Angola is expected to have a less severe impact when compared to its African partners due to increased oil revenues; more stable production and high oil prices have resulted in a flow of petrodollars during the last year, which has strengthened the rate of exchange rate of the kwanza and improved the opinion on the sovereign credit of the country”, write the analysts of Oxford Economics. In the comment on the impact of the war
Angola overtook Nigeria as the largest oil producer in sub-Saharan Africa in May, according to data from the Organization of Petroleum Exporting Countries (OPEC), by pumping 1.1 million barrels a day. Angola’s production fell from 1.183 million barrels a day pumped in April to 1.162 million in May, but benefited from an even greater drop by Nigeria, whose production fell from 1.219 million barrels in April to 1.024 million the following month, thus losing the
Sandvik has signed an agreement to acquire 100% of the equity interests of the Portugal-based company Frezigest, SGPS (“Frezite”). Frezite’s offering primarily consists of made-to-order polycrystalline diamond (PCD) tools for metal and wood applications, with exposure to the automotive, general engineering and aerospace segments. The company will be reported within Walter, a division within Sandvik Manufacturing and Machining Solutions. “With the acquisition of Frezite, we take another important step in our shift to growth strategy.
With mining seeing a more sustained improvement in many Southern African Development Community (SADC) countries, miners, and supply partners with experience on the ground are set to have greater gains in the coming year. Miners in the region are not only currently enjoying high commodity prices, but also benefiting from improved supply chains, despite the global disruptions because of the pandemic, and stronger production performances, marking an encouraging first half of the year for the
The United States (U.S.) Government, with support by the U.S. Department of Commerce and the Export-Import Bank of the United States, has facilitated a partnership between the Government of Angola and U.S.-based project development firms, AfricaGlobal Schaffer and Sun Africa, for the mobilization of $2 billion to develop a solar project in the southwestern African nation. The project will include the development of solar mini-grids, home power kits and solar-to-power telecommunications. Announced by U.S. President Joe
