News from Cape Verde, Angola & Mozambique

Archive for March, 2014|Monthly archive page

Cabo Verde Business News

In Cabo Verde on March 19, 2014 at 9:46 pm

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NEWS

The Cape Verdean government and the Japanese International Cooperation Agency (JICA) have reached an agreement on a loan to finance the Water Supply System development project on the island of Santiago to the tune of more than 12 billion escudos (A Semana).

WHAT IS THE BEST RESTAURANT OF CAPE VERDE 2013?

Check out the results of Atlantico Weekly’s poll on the Best Restaurant of Cape Verde in 2013.

– 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

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

Portugal will provide support to Cabo Verde (Cape Verde) in the process of extending its continental platform, a project that the archipelago’s authorities will have to present to the United Nations by the end of the year, the Portuguese Agriculture Minister said, local press reported.

Cape Verde and Praia now have a modern, extensive port, which is expected to have a direct impact on the economy on the order of 500 million escudos. By 2025, however, the port is predicted to see revenues of more than seven billion escudos per year (A Semana).

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!

PROJECT OF THE WEEK

edenpark

Render of the project of the regeneration of the Eden Park Cinema in Mindelo, São Vicente Island.

BEST 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, Cape Verde and Mozambican 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 aboutthese countries. You order straight with Amazon, one of the best online stores in the world. Enjoy!

FOGO

Prime Minister José Maria Neves presided over the inauguration of expansion and modernization work for Vale dos Cavaleiros sea port, on the Island of Fogo. Neves, who called the work an important step toward developing inter-island maritime transportation, said that “the port will increase the economic competitiveness of the island of Fogo (A Semana reported).”

Angola Business News

In Angola on March 19, 2014 at 9:46 pm

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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!

– 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

ROTTERDAM WEEK

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ROTTERDAM WEEK

Brains & Brawn from a Virtual City State!

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Political Risks & Business Opportunities

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BUSINESS

Vidrul SA, an Angolan glass bottlemaker controlled by Castel Group Ltd., may double revenue this year as beverage companies from China, Lebanon and South Africa start local factories to avoid customs tariffs (Reuters).

Standard Bank Group broke even in Angola last August after a law requiring oil companies to use local banks boosted revenue, assets and credit at the unit of Africa’s biggest lender. Revenue rose 80% to $75m last year from 2012, while assets increased 150% to $1.7bn, BusinessDay reported.

INFRA

The Angolan government plans to spend US$18 billion by 2017 on construction and reconstruction of the country’s electric power system, says Inglês Pinto, director of studies and planning for the utility Empresa Nacional de Electricidade (ENE). Pinto said the aforementioned amount to be spent by 2017 encompasses all electricity systems, including production, transmission and distribution, local press reported.

Sonamet, a Sonangol affiliate company which builds metal structures for oil prospecting, plans to invest 56.1 million dollars to build a new quay at its complex in Lobito in Benguela province, local press reported.

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OTHER NEWS

Positive news about Brazil’s economy is hard to find these days. In fact the bad news is piling up. A recent report by the Financial Times of London, quoting Brazil Central bank figures, suggests the country has entered technical recession more than 7 months ago by shrinking slightly for two consecutive quarters in 2013. So how serious should you take these reports and what can you do to protect your business in Brazil? Check out the column at Rotterdam Week.

dacampaign

Will the DA break through? South Africa’s Democratic Alliance and the 2014 elections (Rotterdam Week).

Julius Malema’s Economic Freedom Fighters have arrived. Will they succeed in capturing voters? Who will benefit from them? Check it out at Rotterdam Week.

Mozambique Business News

In Mozambique on March 19, 2014 at 9:45 pm

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NEWS

The Mozambican stock exchange (BVM – Bolsa de Valores de Moçambique) plans to launch a technological platform called Central de Valores Mobiliários (CVM) to dematerialise securities, announced the head of BVM, Anabela Chambuca.

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MEET OUR CONSULTANCY

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

Atlantico Business Development

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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

Mozambique’s overall budget deficit is projected to widen to 9.5 percent this year from 3 percent in 2013, the International Monetary Fund said, as the country continues its spending-driven quest for economic growth (Reuters).

