The country has 9.1 million jobs and 14.1 million people of working age, said Cláudio Fortuna, researcher at the Center for African Studies at the Catholic University of Angola (UCAN), yesterday in Luanda. During the National Conference on Natural Resources in Angola a Blessing for All, which addressed the topic “Economic Challenges with a focus …
Analysts at the Economist Intelligence Unit (EIU) expect 2024-2025 to be a period of relative stability of the Kwanza against the US dollar, due to the “cushion” of foreign exchange reserves. The EIU report, to which Lusa had access, points to a stabilization of the Kwanza, after an estimated devaluation of 34 percent in mid-2023, …
Angola: Experts predict stability of the Kwanza in relation to the Dollar Read More »
Saudi Arabia Strengthening Ties with Africa; Geopolitical Expert Discusses Strategic Vision on Business Africa. Recently, Riyadh hosted the inaugural Saudi Arabia-Africa summit, witnessing the participation of various African heads of state following an invitation by King Salmane ben Abdelaziz Al Saud. Notably, a series of memorandums of understanding and development loan agreements were inked between …
Exploring Saudi Arabia’s Business Prospects and Strategies in Africa [BusinessAfrica]. Read More »
Global organization the International Monetary Fund (IMF) forecasts a 3% growth for Angola’s economy in 2024. In a report titled, ‘Regional Economic Outlook on Sub-Saharan Africa: A Light on the Horizon?,’ the IMF projects that improved economic performance and a return to fiscal consolidation are also expected during the year, with the country’s 2024 growth …
Independent energy company Afentra has received approval from Angola for the acquisition of stakes in Block 3/05 and Block 23 from the country’s National Oil Company Sonangol. Under the agreement, which is pursuant to a sale and purchase agreement between Sonangol and Afentra through its wholly-owned subsidiary Afentra (Angola), the company will acquire a 14% …
Afentra Granted Approval to Acquire Angolan Blocks 3/05 and 23 Read More »
Testing, inspection and certification company SGS has announced plans to increase its investments in Angola’s mining and agriculture sectors, aligning with the Angolan government’s call for economic diversification. The company has also introduced its Angolanization Plan which prioritizes the development and integration of local content, along with its investment commitments for the period 2023-2025. While …
Angola: SGS to Accelerate Investment in Mining and Agri Sectors Read More »
Morocco’s national airliner Royal Air Maroc is set to resume flights to Angola due to the southern African country’s tourism potential and improved business environment. Flights to Angola’s capital city of Luanda will resume this month. Royal Air Maroc highlighted Angola’s emergence as a destination of choice for foreign investors seeking partnerships in the nation’s …
Angolan Monarch of Bailundo Honors Ancestral Ties with Visit to Rio’s Quilombo do Camorim In a poignant journey, the King of the Bailundo Kingdom in Angola, Tchongolola Tchongonga Ekuikui VI, visited the Quilombo do Camorim on the outskirts of Rio de Janeiro during his three-week-long trip to Brazil. Residents joyously welcomed the monarch, dancing and …
French multinational TotalEnergies and Angola’s national oil company (NOC), Sonangol, have signed an agreement to co-launch an initiative aimed at accelerating the decarbonization of Angola’s oil and gas industry and its transition to cleaner energy. TotalEnergies and the NOC will use drone technology to identify, quantify and reduce methane and carbon dioxide emissions from oil …
Angola: TotalEnergies, Sonangol to Use Drone Technology to Monitor Emissions Read More »
Amid efforts to diversify the economy while increasing oil and gas production, Angola has instituted a series of ambitious measures to attract investment. This strategic investment approach has not only welcomed foreign players to the market but encouraged pan-African commerce and economic growth. Visa-Free Travel Opens Business Opportunities Under efforts to bolster tourism while attracting …
Analyzing Angola’s Ambitious Approach to Attracting Investment Read More »