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Wed,22Nov2017

Angola

Angola: Luanda's costly new airport raises questions

Could the MPLA have gone a bridge too far with its ambitious infrastructure plans? Photo©AlamyWhile there is a pressing need for greater flight capacity, the ruling party's flagship project is causing rumblings of discontent amid claims that party cadres will profit.

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Samsung expects squeeze in African growth

Samsung Electronics expects its recent stellar revenue growth in Africa to slow sharply this year as the continent begins to succumb to the delayed effects of global economic weakness.

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Banking: We must adapt to the Angolan reality - Carvalho

Ari de Carvalho, Chief Executive, Banco BAI Micro FinançasThe microfinance bank Banco BAI Micro Finanças (BMF) celebrated its 10th birthday in August. With BAI a 90% shareholder, it has a client base of more than 40,000.

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Angola's Sonangol seeks to ship oil to Indonesia in 2015

File Photo©ReutersAngola's state oil and gas company, Sonangol is hoping to start supplying crude oil to Indonesia's state oil firm early next year in a possible joint venture, company officials said on Monday.

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Angola's economy grows, but what about the poor?

Angola's capital, Luanda. Photo©reutersAlthough Angola's economy grew by 5.1 percent in 2013, making the Southern African country one of the world's fastest growing economies, ordinary Angolans have seen little change in their standard of living.

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Africa set to switch on gas-to-power potential

Africa's under used gas reserves, either exported or burnt away into the sky, are set to play a big role in stemming the continent's crippling electricity void, a shift that should boost economies and small-cap energy firms.

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Angola: 5 percent average 4-year growth forecast

Luanda, Angola's capital. Photo©ReutersAngola's economy should grow at an annual average rate of 5 percent over the next four years, boosted by the increasing participation of the private sector, Angola's central bank said on Monday.

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Angola: 25 percent fuel price increase

Photos@ReutersAngolapetrolstationOff the back of a disappointing oil output this year, Angola, Africa's second largest oil producer, has increased fuel prices by an average of 25 percent.

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Singapore-Africa: An island with continental ambitions

Singapore-listed Olam has planted 3,600ha of rice in Nigeria’s Nasarawa State. Photo©OlamSingapore will host its third biennial African trade summit in August, building on an already thriving business ecosystem.

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Statoil fails to find oil in highly anticipated Angola well

Photo@ReutersAngolaluandaNorwegian oil and gas producer Statoil has drilled a dry well in Angola's pre-salt formations and failed to find commercially viable resources in a well in the Martin prospect in the U.S. Gulf of Mexico, the company said today.

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Trafigura: From trader to infrastructure builder

File Photo©ReutersTrafigura Beheer BV is one of the world's largest trading companies, with nearly 9,000 employees, assets worth $40bn, turnover of $133bn and net profit of $2.2bn in 2013.

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Local content: Cultivating homegrown talent

The oil and gas sector is one of the pioneers in local content, and Nigeria leads the fray. Photo©Antonin Borgeaud for JAAt last, African governments are encouraging the development of networks of small and capable local companies that can become a part of global supply chains and win government contracts.

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We can turn people into world-class providers - Thomas Konditi

Thomas Konditi, Chief financial officer, General Electric (GE) Africa. Photo©All Rights ReservedThe GE facility being built in Calabar exemplifies the company's approach to developing suppliers in Africa.

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DRC and Angola's Borders and barrels

President José Eduardo dos Santos's government expelled 115,000 Congolese people from Angola between December 2008 and July 2009. Photo©ReutersCongo has contested Angola's redrawing of the two countries' maritime border.

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Book Review: Claim No Easy Victories - The Legacy of Amilcar Cabral

Published for the 40th anniversary of Guinea-Bissauan revolutionary Amilcar Cabral's death, this book is a crucial link in the colonial liberation narrative.

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Can natural capital accounting come of age in Africa?

 The depletion of minerals costs South Africa 9 percent of its gross national income. Photo©ReutersIn early June, a University of Pretoria conference at the Governance Innovation Centre, keynoted by Indian eco-feminist Vandana Shiva, contemplated how to go 'beyond GDP'. The current system of economic bean-counting is terribly inappropriate for a continent 'rising' in rhetoric but, in reality, being looted at a breakneck pace.

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Brazil offers Angola $2bn credit for energy, construction

Angolan President Jose Eduardo dos Santos is on a state visit to Brazil. File photo©ReutersBrazil has offered Angola a new credit line worth $2 billion for use in the sub-Saharan African country's energy and construction sectors, Angolan Finance Minister Armando Manuel said on Monday.

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US Secretary of Commerce wants to see AGOA reaching full potential

United States Secretary of Commerce Penny Pritzker. Photo©US Dept. of CommerceUnited States Secretary of Commerce Penny Pritzker wants Ethiopia and other African countries to make the best out of the Africa Growth and Opportunity Act (AGOA), as the lifespan of the legislation is set to expire next year.

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World Bank offers Angola $1 billion to fund infrastructure, agriculture

The World Bank will offer $1 billion in financing to help Angola rebuild infrastructure and develop its agriculture, an official at the Washington-based lender said on Monday.

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US secretary of State headed for Ethiopia, DRC, Angola

John Kerry - US Secretary of State. Photo©ReutersUnited States secretary of State John Kerry is set to start his visit of three African countries on Tuesday in an effort to promote peace and security on the continent.

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