You are Here

Category: Economy

Economy Oil

Italy is an Essential Partner, Says Angolan President During State Visit

Angolan President João Lourenço reiterated the value that Angola-Italy cooperation will continue to play in advancing the development of the country’s economy. Speaking during a state visit to Italy this week, the President made clear his country’s intention to strengthen bilateral ties, leveraging Italian expertise, technology and capital to generate new investment across high potential markets in the southern African country. According to the President, with mutually beneficial partnerships representing an important strategy for increasing job creation,

Loading

Read More Here

Economy Energy News

TAAG Airlines of Angola and the Brazilian company Gol have formalized a new partnership

The partnership is focused on the cargo segment, following an agreement they made in April of this year to promote passenger traffic through codeshare. This information was conveyed in a note sent to JA Online today. With the Special Prorate Agreement (SPA) agreement that has just been signed, TAAG will now incorporate GOL’s destinations in Brazil and Latin America within its distribution and cargo collection network. The document also states that with this partnership, TAAG

Loading

Read More Here

Economy News

The trade balance records a surplus of 14.9 billion kwanzas.

The trade balance of Angola recorded a surplus of 14.9 billion kwanzas in the economic year of 2022, according to data from the National Institute of Statistics (INE). INE data shows that, comparing the balance evolution between 2021 and 2022, there is a growth of 7.59 percent. The main partners of Angola in exports during the period were China, with 43.70 percent, India (10.24%), France (7.25%), the Netherlands (6.83%), and Spain (4.43%), in relation to

Loading

Read More Here

Economy News

Angola is already preparing to participate in the 3rd edition of the China-Africa Expo.

The invitation for the participation of Angolan authorities in this event was extended during the meeting held on Wednesday at the Glass Palace between the representative of the People’s Government of Changsha City, Tan Ding, and the Minister of Industry and Commerce, Victor Fernandes, who will lead the national delegation. During his speech, Victor Fernandes assured that Angola is working diligently to ensure a successful participation, highlighting the involvement of the Angola-China Chamber of Commerce

Loading

Read More Here

Economy Energy News

Construction of Dam Wall begins at Caculo-Cabaça Hydropower Project in Angola

Excavation work has started for the construction of the 2,172 MW Caculo-Cabaça hydroelectric facility in the Kwanza Norte Province of Angola. Completion of the infrastructure development for the project is set for October 2026, while commissioning is scheduled to commence in 2028. A ceremony commemorating the development took place on 20 May, and was attended by the President of Angola, H.E. João Lourenço, who ceremoniously authorized the provisional deviation of the course of the Kwanza

Loading

Read More Here

Economy International Mining News

Gold retreats again driven by rising U.S. dollar

Gold prices fell again on Tuesday as a recovering U.S. dollar took its toll, with prices heading for a fifth day of losses in six sessions after the biggest pullback since February last week. Price action Market drivers Gold prices have pulled back since the most-active contract logged its second-highest settlement level on record on May 4. It was the highest settlement since the all-time high reached in August 2020. Whether the yellow metal rallies

Loading

Read More Here

Economy Energy International Mining News

Maximizing Sustainability in African Mining: Five Key Strategies

Private and public-sector led mining activities across Africa are prioritizing sustainable techniques in projects deployment for environmental sustainability, social responsibility and good business practices. With the continent maximizing exploration and production of its vast extractive resources including critical minerals such as lithium and cobalt to shape the global energy transition and drive economic growth, sustainability has become a standard. Sustainable Mining Techniques and Land Management While traditional mining techniques such as open pit and underground mining have significant impact

Loading

Read More Here

Economy Energy International

Empowering Energy: Unlocking Financing for Projects in the MSGBC Region

Despite offering significant energy resources, access to financing remains one of the key challenges facing energy projects in the MSGBC region. Fortunately, there are various financing avenues emerging, presenting new opportunities for MSGBC governments and project developers alike to leverage the full potential of regional resources. Traditionally, energy projects in the region have been financed by international banks, development finance institutions (DFIs) and by project developers themselves. These institutions provide loans, guarantees, and equity investments to

Loading

Read More Here

Economy Energy Gas Oil

Perenco Inaugurates New Production and Training Platform Offshore DRC

Independent Anglo-French oil and gas company Perenco has inaugurated a new  offshore platfrom, named Magisus in Muanda in the Democratic Republic of Congo (DRC). The offshore facility, which was launched by H.E Didier Budimbu, Minister of Hydrocarbons, DRC and Wivine Moleka, Deputy Minister of Hydrocarbons, DRC will be leveraged by Perenco to increase oil production by enabling the independent to connect new wells drilled in 2023 and 2024.  The facility’s gas compression capabilities will help Perenco to avoid

Loading

Read More Here

Economy Energy International Petroleum

Nigeria Inaugurates Africa’s Largest Refinery

President Muhammadu Buhari of Nigeria inaugurates Africa’s largest refinery today in Lagos, which is expected to process 650,000 barrels per day and reduce fuel imports in the country.” The project launched in 2013 by businessman Aliko Dangote occupies 2,635 hectares of land in the Lekki Free Trade Zone and cost around $19 billion, making it one of the largest industrial complexes on the continent and potentially capable of changing the situation in Nigeria. According to

Loading

Read More Here

1 … 53 54 55 56 57 … 87