News from Cape Verde, Angola & Mozambique

Archive for the ‘Angola’ Category

Angola Business News

In Angola on April 3, 2014 at 11:29 am

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NEWS

SBM Offshore presented today the findings of its internal investigation, which it started in the first quarter of 2012, in reaction to allegations of bribery in Brazil, Angola and other countries (Rotterdam Week).

Angola could ease inequality by diverting 10 percent of petroleum revenue to the poor, the World Bank said. Payments would amount to $326 per person a year for those living on less than $1.25 a day, Francisco Ferreira, the Washington-based lender’s chief economist for Africa, said in a March 21 presentation to the Catholic University of Angola in Luanda, the capital. The concept hasn’t been discussed with the government, Ferreira said in an interview afterward (Bloomberg).

– 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

Economic growth in Angola will slow in 2017 as oil output declines, the International Monetary Fund said. The southwest African country’s $122 billion economy is forecast to expand by 5.3 percent this year, and by 5.5 percent and 5.9 percent in the following two years before the rate slows to 3.3 percent in 2017, IMF data shows. Crude oil production will decline to 1.77 million barrels a day from 1.9 million in 2016, according to the Washington-based lender (Bloomberg).

Angola plans to take advantage of the interest it has attracted from international financial investors to net up to US$2.6 billion, which it plans to use to build infrastructure, according to the Economist Intelligence Unit (EIU). In its latest report on Angola, the EIU said there was “interest from investors in increasing their exposure to Angolan debt,” in a scenario that allows “the Angolan government to capitalize on a favourable macroeconomic climate,” after delayed payments accumulated in 2008 and 2009 have been practically paid off.

Angola’s central bank has left its benchmark interest rate unchanged at 9.25 percent on Monday after a meeting of its monetary policy committee. The committee last changed the lending rate in November, when it cut it from 9.75 percent, Reuters reported.

Planned tax changes in Angola are hindered by inaccurate budget targets and perceptions the measures will hurt the economy, the Christian Michelsen Institute said. The country has yet to approve three new tax codes first submitted to the government in 2011. President Jose Eduardo dos Santos in October cut an estimate of last year’s economic expansion to 5.1 percent from 7.1 percent, while the 2012 budget projecting a 12.8 percent increase to the $114 billion economy was later lowered to 7.1 percent (Bloomberg).

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BUSINESS

The opening of the first Continente hypermarket in Angola still has no scheduled date, said Paulo Azevedo, the chief executive of Portuguese group Sonae, “due to delays in the real estate component,” of the project.

The Sky Gallery, the new luxury shopping centre under construction in Luanda, is scheduled to start operating in June. It will offer customers goods from prestigious brands that will be on sale in Angola for the first time, Angolan newspaper Expansão reported.

Rental prices on commercial properties in Luanda currently cost between US$60 and US$130 per square metre, according to a study published recently by the Abacus consultancy in partnership with Jones Lang LaSalle.

MINING

De Beers, the world’s largest diamond miner by market value, hopes to obtain a concession to explore in Angola by the end of this year, chief executive Philippe Mellier said. The London-based company, majority-owned by global miner Anglo American, is also holding initial talks with India about exploring in some areas in the centre-north of the country (Reuters).

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OIL & GAS

Angolan oil exports fell by 8.5 percent year-on-year in January to 49.2 million barrels, which is the lowest monthly amount since 2011, local press reported.

OTHER NEWS

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Angola Business News

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

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– INTERVIEW –

ANGOLA BEYOND OIL & GAS

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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

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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.

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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.

Angola Business News

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

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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.

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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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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.

Angola Business News

In Angola on February 20, 2014 at 4:57 pm

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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

ECONOMY

Standard and Poor’s Ratings Services affirmed Angola’s long and short-term foreign and local currency sovereign credit ratings at BB-/B, with a stable outlook.

The Angola/US Chamber of Commerce plans to promote further a credit line of US$122.6 million opened up in 2009 by the United States Export Import Bank (ExIm Bank) that has yet to be used, the chamber’s chief executive said.

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BUSINESS

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).

INFRA

Abengoa completed construction of a water plant and 100 kilometers (62 miles) of pipeline to bring drinking supplies to 250,000 people in southern Angola. The project to supply potable water from Xangongo to Ondjiva in Cunene province will transport River Cunene waters to the plant. No terms were disclosed (Bloomberg).

Luanda’s new international airport, which is under construction in the Bom Jesus area of the Angolan municipalities of Icolo and Bengo, is expected to start operating within two years, Angola’s Construction Minister, Waldemar Pires said.

OIL & GAS

BP declared force majeure on exports of Angolan Plutonio crude after a Marlin fish damaged a hose connected to the floating, production, storage and offloading facility, according to a company official. The FPSO is not completely shut down and is producing at a reduced rate, Bloomberg reported.

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!

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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.

Angola Business News

In Angola on February 13, 2014 at 3:49 pm

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NEWS

Alex Thomson-Payan arrived in Angola in 2007 armed with a business degree from Babson College in Boston and $200,000 raised from Swiss and American friends. Today the 29-year-old runs Thomson Group International, which earns monthly revenue of more than $2m selling cellphones and supplying oil explorers with services. On top of a schedule from dawn to late into the night, he hosts parties at a beachfront house and collects motorcycles (BusinessDay).