OIL & GAS

The first phase of the project to build the Pemba logistics hub, in Mozambique’s Cabo Delgado province, which is expected to cost US$150 million, has secured funding, local press reported.

Natural gas reserves in the Area 1 bloc of northern Mozambique’s Rovuma Basin
have been revised upward to between 45 billion and 70 billion cubic feet, local press reported.

ENERGY

The future ACWA Power Moatize Termoeléctrica (APMT) thermo-electric power station, in Mozambique’s Tete province, will be one of the biggest investments in Mozambique’s history, as well as being the first in a wave of new coal-fired power plants. ACWA Power Moatize Termoeléctrica is a consortium made up of Brazil’s Vale, Japan’s Mitsui, ACWA Power of Saudi Arabia, as well as domestic shareholders Electricidade de Moçambique (5 percent) and Whatana (8 percent), an investment company headed up by Graça Machel, the widow of both Mozambique’s first president Samora Machel and of South Africa’s Nelson Mandela.

INTERCULTURAL COMMUNICATION?

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Or should you just be yourself? Read the column at Rotterdam Week.

BRAZIL WEEKLY

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

OPINION

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

SPLIT SECOND POLLS

Cabo Verde Business News

In Cabo Verde on March 6, 2014 at 7:08 pm

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MEET OUR CONSULTANCY

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

Atlantico Business Development

  • business diplomacy
  • economic intelligence
  • political risk assessment
  • market scans

more here.

WHAT IS THE BEST RESTAURANT OF CAPE VERDE 2013?

Check out the results of Atlantico Weekly’s poll on the Best Restaurant of Cape Verde in 2013.

– 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

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 Bank of Cape Verde has just reduced the reference interest rate from 5.75% to 4.25%. The new rate, which went into effect as of Saturday, March 1, is aimed essentially at stimulating economic activity and investment project financing. The market now must wait and see if the country’s commercial banks will follow the lead and lower their interest rates – among the highest in the world for all types of bank loans (A Semana).

The government has just published the Fishing Policy Charter, an extensive document that outlines strategies for the 2013-2020 horizon and calls for the sustainable and integrated development of the sector within the framework of the Sea Cluster. The Fishing Policy Charter will also feature a plan of action that must be approved by the Council of Ministers within 90 days after the resolution regarding the charter goes into effect (A Semana).

The Operational Information Society Nucleus (NOSi) is now a public business entity, as per Law-Decree nº 13/2014, which also approves the new public company’s statutes. The government argues that NOSi requires the conditions needed for its management system and civil society to be able to continue to materialize Cape Verde’s Strategic Information Society Program and Electronic Governance Action Plan (A Semana).

Work to expand the port of Praia is due to be officially inaugurated in March, during an official visit by the Portuguese Minister for Agriculture and the Sea to the archipelago. Portuguese construction consortium Somague/MSF/Etermar carried out the second phase of work to expand and modernise the port of Praia.

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!

AVIATION

Equatorial Guinean airline Ceiba Intercontinental intends to operate a flight departing from that country’s capital, Malabo, to Praia, with a stopover in São Tomé and Príncipe, A Semana reported.

The number of passengers transported by TACV Cabo Verde Airlines between Portugal and Cape Verde was 29% higher than projected in its 2013 budget, according to the company’s delegate for Portugal and Spain, Mário Almeida. The figures prove that the market has grown, A Semana reported.

SPLIT SECOND POLL

BEST 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, Cape Verde and Mozambican 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 aboutthese countries. You order straight with Amazon, one of the best online stores in the world. Enjoy!

Angola Business News

In Angola on March 6, 2014 at 7:08 pm

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!

NEWS

An oil tanker hijacked for a week off Angola in January has been returned to the country’s authorities, a board member at state oil firm Sonangol said, adding that the hijackers had stolen diesel worth $8 million from the ship. The Liberian-flagged MT Kerala was under a time charter contract for Sonangol when it vanished off the coast of the capital Luanda on Jan. 18 before being intercepted by the Nigerian navy a week later (Reuters).

– 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

Mozambique is the sub-Saharan African country that is expected to see the biggest growth in the next decade, according to Business Monitor International in its report on “African Lions” which also includes Angola in the list of the ten most promising countries.

