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Sat,18Nov2017

Angola

Angola Country Profile 2015: The oil-barrel blues

altThe government, run by the Movimento Popular de Libertação de Angola (MPLA), is focused on dealing with lower levels of oil production and a dropping oil price.

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Zambia: Chinese firms to invest in Zambia industrial park

Chinese companies plan to establish a new industrial park on the outskirts of the Zambian capital Lusaka with an initial investment of $300 million, a visiting company executive said.

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Angola tightens foreign currency controls as oil price slides

Investors, visitors and residents of Angola may struggle to withdraw cash from their bank accounts after the government of Africa's second largest crude exporter said it would restrict foreign currency transactions.

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Angola raises $1.5 billion in debut Eurobond to fund growth

Angola has raised $1.5 billion in its debut Eurobond, a 10-year issue with a yield of 9.5 percent whose proceeds will be used for long-term economic development, the finance minister said on Thursday.

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Are you talking to me?

Photos© All rights reserved A photographer – one who found himself accidentally on purpose at the back of a room booked by South Africa's delegation at the AU's Addis Ababa headquarters in January 2012 – emerged with an instructive vignette about regional relations.

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Oil & Gas: Angola oil output to gain 30,000 bpd in Sonangol, Total deepwater project

Sonangol and a unit of France's Total will break ground on a new deepwater oil pumping project that will add over 30,000 barrels a day to Angola's oil production, the state oil company said.

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Angola issues first Eurobond for $1.5 bn

Photo©ReutersAngola launched its first Eurobond on Thursday with the aim of raising $1.5 billion for long-term economic development, the Finance Ministry said.

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Fear of oil price drop cuts Angola's cuts 2016 growth forecast

Angola relies on oil for two-thirds of its tax revenue. Photo©ReutersAngola expects growth for 2016 to dip to 3.3 percent, Finance Minister Armando Manuel said, as low oil prices continue to hit Africa's second-largest crude exporter.

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Hunger strike in Angola: A life at stake

Luaty Beirao, Angolan rapper and activist. Photo©RedAngola.infoThe regime in Luanda is playing hardball with a prisoner's life. Luaty Beirao, a 33-year old Angolan rapper and activist, is in a critical condition.

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Hunger strike: The Angola clock that doesn't stop

Aline Frazão is an Angolan singer. Photo©All Rights ReservedAt midnight on the 21st of September four Angolan political prisoners began a hunger strike.

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Angola's central bank plans further kwanza devaluations

Angola's central bank is planning to further devalue the kwanza this year and will continue a managed currency slide in 2016, two banking sources said on Thursday, as Africa's second-biggest oil exporter struggles with lower crude prices.

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Money, greens and politics

Photo©ReutersOver the next three months, Africa's economic battles – over currencies, commodities, debt and climate-change finance – will shake up politics.

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Banking: SWIFT's growth in Africa and Middle East outpaces global rate

Photo©ReutersGrowth in financial transactions messaging system SWIFT's traffic volumes in the Middle East and Africa has accelerated by double-digit percentages this year as banks expand rapidly and non-financial institutions join the industry cooperative, said the regional head.

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Moe Shaik: We need a more reality-based approach

Photos© Lulama Zenzile/Foto24/Gallo Images/GettyThe spy chief turned bank chief is bullish about the development bank's impact in the region, but says risk mitigation must inform large multi-country projects

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Angola's economy slows down because of weaker oil prices

Photo@ReutersLuandaAngolan economic growth is likely to slow to an average of 3.5 percent a year between 2015 and 2016 from about 4 percent last year, the International Monetary Fund said this week, citing weaker oil prices.

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Impact investing: Good things can start out small

Photos©Aldeia NovaDespite strong growth in impact investment in Africa, funding for the SME sector has remained scarce. Now, new models are emerging to boost start-ups

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A vengeful sentence for a 'Blood diamonds' journalist

Rafael Marques de Morais. Photo©H. Coroado/ReutersIf the six-month suspended sentence handed down in late May to Angolan journalist Rafael Marques de Morais for criminal defamation was designed to silence the activist, it has had quite the opposite effect.

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Support for anti-corruption march in South Africa grows

Photo©ReutersSouth Africans fed up with the growing corruption in the country are planning simultaneous marches in two major cities next month.

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Oil and Gas: Angola requests bids for 10 onshore oil blocks

Photo©ReutersAngola's state oil firm Sonangol on Monday requested prequalified bidders to submit bids for ten onshore oil blocks as Africa's second largest crude exporter aims to open up new exploration opportunities.

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Hospitality investments: AccorHotels in Africa expansion with Angola deal

Sebastien Bazin, Chairman and CEO of AccorHotels. Photo©ReutersAccorHotels has sealed a deal with Angolan insurance and investment company AAA Activos to open 50 hotels in the country by 2017, the French company said, as part of its expansion in Africa.

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