An Angolan radio journalist has been convicted for defamation after allegedly inquiring about screams coming from prisoners inside a police station, his lawyer said (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

Angola plans to sell two 20-year bonds to raise 58.7 billion kwanza ($601 million) to strengthen the central bank and a state-owned lender, according to presidential decrees (Bloomberg).

Portugal’s balance of trade surplus with Angola fell by 60 percent in 2013 to 480 million euros, a year after posting a surplus of 1.209 billion euros, according to official figures, local press reported.

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BUSINESS

Angolan bio-energy company Companhia de Bioenergia de Angola (Biocom) is expected to produce 256,000 tons of sugar and 30 million litres of ethanol per year as well as 28 megawatt hours of electricity in 2018/2019, local press reported.

Angolan businessman António Mosquito has become the chairman of Portuguese construction company Soares da Costa Construção, SGPS after taking a majority stake, local press reported.

Angolan company Brigada de Construção Militar (Bricomil) is due to be sold directly or through a limited rather than a public tender, local press reported. Citing a source close to the process, the newspaper said that employees would keep 13 percent of the company’s shares and that 75 percent would be sold to a private company.

INFRA

Zambia’s Northwest Rail Company Ltd. has signed an agreement with South African transportation company Grindrod Ltd. to build a railway connecting mines owned by Canada’s Barrick Gold Corp. BX) and First Quantum Minerals Ltd. (FM). Work on the $989 million project, which will also connect mines in Africa’s biggest copper producer to the Angolan border, should start this year, Grindrod said (Bloomberg).

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!

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MINING

The Angolan diamond sector in December 2013 produced over 742,000 carats of diamonds, the Angolan Geology and Mining Minister said, local press reported.

OIL & GAS

Late last week Dutch media began reporting on alleged corruption practices involving SBM Offshore deals in Brazil, Angola, Equatorial Guinea and other countries. The info was apparently published by a former employee of the company on the SBM Offshore company profile page on Wikipedia. On Friday February 7th, the company issued the following statement (Rotterdam Week).

Royal Boskalis Westminster N.V. (Boskalis) subsidiary SMIT Salvage has been awarded a contract to remove a damaged jack-up platform from the seabed offshore Angola. Including the award of this contract, SMIT Salvage has acquired approximately USD 70 million of work year to date (Rotterdam Week).

Total SA, Europe’s third-largest oil company, sold a stake in an Eni SpA-operated offshore Angolan oilfield to Sonangol EP for $750 million (Bloomberg).

Angola Business News

In Angola on January 30, 2014 at 9:01 am

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NEWS

The Greek owners of an oil tanker that vanished off the Angolan coast on Jan. 18 said on Sunday that pirates had hijacked the vessel and stolen a large quantity of cargo, contradicting the Angolan navy’s denial that such an assault took place (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

Angola and Mozambique are two of the countries in sub-Saharan Africa that are expected to see the biggest rates of growth in 2014 and over the next few years, according to the World Bank in its Global Economic Outlook report. The World bank also warned for risks in the emerging markets (Rotterdam Week).

Angola’s central bank said on Tuesday it was leaving its benchmark interest rate unchanged at 9.25 percent, after a meeting of its monetary policy committee. The committee last changed the lending rate in November, when it cut it from 9.75 percent, Reuters reported.

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BUSINESS

Japan’s Marubeni Corp is preparing to launch a large sugar cane production project for industrial use this year in Angola, in Cunene province. local press reported.

INFRA

Soyo municipal airport, in Angola’s Zaire province, in 2013 received 18,508 flights, the director of air navigation company Empresa Nacional de Navegação Aérea (Enana) said. Speaking to Angolan news agency Angop, Lucamba said that compared to 2012 there had been nine more flights per day in 2013.

BEST MUSIC & BOOKS

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MINING

Angola’s diamond cutting factory is potentially due to start operating in March in order to make use of the entire diamond value chain, Angola’s Minister for Geology and Mining, Francisco Queiroz said to the local press.

OIL & GAS

US oil company Cobalt International Energy has found more oil in Angola’s block 21 where it is prospecting in partnership with Angola’s Sonangol and other companies, the company said.

Sonangol EP, Angola’s state-owned oil company, is offering exploration licenses for 10 onshore areas that may offer more crude than previously thought, according to a surveying company that has assessed the deposits (Bloomberg).

Angola Business News

In Angola on January 23, 2014 at 5:22 pm

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NEWS

A fuel tanker is suspected to have been hijacked by pirates off the coast of Angola, the ship’s owners said, in what would be the most southerly attack to date by pirates off West Africa. Pirate attacks jumped by a third last year off the coast of West Africa but were mostly confined to the Gulf of Guinea, around Africa’s biggest oil producer Nigeria, where most of the hijacking gangs are believed to originate (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

In 2013 the Angolan government invested US$2 billion in the modernisation and expansion of the port of Lobito, local press reported. The funding built an ore terminal and a container terminals as well as a dry dock.

