Report by the International Agency, Global WF, gives a positive note on the good management of funds from the national oil sector for the country’s economic development The Fundo Soberano e Desenvolvimento de Angola (FSDEA) scored 80 percent in the 2022 International Ranking on Governance, Sustainability and Resilience (GSR), above the index average of 49 percent, placing the fund among the top 15 , in an index composed of more than 160 sovereign wealth funds
The Single Window for Licensing Commercial Activity (JULAC) issued, between April 2021 and July of this year, 205,019 licenses, in response to a total of 251,577 requests for international trade facilitation. The data are contained in a report by the Institute of Administrative Modernization (IMA) dedicated to the Integrated Foreign Trade Platform (PICE), indicating that, in the period in question, a total of 79,950 national and foreign companies obtained licenses, with an average of 596
Australia’s Lucapa Diamond (ASX: LOM) has recovered a 160-carat white Type IIa diamond at its prolific Lulo mine in Angola, the sixth-largest recovered at the operation to date. The diamond was found at the same alluvial mining block as the Lulo Rose, a 170-carat pink-coloured diamond believed to be the largest of its kind found in Angola in 300 years. Lucapa has a 40% stake in the Lulo mine, which hosts the world’s highest dollar-per-carat alluvial diamonds. The rest is held
Angola is pursuing improved cooperation with Egypt as the country looks at strengthening trade and investment within the energy, industry and commercial sub-sectors. Leveraging Egypt’s expertise, particularly within oil, gas, renewable energy and industrial engineering, the southern African country has prioritized foreign investment, intra-African trade and economic diversification. Speaking during the opening of an economic forum between the two countries this month, Angola’s ambassador to Egypt, Nelson Manuel Cosme, emphasized that the country is officially open
The United States of America, France, Italy, China and the United Kingdom were the countries that, in the first quarter of this year, stood out in terms of the origin of foreign direct investment in the oil sector in Angola, according to the report by the National Bank of Angola. Regarding the non-oil sector, the same source says that South Africa and Belarus stand out. In relation to the balance of direct investment, in the
The consultancy Focus Economics predicts that the Angolan economy will grow 3.2 percent this year and accelerate to up to 3.6 percent in 2024, also forecasting an expansion below the average of sub-Saharan African countries. “Growth is expected to accelerate significantly this year, in a context in which the easing of restrictions related to the pandemic boosts domestic demand, while the external sector benefits from high raw material prices”, write analysts at Focus Economics. ,
The consultancy FocusEconomics predicts that Angola’s economy will grow 3.2% this year and accelerate to up to 3.6% in 2024, also forecasting an expansion below the average of sub-Saharan African countries. “Growth is expected to accelerate significantly this year, in a context in which the easing of restrictions related to the pandemic boosts domestic demand, while the external sector benefits from high raw material prices”, write analysts at FocusEconomics, in the monthly analysis of sub-Saharan
Oil revenues in Angola rose 71.1% in the first half of the year, compared to the first six months of last year, despite production having increased by just 3.3%, according to consultancy Oxford Economics Africa.\ “Despite historically low levels of oil production, statistics from the Ministry of Finance continue to show a strong improvement in oil revenues, mainly due to higher prices”, write the analysts, noting that revenues reached 4.2 billion kwanzas. , in the
Crudes from Algeria, Equatorial Guinea and Angola became the most expensive in the world during June and for the first half of 2022 as a whole, according to the Organization of the Petroleum Exporting Countries’ (OPEC) monthly report released on July 12. Algerian crude, Sahara Blend, has become the most expensive in the world during the past June and the first six months of 2022. The average price of this low-sulfur, very low-density crude reached
This Monday, at a meeting of the Council of Ministers, the granting of concessions for eight of the nine oil blocks in the Baixo Congo and Kwanza basins was approved. “The National Agency of Petroleum, Gas and Biofuels (ANGP), as National Concessionaire, holder of mining rights for prospecting, research, evaluation, development and production of liquid and gaseous hydrocarbons in Angola, announces that it was approved at a meeting of the Council of Ministers, this Monday,
