DRC and Angola Central Banks Sign MoU to Boost Cross-Border Payments, Financial Integration and Trade The Central Bank of Congo (BCC) and the National Bank of Angola (BNA) have signed a memorandum of understanding (MoU) to strengthen financial and monetary cooperation between the Democratic Republic of Congo (DRC) and Angola, marking a significant step toward deeper regional economic integration. The agreement was signed on July 8, 2026, in Luanda by BCC Governor André Wameso Nkualoloki
Afentra Accelerates Angola Growth Plans with Block 3/05 Drilling and Increased Offshore Stakes Aim-listed Afentra is accelerating its growth strategy in Angola, advancing drilling activities, expanding its offshore portfolio and progressing exploration across key assets following a strategic review that reaffirmed its commitment to remain an independent exploration and production company. At the company’s flagship Block 3/05 asset, the 2026 infill drilling campaign is under way, with drilling of the Pacassa SW well in progress.
Angola’s Lobito Corridor Railway Project Reaches $753 Million Financial Close to Expand African Trade Connectivity The Lobito Corridor railway project in Angola has reached financial close after securing $753 million in funding, marking a major milestone for one of Africa’s most important regional transport infrastructure initiatives. The financing will support the rehabilitation, upgrade and long-term operation of the 1,300-kilometre railway corridor linking the Port of Lobito in Angola to the border with the Democratic Republic
Tyranna Resources Divests Angola Lithium Project to Sinomine, Redirecting Funds to Chinguar Gold Development Australian-listed Tyranna Resources has agreed to sell its interest in the Namibe lithium and caesium project in southern Angola to Sinomine Resource Group for $1.44 million, allowing the company to focus on new exploration opportunities in Angola. The transaction involves the sale of Tyranna subsidiary Angolan Minerals’ 90% interest in AM Mauritius, the holding company for the Namibe project, to Sinomine
Angola’s Oil and Gas Exports Reach $27.7 Billion in 2025 as Production Exceeds One Million Barrels Per Day and China Leads Purchases Angola’s economy continued to be heavily driven by its oil and gas sector in 2025, which generated the vast majority of export earnings, according to data from the Ministry of Mineral Resources, Oil and Gas. Crude oil remained the country’s dominant export commodity, earning approximately US$24.5 billion over the year. Natural gas contributed
Anglo American Presents Copper Prospecting Project in Angola’s Cazombo Salient Amid Regional Copper Belt Expansion Anglo American has presented a copper prospecting project in Angola’s Cazombo Salient, highlighting new opportunities for the country’s mining sector. The presentation took place on Tuesday in the commune of Calunda, in the municipality of Muconda, Moxico Leste province, and was disclosed by the Ministry of Mineral Resources, Petroleum and Gas in a statement. According to the ministry, Anglo American
Angola grants new tax incentives for Chevron, TotalEnergies and BP oil blocks to attract upstream investment The Angolan government has approved additional tax incentives for four offshore oil blocks in a move aimed at attracting investment into areas considered to carry high operational complexity and significant geological risk. The decision was taken during an extraordinary session of the Council of Ministers held on Monday at the Presidential Palace, chaired by President João Lourenço. The measures
Angola must invest in electricity exports and prepare for post-oil economy, warns Antonio Costa Silva Former Portuguese Economy Minister António Costa Silva has urged Angola to urgently accelerate economic diversification and prepare for a post-oil future, warning that declining production from mature oil fields could significantly impact the country’s revenues in the coming years. Speaking in Luanda during the presentation of a Deloitte banking sector report, Costa Silva noted that Angola could face an estimated
Angola’s Sonangol Raises $2.65 Billion from International Banks to Fund Operations and Refinery Expansion Angola’s national oil company, Sonangol, has secured a US$2.65 billion financing package from a consortium of international banks to support its operational needs and ongoing capital investment programme, according to a company spokesperson cited by Reuters. Sonangol, Angola’s largest energy company, operates across the full hydrocarbons value chain, including crude oil and natural gas exploration, production, and downstream activities. Bankers involved
Angola Approves $5.1 Billion Greater PAJ Offshore Oil Project to Boost Production and Extend Oil Lifespan Angola has secured a significant vote of confidence in its oil sector after Azule Energy and its partners approved the US$5.1 billion Greater PAJ offshore development, one of the country’s largest upstream investments in recent years. The Final Investment Decision (FID), announced in Luanda, paves the way for development across offshore Blocks 31 and 31/21, an area estimated to