Angola and Mozambique are two of the countries in sub-Saharan Africa that are expected to see the biggest rates of growth in 2014 and over the next few years, according to the World Bank in its Global Economic Outlook report. The World bank also warned for risks in the emerging markets (Rotterdam Week).

The office for economic and financial studies of Portuguese bank BPI has lowered its forecast for growth of the Angolan economy in 2013 by 0.7 percentage points and now estimates gross domestic product (GDP) growth of 4.5 percent for the year.

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BUSINESS

Standard Chartered has opened a corporate bank in Angola, the London-listed group said on Monday, underscoring growing interest in Africa’s biggest oil producing country after Nigeria. Angola has seen rapid economic growth since the end of a civil war in 2002, helping attract foreign banks such as Africa’s top lender Standard Bank, Russia’s No.2 bank VTB and Portugal’s Banco BPI (Reuters).

Angolan bank Banco Angolano de Investimentos (BAI) was rated “B1” by Moody’s, making it the first Angolan bank to be rated by a credit rating agency. As well as the B1 rating, which indicates the risk associated to any debt issued by the bank as “highly speculative”, BAI’s deposits were also rated “Ba3/Not-Prime”.

U.S. buyout firm Carlyle Group and the assset management unit of South Africa’s Investec have made a private equity investment in Mozambique-based transport firm J&J Africa, Reuters reported. J&J Africa is a transport company that also provides warehouses for bulk and container cargo.

The Angolan government plans to sign double taxation agreements with countries with which it has special economic or political relations, as part of reforms underway in the tax and public finance sector, Angolan news agency Angop reported.

Angola’s National Agency for Private Investment (ANIP) signed 23 contracts in Luanda worth US$290 million with Angolan and foreign companies. Most of the 23 investment projects are linked to the services, construction, industry and retail sectors.

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!

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OIL & GAS

Angola will ship in March 45.9 million barrels, or 1.48 million barrels a day, down from 1.65 million barrels a day in February, a preliminary loading program obtained by Bloomberg shows. That’s the lowest since June 2011. Both months’ cargo tallies are 48. There are no planned shipments from Plutonio, compared with 4 million barrels for February, the data show. The stoppage is because of maintenance, according to two people familiar with the situation, who asked not to be identified because the information is private.

 

Angola Business News

In Angola on January 16, 2014 at 2:46 pm

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NEWS

Huambo is emerging from the ruins left by a 27-year civil war in Angola, Africa’s second-biggest oil producer, by using a new power plant, a location on the transnational Benguela railway and a temperate climate to lure investors. Angola’s second-largest city, located on the central plateau about 600 kilometers (373 miles) southeast of the capital, Luanda, is linked to the Atlantic ocean port of Lobito and neighboring Democratic Republic of Congo and Zambia by the 1,344-kilometer Benguela railway that China has rebuilt. It’s receiving fresh supplies of power from the 60-megawatt Gove hydroelectric dam that was completed in August (Bloomberg).

Over 100 railway stations were inaugurated in Angola in 2013 by the Transport Ministry as part of a government project to rebuild the country’s rail network, local press reported.

– 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 and Mozambique are two of the countries in sub-Saharan Africa that are expected to see the biggest rates of growth in 2014 and over the next few years, according to the World Bank in its Global Economic Outlook report. The World bank also warned for risks in the emerging markets (Rotterdam Week).

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BUSINESS

Russian group Kamaz plans in 2016 to start building a heavy vehicles factory in Angola in order to sell the vehicles in Southern Africa, local press reported. Construction of the factory would take three years and the Kamaz group would invest US$20 million in the project.

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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MINING

Lonrho Mining Ltd has found a large high quality white diamond totalling 131.5 carats (26.3 grams) at its concession in Lulo, Angola.The diamond is 5 centimetres long and was found with other diamonds, one of which was 38.3 carats and another of 8.7 carats, local press reported.

OIL & GAS

Angola plans to export 48 tankers of crude oil in February, the same amount as in January or a total of 46 million barrels, according to the final loading schedule, cited by financial news agency Bloomberg.

Sonangol plans to launch tenders to grant licenses for onshore oil wells in the basins of the Kwanza and Congo rivers, the company said in a statement issued Luanda. According to the statement all national and international oil companies as well as other interested companies can compete for three blocks in the Congo basin and eight blocks in the Kwanza basin.

OTHER AFRICA

dacampaign

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

A Letter from Tangier. Understanding Morroco’s Atlantic position (Rotterdam Week).

Royal HaskoningDHV achieves Level 2 Black Economic-Empowerment status in South Africa (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.

Angola Business News

In Angola on December 12, 2013 at 1:36 pm

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NEWS

Angola said it had refused registration to a number of Islamic religious groups and closed illegal mosques because they did not comply with national laws, but it denied any persecution of Muslims. The government of the No.2 oil producer in Africa has faced a storm of criticism after some international media reported it had “banned Islam”, causing embarrassment for this member of the OPEC oil cartel dominated by Muslim states (Reuters).

Angola denied a report by Portuguese state TV that President Jose Eduardo dos Santos was undergoing cancer treatment, saying the long-serving 71-year-old was in good health (Reuters).

Angola’s largest opposition party criticized the National Assembly’s first ever approval of state accounts after fewer than half of government units formally reported their spending (Bloomberg).

