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Category: Economy

Local Economy Newsletter

Angola and Zambia Reaffirm Security and Economic Cooperation at Joint Defence and Security Meeting

Angola, Zambia Strengthen Defence and Trade Cooperation, Advance Lobito Corridor and Border Infrastructure Plans The Republic of Angola has reaffirmed its commitment to strengthening bilateral relations with Zambia, with a focus on regional stability, good neighbourliness, and expanded strategic cooperation. The position was outlined during the official opening of the Ministerial Meeting of the 34th Angola–Zambia Joint Permanent Commission on Defence and Security held in Luanda. Angola’s Minister of Foreign Affairs, Téte António, said Angola’s

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Oil Economy Local News

Angola Oil Revenue Rises to $7.16 Billion in Q1 on Stronger Prices

Angola Oil Export Revenue Climbs 10% to $7.16B in Q1 2026 as Higher Brent Prices Boost Earnings Angola generated $7.16 billion from crude oil exports in the first quarter of 2026, representing a 10.18% increase compared to the same period in 2025, according to government data. The figures were presented by Secretary of State for Oil and Gas José Barroso during a quarterly review of the country’s oil and gas sector performance. Higher prices drive

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Diamonds Economy Local

Lunda Norte Inaugurates Chitotolo Diamond Plant to Boost Production and Jobs

Angola Opens $9M Chitotolo Processing Plant in Lunda Norte, Raising Diamond Output Capacity by 140% The governor of Lunda Norte, Filomena Miza, has inaugurated the new Recovery and Processing Plant (CRP) of the Chitotolo Mining Company in a ceremony attended by the Minister of Mineral Resources, Petroleum and Gas, Diamantino Pedro Azevedo. The new facility is expected to significantly increase diamond production capacity while creating additional employment opportunities in the province, supporting both local livelihoods

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Diamonds Corporate News Economy Local

Endiama and Rio Tinto Launch Chiri Mining Venture for Diamond Exploration in Angola’s Lunda Sul

Angola Launches Chiri Mining JV as Endiama and Rio Tinto Begin Diamond Exploration in Lunda Sul Angola’s state-owned Endiama and global mining company Rio Tinto have officially launched the Chiri Mining Company, a joint venture that will carry out diamond prospecting and exploration in the Lunda Sul province. The company was formally established during a ceremony attended by Angola’s Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, marking a new phase in the country’s

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Gold Economy International

DRC Signs Gold Supply Deal with UAE Firm to Expand Access to Global Bullion Markets

DR Congo Partners with UAE-Based Paradigm Holdings to Boost Gold Exports Through Dubai Trading Hub The government of the Democratic Republic of the Congo has signed a gold supply agreement with UAE-based Paradigm Holdings, marking a new step in efforts to expand the country’s access to international bullion markets through Dubai. The deal highlights the growing role of the United Arab Emirates as a key intermediary in global gold trade, connecting resource-rich African producers with

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Local Economy News

Angola Advances $400 Million Debt-for-Education Swap to Strengthen Fiscal Stability and Social Investment

Angola to Finalize $400M Debt-for-Education Deal by June as Government Restructures Debt and Boosts Education Spending Angola is set to complete a $400 million debt-for-education swap by June, according to Finance Minister Vera Daves de Sousa, as the country intensifies efforts to manage its debt burden while increasing investment in social sectors, particularly education. The agreement, backed by guarantees from the World Bank, will be structured through a commercial bank tasked with executing the transaction,

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International Diamonds Economy Mining Oil Partnerships

Botswana Deepens Economic Diversification with New Mining, Energy and Infrastructure Deals with Oman

Botswana signs strategic mineral, oil, and renewable energy agreements with Oman to diversify economy beyond diamonds Botswana has signed a series of agreements with Oman aimed at strengthening cooperation in mineral exploration, oil storage infrastructure, and renewable energy development, as the country accelerates efforts to diversify its economy beyond diamonds. The agreements were concluded during a state visit to Oman by President Duma Boko, where he held talks with Sultan Haitham bin Tariq. According to

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Diamonds Economy Local News

Angola Diamond Production Rises 8% in 2025 as UAE Dominates Export Market

Angola Produces 15.19 Million Carats of Diamonds in 2025, with UAE Accounting for Nearly 80% of Exports Angola increased its rough diamond production by 8% year-on-year to 15.19 million carats in 2025, exceeding the national target of 14.8 million carats, a senior government official said on Tuesday. The United Arab Emirates accounted for nearly 80% of the country’s diamond exports during the year. According to government data, the United Arab Emirates represented 78.6% of Angola’s

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Local Economy Gold News

Angola to Launch First Gold Refinery as Part of Economic Diversification Strategy

Angola opens first gold refinery in 2026 to boost mining value, reduce reliance on oil and diamonds Angola, Africa’s second-largest oil producer, is set to operate its first gold refinery in the first half of 2026, signaling a push to diversify its economy and extract more value from mineral resources. The refinery, located in Viana near Luanda, has a processing capacity of approximately 20 kilograms per day. Construction and equipment installation have been completed, with

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International Economy Gold

BRICS Plus Nations Expand Gold Reserves as Central Banks Accelerate Shift Away from Dollar

BRICS Plus gold reserves surpass 6,000 tonnes as central banks boost purchases and dollar share declines Members of the BRICS Plus trade bloc now hold more than 6,000 tonnes (t) of gold, representing about 17.4% of total global central bank reserves, up from 11.2% in 2019, according to a market note by financial services group EBC Financial Group. Russia leads the bloc with 2,336 t of gold reserves, followed closely by China with 2,298 t,

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