ROTTERDAM WEEK

terminal

Check out our new Publication

ROTTERDAM WEEK

Brains & Brawn from a Virtual City State!

Un-Dutch Reporting

on

Political Risks & Business Opportunities

in the Americas, Europe & Southern Africa!

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.

BUSINESS

Russia’s second-largest bank VTB and state conglomerate Rostec will buy a stake of around 20 percent in Angolan bank Banco Privado Atlantico, VTB said. In a statement, VTB said that under the agreement, VTB’s subsidiary in Angola, Banco VTB Africa, will merge with Banco Privado Atlantico (BPA), which is Angola’s sixth-largest bank (Reuters).

Angolan bank Banco BIC Angola is due to open its representative office in Johannesburg, South Africa, which is another step in the bank’s internationalisation process, which began in Portugal in 2008, local press reported.

INFRA

A housing shortage near Chevron Corp.’s residential compound in Cabinda province of Angola, Africa’s second-largest crude oil producer, is driving a construction boom as more than a decade of peace following a civil war lessens the need for fortified dwellings (Bloomberg).

Angola Telecom, the African country’s state-run phone company, is on track to make a profit for the first time in eight years after receiving a $314 million government bailout to fund debt payments and boost sales (Bloomberg).

OIL & GAS

A compressor leak at Angola’s new liquefied natural gas (LNG) export plant has delayed loading programmes and reduced output at the $10 billion project, which is due to shut for two months from July, Reuters reported.

Angola is expected to produce 2 million barrels of oil per day in 2015 despite the drop in production seen in 2013, the chairman of Angolan state oil company, Sonangol said.

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MEET OUR CONSULTANCY

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

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more here.

OTHER NEWS

Positive news about Brazil’s economy is hard to find these days. In fact the bad news is piling up. A recent report by the Financial Times of London, quoting Brazil Central bank figures, suggests the country has entered technical recession more than 7 months ago by shrinking slightly for two consecutive quarters in 2013. So how serious should you take these reports and what can you do to protect your business in Brazil? Check out the column at Rotterdam Week.

dacampaign

Will the DA break through? South Africa’s Democratic Alliance and the 2014 elections (Rotterdam Week).

Julius Malema’s Economic Freedom Fighters have arrived. Will they succeed in capturing voters? Who will benefit from them? Check it out at Rotterdam Week.

Mozambique Business News

In Mozambique on March 6, 2014 at 7:07 pm

ADVERTISEMENT

NEWS

Mozambique’s ruling Frelimo party picked Defence Minister Filipe Nyusi, a close ally of current two-term President Armando Guebuza, to be its candidate for an election in October that will choose the country’s next leader. Frelimo’s Central Committee voted by a two-thirds margin for Nyusi, 56, after an internal debate in which Guebuza loyalists beat off a challenge from a rival group backing former Prime Minister Luisa Diogo to be the candidate (Reuters).

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

  • business diplomacy
  • economic intelligence
  • political risk assessment
  • market scans

more here.

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 French government plans to provide US$44 million towards modernisation of the apron area of Maputo International Airport in Mozambique, as part of an agreement signed Monday in Maputo, local press reported.

Mozambique’s budget deficit is expected to reach 101 percent this year and the economy is expected to post growth of 6.9 percent, less than the initial estimate of 8.1 percent, the Business Monitor International (BMI) consultancy said.

South Africa, China and Portugal were the countries who companies made the most new investments in Mozambique in 2013, according to figures from the country’s Investment Promotion Centre (CPI), which approved 418 foreign investment projects worth US$1.363 million.

OIL & GAS

Galp Energia SGPS SA, Portugal’s biggest oil company, raised its investment forecast as exploration and production in Brazil and Mozambique expand (Bloomberg).

ONGC Videsh Ltd, a subsidiary of Indian group ONGC for international business, plans to invest a further US$3 billion in natural gas exploration in the Area 1 block in Mozambique, Indian press reported.

PROJECT OF THE WEEK

inpmoz

Render of the new offices of the National Petroleum Institute (INP) for Maputo.

INTERCULTURAL COMMUNICATION?

avatar

Or should you just be yourself? Read the column at Rotterdam Week.

BRAZIL WEEKLY

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

OPINION

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

SPLIT SECOND POLLS