– 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 growing middle class will help expand the banking, retail and communications industries in Africa’s second-largest oil producer, according to Eaglestone Securities BV. The economy will grow by 5 percent to 7 percent this year and next, led by an 8.3 percent increase in non-oil sectors, Tiago Dionisio, a Lisbon-based analyst at Eaglestone, wrote. Oil’s contribution to gross domestic product fell to 46 percent from 56 percent in 2002, he said (Bloomberg).

The number of millionaires in Angola rose by 68 percent from 2007 to 2013 and now totals 6,400, indicate figures from the New World Wealth consultancy, local press reported.

Guinea-Bissau is last on the list of the 145 best and worst countries for doing business drawn up by the American magazine Forbes, while Angola also ranks among the bottom five.

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BUSINESS

Spar Group Ltd. (SPP), a South African food and liquor retailer, will open its first store in Angola on Dec. 10, working with a local partner, Finance Director Mark Godfrey said (Bloomberg).

BEST ANGOLA MUSIC & BOOKS

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PROJECT OF THE WEEK

1_Cidade_Financeira

Render of the Financial City or Cidade Financeira project for Luanda, currently under construction.

OIL & GAS

Oil drillers hoping pre-salt discoveries in west African waters may match the prolific finds beneath similar deposits off Brazil got a lift from the drilling results of the Lontra 1 well offshore Angola. Cobalt International Energy said the drill stem test results were “exceptional, with excellent quality reservoirs that are better than we had expected” (Reuters).

Angola’s implementation of a 10 percent tax on some oil services, which passed into law two months ago, has left companies unsure how they can recoup expenses, a lawyer said (Bloomberg).

Sonangol EP, Angola’s state-owned oil company, will explore five onshore blocks and tender them for development if successful, according to a decree by President Jose Eduardo dos Santos (Bloomberg).

OTHER AFRICA

dacampaign

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

A Letter from Tangier. Understanding Morroco’s Atlantic position (Rotterdam Week).

Royal HaskoningDHV achieves Level 2 Black Economic-Empowerment status in South Africa (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.

Angola Business News

In Angola on November 28, 2013 at 5:03 pm

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NEWS

Angola’s main opposition parties said they would step up street protests that have already left at least one person dead as it was the only way to shake President Jose Eduardo dos Santos’ tight grip on Africa’s No.2 oil producer. Speaking three days after some of the biggest demonstrations since the end of a civil war in 2002, the parties’ leaders said they had little room for manoeuvre in a highly centralised system in which parliament has been rendered toothless (Reuters).

Angolan security forces shot and killed an opposition activist on Saturday, hours ahead of protests across the country where police detained 292 people. The killing comes after a tense week during which President Jose Eduardo dos Santos’ MPLA party accused the main opposition party UNITA of promoting “chaos” with its protests against the kidnap and possible murder of two activists in May 2012 (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

Angola may as early as today announce that it’s cutting corporate tax to 30 percent from 35 percent to make the country a more attractive destination for investment. The new tax level is a compromise between the government’s desire to raise revenue and requests by the Association of Angolan Industry for a cut to 25 percent, Bloomberg reported.

The central bank of Angola cut its benchmark interest rate by the most on record after inflation slowed to the lowest level in at least two years. The key lending rate was reduced by 50 basis points, or 0.5 percentage point, to 9.25 percent, Bloomberg reported.

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BUSINESS

Angolan businessman António Mosquito plans to take a 27.5 percent stake in Portuguese media group Controlinveste, which owns the Diário de Notícias, Jornal de Notícias and O Jogo newspapers as well as the TSF radio station, according to the Portuguese press. António Mosquito is also set to own 66.7 percent of Portuguese construction company Soares da Costa Construções under the terms of an agreement reached with Manuel Fino, the businessman who currently owns 100 percent of the company.

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

muxima

Render of the Muxima Plaza twin tower project for Luanda.

OIL & GAS

France’s Total will strengthen its position as top crude operator in Angola by starting production from a new project in the second quarter of 2014, that will raise output by 160,000 barrels per day, according to its country director. Jean-Michel Lavergne said the $8 billion CLOV project, named after the Carnation, Lily, Orchid and Violet fields, would add to a combined output of 600,000 barrels per day from its Girassol, Dalia and Pazflor deepwater fields in the huge Block 17 that Total operates in Africa’s No. 2 oil producer (Reuters).

OTHER AFRICA

dacampaign

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

A Letter from Tangier. Understanding Morroco’s Atlantic position (Rotterdam Week).

Royal HaskoningDHV achieves Level 2 Black Economic-Empowerment status in South Africa (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.

The IMF has urged South Africa to reform its economy (Rotterdam Week).

Deon Meyer writes great thriller/action/crime stories set in post-apartheid South Africa, mainly in Cape Town. His realistic characters are fading police detectives, bodyguards or former hit men, each with his own problem (Rotterdam Week).

Angola Business News

In Angola on November 21, 2013 at 1:47 pm

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NEWS

Angola’s ruling MPLA party accused the main opposition group, UNITA, of seeking to cause “chaos and anarchy” by planning nationwide rallies on Saturday to protest against the kidnapping of two activists last year (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

By 2017 Angola wants to reduce its imports of goods and services, which currently cost the country US$20 billion per year, the director of the National Private Investment Agency (ANIP), Luís Domingos said in Luanda.

