, sobre as opportunidades de negócios em Cabo Verde, a stratégia de desenvolvimento, mudanças na tributação, as privatisações, as relações internacionais e muito mais em: Ilhas de Sol e Liberdade num Mar de Oportunidades

NEWS

Paulo Pereira, considered the mastermind of the drug-trafficking ring dismantled with the seizure of 1,500 kilograms of cocaine in Praia in October of 2011, has been sentenced to 22 years in prison after being found guilty on charges of drug trafficking, money laundering and racketeering. His sister, Ernestina (better known as Nichinha) has been sentenced to 13 years behind bars, while his mother, Ivone, has been sentenced to 11 years. Former Cape Verde Stock Exchange president Veríssimo Pinto will spend nine and a half years in jail after being found guilty of money laundering and criminal association, while real-estate company Editur and its boss, José Teixeira, were found not guilty of all charges (A Semana).

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BEST CAPE VERDE MUSIC & BOOKS

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ECONOMY

The Netherlands plans to provide 12 million euros to fund the Sao Vicente Cruise Ship Terminal, a project that is expected to be operation in August 2015. The Sao Vicente Cruise Ship Terminal is expected to cost 35 million euros, according to Minister Jorge Borges. The project is considered important as current facilities are not adequate to receive cruise ships properly. The terminal will be built in the area where Interbase was previously located. It will have a 300 metre mooring quay, which is considered to be “enough” for cruise ships to moor in Cape Verde, local press reported.

Cape Verde’s Commission for Social Dialogue has approved the archipelago’s first minimum wage and set it at 11,000 Cape Verdean escudos (100 euros) per month, according to the Cape Verdean press.

BUSINESS

The net profit of CV Telecom in 2012 dropped of 40 percent compared to that of 2011, Chairman of the Board of Directors of the company, Manuel Inocêncio, announced.

AGRI ETC.

Cape Verde now has its first Hydroponics and Protected Crops School. The new center, which occupies a total area of two hectares in the outlying Praia neighborhood of Achada de São Filipe, has a total of 5,000 square meters of greenhouses with a capacity to produce up to 65,000 kilograms of food products per cycle – in other words, 12 to 14 kilos per square meter in two to three annual cycles. In addition, it will be used to train farmers and technicians and to carry out research aimed at improving agricultural production (A Semana).

Cape Verde’s first agribusiness fair was officially announced by Minister of Rural Development Eva Ortet. Between July 27 and 29, Praia will host a fair of economic activities linked to the agricultural and farming sectors. So far, some 30 companies from Brazil, the Canary Islands, Portugal, Senegal and, of course, Cape Verde, have registered to take part (A Semana).

AVIATION

There are as yet unconfirmed reports that an Angolan consortium made up of airlines Sonair (owned by oil company Sonangol) and Air26 will take over Cape Verde’s defunct private airline Halcyonair and become shareholders for no less than 80%. The refreshed company may renew operations with three Embraer turboprops for domestic flights and one Embraer 175 passenger jet for regional connections, according to Angolan press reports. Halcyonair will also move its headquarters from Sal to Praia, according to the same sources. As a side note: both Angolan companies appear on the so called EU blacklist of airlines banned on flying to the EU.

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

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 ANTÃO

The project for the transformation of the former military base in Porto Novo into a center of arts and crafts will include the creation of an auditorium, local press reported.

Construction of a new airport and the set up of a university on Santo Antao are two key projects for the development of the  island, the three local mayor’s stated.

Farmers on Santo Antão have begun to invest in the production of grapes. The idea to cultivate grape vines, in addition to the island’s signature crops of sugarcane, coffee, fruits and vegetables, comes from the local delegate of the Ministry of Rural Development in Ribeira Grande, who affirms that the fruit can serve as an alternative to sugarcane at the end of its growing cycle (A Semana).

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 July 4, 2013 at 9:07 am

NEWS

Angola pushed back plans for the start of stock-exchange trading by a year to 2016, with a futures and commodities market set to begin a year later. Angola expects its stock exchange to have a market value of 10 percent of gross domestic product within 18 months of its start up, he said in April. Angola’s largest banks, which include Banco Angolano de Investimentos SA and Banco de Poupanca e Credito SA, as well as mobile-phone companies Unitel SA and Movicel Telecomunicacoes Lda., are expected to list on the exchange, Bloomberg reported.

Angola also pushed back the start of its secondary market for bonds to the first quarter of next year. The publicly traded market for the Angolan notes had been planned to start by the end of September. The market, which will use electronic trading, will add to Treasury bills already bought and sold among financial institutions and help develop a so-called yield curve, Bloomberg reported.

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– INTERVIEW –

ANGOLA BEYOND OIL & GAS

maria luisa abrantes

Check out our first feature story about Angola, an interview with Maria Luisa Abrantes, Director of ANIP, Angola’s Investment Agency: Angola Beyond Oil & Gas

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!

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OIL & GAS

Oil sector companies operating in Angola are required since Monday to make tax payments to the state and to pay local suppliers exclusively in kwanzas, Angola’s national currency. The Law on the Oil Sector Foreign Exchange Regime includes this requirement, local press reported.

Italian oil and gas industry contractor Saipem said a drilling rig collapsed in the shallow waters off the coast of Angola and the Democratic Republic of Congo. Saipem, a subsidiary of Italian energy company Eni, said one of the three legs of its Perro Negro 6 drilling rig collapsed while operating near the mouth of the Congo River between DRC and Angola, UPI reported.

