Angola Launches First Vehicle Assembly Plant as Opaia Group Moves to Cut Import Dependence Angola has taken a significant step towards rebuilding its industrial base with the opening of its first fully operational vehicle assembly plant, signalling renewed efforts to reduce the country’s heavy reliance on imported cars and buses. The facility, officially launched in Luanda by the privately owned Opaia Group, marks the return of vehicle production to the oil-rich southern African nation after
Angola Polished Diamond Exports More Than Double in 2025 as Volumes and Revenues Rise Angola’s polished diamond exports more than doubled in 2025, recording strong growth in both volumes and total export value despite a decline in average prices, according to a statement released by the country’s national diamond trading company, Sodiam, on January 26. Sodiam reported that between January 1 and December 31, 2025, Angola exported 23,300 carats of polished diamonds at an average
Brent Oil Climbs to $65.46 on Iran Tensions, Strengthening Angola’s Export Benchmark The price of a barrel of Brent crude oil, the international benchmark used for Angola’s oil exports, closed higher on Monday on the London futures market. Contracts for March delivery rose by 2.49 percent to $65.46 per barrel, driven by growing concerns over potential supply disruptions from Iran. The upward movement reflects heightened investor anxiety about instability in Iran, one of the largest
Zambia’s Ambassador to Angola Tours Lobito Oil Refinery, Boosting Regional Energy and Trade Links His Excellency Rev. Dr. Elias Munshya, Zambia’s Ambassador to Angola, concluded an official working visit to Benguela Province with a technical tour of the Lobito Oil Refinery, a flagship energy infrastructure project within the Lobito Corridor framework. The visit took place on Wednesday, January 14, 2026, and marked the final engagement of the Ambassador’s programme in Benguela, which aimed to strengthen
Angola Reaches Agreement with JPMorgan to Extend $1 Billion Loan as Eurobond Yields Fall Angola has reached an agreement in principle with JPMorgan Chase & Co. to roll over a $1 billion loan that was set to mature at the end of this year, the country’s finance ministry announced. Details of the renewed arrangement—including maturity, interest rate, and collateral—are still being finalized, a ministry spokesperson said. The original loan, signed in December, was structured as
IMF Chief Praises Angola’s Economic Reforms and Urges Continued Structural Transformation International Monetary Fund (IMF) Managing Director Kristalina Georgieva has concluded her first three-day visit to Angola, where she praised the government’s ongoing efforts to reform the economy and reduce its dependence on oil since 2017. Georgieva noted that Angola’s reform momentum has delivered clear progress, but stressed that continued action is essential as the global economy undergoes rapid change. “Angola must move forward with
EU’s Ursula von der Leyen Says African Economic Integration Could Generate Over USD 450 Billion The President of the European Commission, Ursula von der Leyen, said today in Luanda that full African economic integration could generate more than USD 450 billion in additional income for the continent. Speaking at the opening session of the African Union–European Union Business Forum 2025, von der Leyen explained that this integration will advance through the African Continental Free Trade
Angola’s Extractive Sector Channels Over $565 Million Into Community Development Projects in 2024 Companies operating in Angola’s mineral resources, oil, and gas sectors invested more than USD 565 million in 2024 across 860 social projects focused on education, health, economic development, culture, sports, environmental protection, and biodiversity. The figures were announced on Monday by the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, during the public presentation of the 2024 Social Investment Report detailing
J.P. Morgan Becomes First U.S. Bank to Restore Dollar Clearing in Angola, Signaling Confidence in Financial Reforms J.P. Morgan has become the first U.S. bank in nearly a decade to resume dollar clearing services in Angola, marking a major step in the country’s ongoing efforts to reconnect with global financial markets after years of isolation caused by corruption and compliance concerns. The move ends a nine-year absence of major U.S. banks from Angola, following their
João Lourenço Highlights Angola’s Oil Sector Progress; Experts Call for Acceleration Amid Global Energy Transition Luanda, Angola — In his State of the Nation Address marking the opening of the 2025–2026 parliamentary year, President João Lourenço outlined the progress achieved through ongoing reforms in Angola’s oil and gas sector, emphasizing the country’s commitment to energy development and economic diversification. The President highlighted the successful implementation of the 2019–2025 Oil Concession Allocation Strategy, which has already