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BUSINESS

Groupe Saham, a Morocco-based investment company, bought GA Angola Seguros SA, Angola’s largest closely held insurance company by revenue, for an undisclosed amount, GA Chief Executive Officer Fernando Dolbeth Assuncao said (Bloomberg).

INFRA

Cabinda will have its own deep water port and construction of the facility is due to begin in the next three years, the Angolan Transport Minister said. Work to build the port will be carried out in three phases, and that at the end of the first phase the port would have a commercial dock 775 metres long, which would be increased to 1,550 metres at the end of the final phase. Current loading and unloading of container and bulk goods is carried out using the new jetty, which was inaugurated in 2012 and has improved processing of imported goods.

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

ftl

Render of the Luanda Financial Tower.

OIL & GAS

Already a rival to Nigeria for the crown of Africa’s top oil producer and a rival to Saudi Arabia as China’s biggest supplier of crude, Angola plans to auction more pre-salt acreage over the coming months. Many of the western majors, as well as oil groups from China and other emerging markets, already have Angolan assets. But they and any new entrants wanting to snap up pre-salt assets face a dilemma (FT Beyond Brics).

Angola’s oil exports rose by 1.9 percent in October against the previous month, essentially due to BP, which almost doubled its production at block 31, according to official figures from the country’s Finance Ministry. The figures, cited by financial news agency Bloomberg, showed that shipments of oil totalled 53.3 million barrels, and generated revenues of US$3.07 billion.

Onshore oil and natural gas extraction began in Angola’s Cabinda province at a block operated by Pluspetrol Angola, a subsidiary of Argentinean group Pluspetrol, Angolan news agency Angop reported.

SOUTH AFRICA

malema2

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.

The IMF has urged South Africa to reform its economy (Rotterdam Week).

Deon Meyer writes great thriller/action/crime stories set in post-apartheid South Africa, mainly in Cape Town. His realistic characters are fading police detectives, bodyguards or former hit men, each with his own problem (Rotterdam Week).

Angola Business News

In Angola on November 14, 2013 at 1:41 pm

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NEWS

President Jose Eduardo dos Santos’s reiteration of comments that he’s beginning to consider stepping down won’t affect the country’s drive for investment, analysts said. The Popular Movement for the Liberation of Angola, which has ruled the country since independence from Portugal in 1975, is considering his succession plans, the president said. Dos Santos, 71, gave no date or party timetable for selecting its next leader, or who that might be (Bloomberg).

Angola’s planned undersea cable to South America will cut data transmission times between stock markets in Brazil and Hong Kong and open a new route between Africa and the U.S., the head of state-owned Angola Cables said. France’s Alcatel-Lucent SA, Japan’s NEC Corp. and TE Connectivity Ltd. are bidding for an estimated $170 million contract to lay the 6,000-kilometer (3,730-mile) cable between Africa’s second-biggest oil producer and Brazil (Bloomberg).

– 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 appointed Deloitte LLP as the independent auditor of its $5 billion sovereign wealth fund to ensure transparency (Bloomberg).

The kwanza, Angola’s national currency, since 11 November, can be traded in both France and Portugal, local press reported.

Fitch Ratings has maintained the credit rating for Angola’s long term debt at BB- with a positive outlook and likewise maintained short term debt at B.

ROTTERDAM WEEK

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BUSINESS

Nampak Ltd., a South African packaging company, said it’s planning a $250 million drinks container plant in Angola as part of an expansion outside its domestic market (Bloomberg).

Brussels Airlines will increase from two to three the number of weekly flights between Brussels and Luanda, 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!

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OIL & GAS

OPEC, which produces about 40 percent of the world’s oil, will probably keep its crude oil output target unchanged at its next meeting, according to oil ministers from member states Iraq and Angola. Iraqi Oil Minister Abdul Kareem al-Luaibi and Angola’s Jose Maria De Vasconcelos said they don’t see the need for the Organization of Petroleum Exporting Countries to alter its collective production target of 30 million barrels a day because current oil-price levels are satisfactory (Bloomberg).

SOUTH AFRICA

malema2

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.

The IMF has urged South Africa to reform its economy (Rotterdam Week).

Deon Meyer writes great thriller/action/crime stories set in post-apartheid South Africa, mainly in Cape Town. His realistic characters are fading police detectives, bodyguards or former hit men, each with his own problem (Rotterdam Week).

Angola Business News

In Angola on November 7, 2013 at 3:51 pm

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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

ROTTERDAM WEEK

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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

The Angolan company Sociedade Mineira de Catoca (SMC) plans to begin operations
in Zimbabwe in 2014 in the Limpopo Basin and Marane regions near the Mozambican
border, local press reported.

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OIL & GAS

Angola is building the first two drilling rigs to fly the flag of state oil company Sonangol EP as the country embarks on its biggest deepwater drilling campaign. The ships are being constructed by Daewoo Shipbuilding and Marine Engineering Co. Ltd. in South Korea and will be deployed in 2016 (Bloomberg).