SAO TOMÉ

Construction of a deep water port in Sao Tome and Principe is attracting interest from Angolan investors after Brazilian company AGN also showed interest.

BRAZIL WEEKLY

Check out our sister publication Brazil Weekly, with editions appearing every Friday!

THE RISE OF THE PACS

Meet three booming Portuguese-speaking African Countries.

maputobridge

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.

OPINION

A reaction to a recent piece in The Economist: Can Brazil Conquer Africa’s Booming Markets?

SPLIT SECOND POLL

Mozambique Business News

In Mozambique on July 4, 2013 at 9:06 am

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NEWS

Mozambique opposition party Renamo, suspected of killing two civilians last week in a nascent guerrilla campaign, said it regretted disruption of the economy and called for more dialogue with the government, Reuters reported.

Mozambique’s former rebel commander said Wednesday he was prepared to leave his bush camp for talks with the government after strained relations boiled over into deadly violence this year, Foxnews reported.

Goncalo Teles Gomes, the Portuguese consul in Maputo, the capital, estimates that 30,000 Portuguese now live in Mozambique, the majority of them in Maputo.

BEST MOZAMBIQUE MUSIC & BOOKS

cantora

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BUSINESS

Eaglestone NV intends to invest as much as 40 percent of a planned 100-million euro renewable energy fund in projects in Angola and Mozambique, using local knowledge to tap new markets. Mozambique is studying two possible wind energy projects now, while Angola may develop as much as 200 megawatts each of wind and solar power by 2017 as part of an “ambitious” plan to increase the country’s total generation capacity to at least 6.2 gigawatts from 1.2 gigawatts now, Bloomberg reported.

A Mozambique/India business forum is being held this Thursday and Friday in Maputo, part of a working visit to Mozambique by Indian Foreign Minister Preneet Kaur, the Mozambican Investment Promotion Centre has announced. The Indian delegation is looking at investment opportunities in various economic sectors, especially agriculture, construction, water resources, energy and technologies. Indian companies are interested in exploiting the potential of Mozambique’s expanding energy sector, mainly coal and natural gas, where India already marks some presence.

AGRI ETC

Branded the ‘cassava revolution,’ private firms in Mozambique have in recent years attempted to rapidly commercialize the production of cassava, the country’s key subsistence crop. The idea is to create more efficient supply chains for small and medium-size producers in order to feed growing private demand for cassava in products such as beer, processed food and ethanol.

AVIATION

Mozambican flag carrier Linhas Aéreas de Moçambique (LAM) is looking for an international partner with which to create a separate intercontinental airline, says the state-owned company’s chief executive Marlene Manave. Owned by the government, apart from a 4 percent shareholding distributed among its 700 staff members, LAM operates flights to 10 domestic and five regional destinations. It has plans for routes to the Seychelles and Ethiopia (The Africa Report).

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INFRA

A new railway bridge on the Goba line over the Umbeluzi River is due to be built near the current bridge, which is considered to be unsafe, said the Engineering Department of Mozambican state port and rail manager Portos e Caminhos de Ferro de Moçambique (CFM).

PROJECT OF THE WEEK

nacalaap

Render of the future international airport of Nacala. Construction will mainly be funded by a loan of US$80 million from Brazilian development bank, Banco Nacional de Desenvolvimento Economic e Social (BNDES). The loan is part of a US$300 million credit line opened up by the Brazilian government to support projects in Mozambique. Construction work at the airport, which is the responsibility of Brazilian group Odebrecht, will provide the facility with initial capacity to receive 500,000 passengers per year, which will later be increased to 1 million people.

MINING

Auroch Minerals of Australia, which owns the Manica prospect once held by Pan African Resources in Mozambique, has completed a scoping study into developing a gold mine there at a cost of $31m. The mine will be a 40,000oz a year mine focusing on the oxidised and transitional material that can be extracted. The remaining ore is refractory ore, which means the gold is locked up in sulphides and involves a more complex and costly process to extract it. The project is expected to move into construction in June next year, starting production at the end of the first quarter of 2015 (BusinessDay).

Australian company Queensland Bauxite plans to acquire stakes in two coal prospecting licenses in Mozambique, near the currently operational mines owned by Brazil’s Vale and Australia’s Rio Tinto, international press reported. The company has reached an agreement with unlisted Australian company Regius Coal Mining to buy an initial stake of 35 percent in subsidiary Regius Coal SPV, which owned the two licenses, for US$750,000. Eighteen months after closing the deal Queensland Bauxite will be able to buy a further 16 percent of Regius Coal SPV for an additional sum of US$1.2 million.

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OIL & GAS

U.S. President Barack Obama announced a $7 billion initiative over five years to double access to power in sub-Saharan Africa. The United States will initially work with Ethiopia, Ghana, Kenya, Liberia, Nigeria and Tanzania to develop electric power generation, officials said. It will also cooperate with Uganda and Mozambique on oil and gas management, Reuters reported.

Two test wells will be drilled in the next few months in the Búzi block in Mozambique’s Sofala province, to evaluate the commercial potential of the natural gas reserves in the block, Mozambican state oil and gas company Empresa Nacional de Hidrocarbonetos (ENH) chairman Nélson Ocuane announced.