US group Cobalt International Energy has found natural gas and oil in Angola’s Lontra and Mavinga test wells in blocks 20 and 21 of the pre-salt layer. The group is the operator at the Lontra well (block 20), with a stake of 40 percent in the project, and its partners are Angolan state oil company Sonangol P&P and BP and Kwanza Benguela Limited, each with 30 percent, local press reported.

SOUTH AFRICA

malema2

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.

The IMF has urged South Africa to reform its economy (Rotterdam Week).

Deon Meyer writes great thriller/action/crime stories set in post-apartheid South Africa, mainly in Cape Town. His realistic characters are fading police detectives, bodyguards or former hit men, each with his own problem (Rotterdam Week).

Angola Business News

In Angola on November 2, 2013 at 7:38 pm

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NEWS

Angola is investing in improved phone and wireless networks on land, sea and in space to attract foreign investment and diversify away from oil, National. The nation’s biggest projects include a $300 million Russia-built satellite scheduled for 2017 and a $200 million sub-sea cable across the Atlantic Ocean to Brazil that will start to be laid next year. Angola also wants to add fiber optic cable to increase mobile-phone coverage to 85 percent of the population from 60 percent within two years, Bloomberg reported.

– 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 expects to post a budget deficit of nearly 5 percent next year as it spends to boost sectors outside its dominant oil industry and put two years of missed growth targets behind it, a budget bill showed (Reuters).

ROTTERDAM WEEK

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PROJECT OF THE WEEK

torremaculosse

Render of the Maculosse tower for Luanda.

BUSINESS

Angolan group Newshold has increased its stake in Portuguese media group Impresa to 3.21 percent, the group said.

Deposits in the Angolan banking system totalled 3.9 trillion kwanzas (US$40.224 billion) on 30 September, the governor of the Angolan National Bank (BNA), José de Lima Massano said

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 explorers in Angola will drill almost half of their offshore wells next year beneath a layer of salt under the seafloor, according to state energy company Sonangol EP. The explorers want to test the theory that the geology off Angola’s coast mirrors that off Brazil, where multibillion-barrel finds have been made, Bloomberg reported.

Angola LNG’s output will fall short of design capacity through 2014 after upstream problems including a rig disaster forced it to bring forward new supplies from other blocks (Reuters).

Angola has delayed bidding for new licences to explore for oil to the first quarter of 2014 and would welcome bids from Russian companies, its oil minister said (Reuters).

SOUTH AFRICA

malema2

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.

The IMF has urged South Africa to reform its economy (Rotterdam Week).

Deon Meyer writes great thriller/action/crime stories set in post-apartheid South Africa, mainly in Cape Town. His realistic characters are fading police detectives, bodyguards or former hit men, each with his own problem (Rotterdam Week).

Angola Business News

In Angola on October 24, 2013 at 6:41 pm

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NEWS

Angola may scrap a planned strategic partnership with Portugal in favour of closer ties to China and other emerging powers if Lisbon does not show greater respect for the oil-rich African nation, Angola’s foreign minister warned (Reuters).

A group of Congolese soldiers who were seized last week by Angolan troops when they entered the Congo Republic have been freed, a senior local government official in Congo said. A detachment of Angolan troops crossed into neighbouring Congo from Angola’s oil-rich enclave of Cabinda and took up positions in several locations in Congo’s Kimongo district, Congolese sources said (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

Angola’s state budget proposal for 2014 includes expenditure of 7.2 trillion kwanzas (US$74.159 billion), the country’s Finance Minister, Armando Manuel said. The minister also said that the macro-economic scenario on which the state budget is based points to Gross Domestic Product (GDP) growth of 8.8 percent, which will be driven by a high rise in non-oil production, local press reported.

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BUSINESS

Angola’s banking sector is set to post a second consecutive profit slump in 2013 hit by lower rates and surging bad loans, global audit firm KPMG said, adding that the banks must diversify their products and client base to boost income (Reuters).

Banco BIC, Angola’s biggest private bank by number of branches, could make a bid for an insurer in Portugal after buying a local lender in the southern European country last year. “In Portugal, it is possible that we’ll make an offer for a small insurance company,” CEO Fernando Teles said (BusinessDay).

MINING

Tecmad Mining Services SARL is drilling at its Camutue diamond mine in the northeast of Angola, the world’s fourth-largest diamond producer, to test the feasibility of expansion, Site Director Colyn Purdon said. The kimberlite mine at Lucapa in Lunda Norte province, 825 kilometers (513 miles) east of Luanda, the capital, produces about 12,000 carats a month from more than 50,000 cubic meters of ore, Purdon said in an interview at the mine Oct. 13. The 13-hectare (32-acre) open pit is 45 meters (148 feet) deep with initial plans to extend to 115 meters while core samples are being taken to a depth of 150 meters to determine future viability, Purdon said (Bloomberg).

Angola’s century-old diamond industry has “huge” potential for growth, but to tap it the country needs to develop transport links and services for mining companies, and make geological data more accessible, according to a new study. Angola is the world’s fourth-largest diamond producer by value, and sixth by volume, and the government is keen to boost a sector where few companies are currently drilling (BusinessDay).

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

Angolan state oil firm Sonangol plans to open its fourth international trading office in China, the country’s top crude export destination, Chief Executive Francisco Lemos Jose Maria said (Reuters).

SOUTH AFRICA

malema2

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.

The IMF has urged South Africa to reform its economy (Rotterdam Week).

Deon Meyer writes great thriller/action/crime stories set in post-apartheid South Africa, mainly in Cape Town. His realistic characters are fading police detectives, bodyguards or former hit men, each with his own problem (Rotterdam Week).

Angola Business News

In Angola on October 17, 2013 at 11:18 am

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NEWS

President Jose Eduardo Dos Santos said on Tuesday relations with Portugal were unhealthy, reflecting tensions in a planned “strategic partnership” between Africa’s number two oil producer and its former colonial ruler (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

Angola’s economy is this year expected to grow by 5.1 percent, which is less than the previous 7.1 percent forecast, President José Eduardo dos Santos said Tuesday in Luanda in his State of the Nation speech.

Railway companies from Democratic Republic of Congo and Angola will meet to discuss linkages that would allow Congo’s mine operators to ship copper to the port of Lobito in the neighboring African country. Societe Nationale des Chemins de Fer du Congo and Caminhos de Ferro de Benguela EP will decide on a technical and operational plan so that Congo can link to the newly rehabilitated Benguela line in Angola, said Patricia Nzondjou Nzeale, director of finance and investment at the state-owned company known as SNCC (Bloomberg).

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BUSINESS

Centrica Plc and world’s biggest distiller Diageo Plc are among British companies that may start operations in Angola as it seeks to rebuild and ease its dependence on oil, according to a U.K. trade mission. The U.K.’s biggest-ever business delegation to Angola visited the southwest African country, the U.K.’s third-largest export market in sub-Saharan Africa, from Oct. 7 to 10. The two countries signed an agreement in June to improve trade as Angola, which produces the most crude in Africa after Nigeria, seeks to diversify away from oil (Bloomberg).

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

Angola is imposing a consumption tax on petroleum companies that will raise some costs by as much as 10 percent, according to government documents. The law, which comes into effect with its publication that may happen as early as today, requires companies to follow a tax schedule that adds five percent to most services and supplies and double that for equipment rentals, a presidential decree showed (Bloomberg).

Angola’s new liquefied natural gas (LNG) plant exported its fifth ever cargo aboard the Soyo tanker, according to trade sources and AIS Live ship-tracking data on Reuters. The 160,000 cubic metre capacity Soyo has left the liquefaction plant after loading up its tanks with LNG and is currently travelling at a speed of 11.6 knots away form the facility, shipping data shows. Its destination is as yet unknown, and it was not immediately clear if the cargo has already been sold.

BP offered an Angolan Pazflor cargo for Nov. 4 to Nov. 5 at a discount of $2.40 a barrel to Dated Brent, the Platts survey showed. Angola crude shipments will total 53.54 million barrels, or 1.73 million barrels a day, the plan showed. That compares with 50.88 million, or 1.7 million a day, in November. Most consignments are of 950,000 to 1 million barrels (Bloomberg).

SOUTH AFRICA

malema2

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.

The IMF has urged South Africa to reform its economy (Rotterdam Week).

Deon Meyer writes great thriller/action/crime stories set in post-apartheid South Africa, mainly in Cape Town. His realistic characters are fading police detectives, bodyguards or former hit men, each with his own problem (Rotterdam Week).

Angola Business News

In Angola on October 10, 2013 at 10:23 am

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NEWS

The Angolan government has accelerated the razing of slums since the removals began in 2001, after rural people sought refuge during a 27-year civil war. It’s moving residents to the Zango development zone, constructed by Brazil’s Odebrecht SA about 40 kilometers (25 miles) inland. By doing so it’s also helping meet demand for prime real estate as the middle class in Africa’s second-largest crude oil producer expands. Mercer ranks the city as the world’s most expensive for expatriates (Bloomberg).

– 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

Namibia and Angola are facing an uphill battle regarding bottlenecks hindering smooth trade between the two neighboring countries. The Namibia Chamber of Commerce and Industry (NCCI) is highly concerned about many obstacles hampering economic co-operation between the two countries. Some of them are irreversibly in place for the benefits of one country, but at the same time negatively affecting the other (Informante).

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BUSINESS

A Belgian delegation counting more than 200 entrepreneurs arrives in Luanda later in October with the aim of furthering current business relations and to establish partnerships with public and private companies. The business mission’s programme included participation in an economic and trade forum organised by the Belgium-Luxembourg/Africa, Caribbean and Pacific Chamber, local press reported.

PROJECT OF THE WEEK

quintadarosalinda

Render of the Quinta da Rosa Linda for Luanda.

BANKING

Angolan bank Banco Sol plans to begin its internationalisation by opening branches in other Southern African Development Community (SADC) nations. Namibia and Mozambique would be the first countries the bank would move into, local press reported.

Britain’s Standard Chartered Bank has been granted a license to operate in Angola and the local bank will be called Standard Chartered Bank Angola, local press reported.

Portuguese financial group Espírito Santo plans to increase the capital of Angolan bank Banco Espírito Santo Angola (BESA) to US$500 million, the chief executive of BES, Ricardo Salgado said.

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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SOUTH AFRICA

malema2

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.

The IMF has urged South Africa to reform its economy (Rotterdam Week).

Deon Meyer writes great thriller/action/crime stories set in post-apartheid South Africa, mainly in Cape Town. His realistic characters are fading police detectives, bodyguards or former hit men, each with his own problem (Rotterdam Week).

Angola Business News

In Angola on October 3, 2013 at 10:01 am

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NEWS

The supply of drinking water to the city of Luanda is expected to increase from 433,000 cubic metres per day at the moment to 692,000 cubic metres per day by 2017, the national director for Water, Lucrécio Costa said to local press.

Angola suspended 16 prison guards and firemen for a brutal attack on inmates that was filmed on a mobile phone and circulated on the Internet (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

Angola is investing in projects ranging from ports to airports after missing its foreign investment target because spending on road and hydropower projects lagged behind what was needed to lure greater funding. The nation is expected to attract $4 billion a year in non-oil investments from abroad by 2017, failing to meet its target to register an average of $4 billion annually from 2012 to 2017, Maria Luisa Abrantes, chairwoman of the National Private Investment Agency, said to Bloomberg.

The central bank of Angola held its benchmark interest rate as inflation was little changed. The key lending rate was maintained at 9.75 percent, the Luanda-based Banco Nacional de Angola said (Bloomberg).

Political instability remains the biggest stumbling block for companies doing business in Africa, with countries such as Nigeria, the Democratic Republic of Congo and Angola seen as the most difficult countries to operate in. According to PwC’s recent survey on tax in Africa, South Africa is seen as the most difficult place from a business and regulatory perspective to operate in, with increased uncertainty in terms of tax legislation and regulatory requirements (BusinessDay).

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BUSINESS

The Portuguese government sold BPN Brasil to Angola’s Banco BIC for 12.3 million euros, local press reported.

AVIATION

Taag last week launched its second scheduled direct flight between Luanda and Beijing and is planning a third in 2014.

SPLIT SECOND POLL

OIL & GAS

The proven oil reserves of Angola are estimated at 12.667 billion barrels due to new discoveries (Xinhua).

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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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.

SOUTH AFRICA

malema2

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.

The IMF has urged South Africa to reform its economy (Rotterdam Week).

Deon Meyer writes great thriller/action/crime stories set in post-apartheid South Africa, mainly in Cape Town. His realistic characters are fading police detectives, bodyguards or former hit men, each with his own problem (Rotterdam Week).

Angola Business News

In Angola on September 26, 2013 at 9:23 am

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NEWS

Seven Angolans arrested at a demonstration against President Jose Eduardo dos Santos last week were released on bail, as human rights groups complained about assaults on protesters and journalists who cover such events (Reuters).

The 26-kilometre road linking the city of Benguela to the municipality of Baía Farta, was re-opened to traffic, as work to repair and widen it was concluded, local press reported.

– INTERVIEW –

ANGOLA BEYOND OIL & GAS

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 plans to invest $23 billion by 2017 on its electricity network to help create new sectors in the oil-producing economy can only work if its energy companies become more efficient and skilled, Reuters reported.

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SPLIT SECOND POLL

PROJECT OF THE WEEK

SAMSUNG CAMERA PICTURES

Render of the Chicala Mar complex for Luanda.

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!

ADVERTISEMENT

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

Atlantico Business Development

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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.

SOUTH AFRICA

malema2

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.

TOURISM

Angola is betting on the Roller Hockey World Cup to bolster employment and tourism. The Southern African nation has spent $89 million building three pavilions in the capital, Luanda, and in the towns of Malange and Namibe and a further $17 million for the 41st staging of the tournament that runs from today to Sept. 28. Officials say the 16-nation event, the continent’s first, will boost employment and attract interest from the country’s youth (Bloomberg).

Angola Business News

In Angola on September 19, 2013 at 9:45 am

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– INTERVIEW –

ANGOLA BEYOND OIL & GAS

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

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.

SPLIT SECOND POLL

BUSINESS

Portugal’s biggest retailer Sonae plans to open five food hypermarkets in Angola in partnership with Isabel dos Santos, the daughter of the country’s president, with the first scheduled for 2015 (Reuters).

A four-star hotel unit has been inaugurated in the city of Lubango, the capital of the Angolan province of Huíla. The hotel, which is the second four-star unit in the region, is part of the Chick-Chick hotel chain of the Chicoil group, local press reported.

The Portuguese group Sumol+Compal signed an investment contract with Angola’s National Private Investment Agency (ANIP) to build a juice, nectar and soft drink production facility, the group announced.

PROJECT OF THE WEEK

jardins

Render of the Jardins da Restinga project for Lobito.

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!

ADVERTISEMENT

MEET OUR CONSULTANCY

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

Atlantico Business Development

  • business diplomacy
  • economic intelligence
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more here.

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.

SOUTH AFRICA

malema2

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.

OIL & GAS

Angola, Africa’s second-largest oil producer, will export 56 crude cargoes in November, two more than in October, a preliminary loading program obtained by Bloomberg News showed.