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Economy Local News

UAE Expands Strategic Economic Partnership with Angola

The International Institute for Strategic Studies recently confirmed that the United Arab Emirates (UAE) is intensifying its economic relations with Angola through significant investments in key sectors such as energy, technology, and maritime logistics. According to the Institute, the UAE is exploring opportunities in food security through partnerships between the two countries. The UAE views Angola as a growing consumer market and notes that several leading Emirati companies are already investing in critical sectors of

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Local Economy News Transport and Logistics

G7 Investment Set to Transform Angola’s Lobito Corridor

Luciano Chilembe, the financial administrator of the Catumbela Industrial Development Pole (PDIC), expressed satisfaction with the recent $320 million financing provided by the Group of Seven (G7) richest countries for projects in the Lobito Corridor. This funding is expected to significantly enhance the region’s infrastructure and economic potential. Chilembe emphasized the critical work ahead in the transport sector and the need for a focused approach to consolidate reforms in agro-industry and related services. He highlighted

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Local Infrastructure Transport and Logistics

Angola-Zambia Road Project to Boost Trade and Economy in Eastern Angola

Economists and business leaders in Lunda-Norte believe that the construction of a road connecting Angola and Zambia, part of the Lobito Corridor initiative, will significantly enhance the flow of goods and services between Angola’s eastern provinces and the country’s coast. The project involves constructing an approximately 800-kilometer road from Lobito (Benguela) to Luau (Moxico) on the Angolan side. companies, including a consortium like SIbitech and Queiroz Galvão, as well as AFAVIAS, are involved in the

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Diamonds Local

Lucapa Advances Search for Major Diamond Source at Lulo Mine in Angola

Lucapa has intensified its search for the primary source of rough diamonds that supply the Lulo mine in Angola by sampling kimberlites from the nearby Cacuilo River. The miner has identified the area beneath and near the Cacuilo River as a key priority for sampling, believing that the water body carried diamonds from a nearby “mother lode” into Lulo’s alluvial pit. However, severe flooding of the river has previously limited access to this area for

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Local News Oil

Angola to Launch Limited Tender Offering 10 Blocks in Kwanza and Benguela Basins by Q1 2025

In the first quarter of 2025, Angola’s National Oil, Gas, and Biofuels Agency (ANPG) plans to launch a limited tender offering 10 blocks in the Kwanza and Benguela basins, including five marginal fields—a first for the country. To attract investment in these block opportunities, the ANPG is inviting companies to participate in the upcoming licensing round. Negotiations are already open, and companies are encouraged to contact the ANPG ahead of the official licensing launch. As

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Local Mining News

Angola Advocates Stronger Cooperation to End Illegal Mining Practices

On Monday, Jânio Correia Victor, Secretary of State for Mineral Resources, emphasized the need to enhance interaction between the Ministry, Provincial Government, and municipal administrations to combat illegal mineral exploitation, which poses risks to the environment. This statement was made during a visit to Sumbe, Cuanza-Sul province, where he met with Governor Job Capapinha. During the visit, Victor outlined the purpose of the assessment focused on the current state of mineral resource exploration, particularly quartz

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Diamonds Local News

Angola Ranks Fourth Among World’s Largest Diamond Producers in 2023

Angola secured fourth place among the world’s ten largest diamond producers in 2023, generating $1.55 billion from the sale of 9.8 million carats, according to JA Online. This ranking places Angola behind only Russia, Botswana, and Canada, as reported by the Ministry of Mineral Resources, Oil, Gas, and Biofuels on Facebook, citing data from the Kimberley Process. Notably, eight of the top ten diamond-producing countries are African, including Botswana, Angola, South Africa, Namibia, Zimbabwe, Lesotho,

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Local News

EITI Enhances Resource Management in Angola and Mozambique

The Extractive Industry Transparency Initiative (EITI) is considered a crucial framework adaptable to social contexts to ensure effective resource management, according to experts at a sector meeting held on Thursday in Maputo. This initiative aims to enhance service quality and implement transparency requirements in the extractive industries of Angola and Mozambique. By adopting these measures, countries can improve their performance and prepare comprehensive future reports on resource management. The event brought together various stakeholders, including

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Local Gas Renewable Energy

Sonangol Aims to produce 450 MW of Renewable Energy by 2027

Sonangol’s target by 2027 is to produce 450 megawatts (MW) of electricity from clean and renewable sources. Currently, 25.84 MW are already in production, thanks to increased gas availability in Angola and the development of infrastructure. The plan includes constructing new gas facilities at Barra do Dande and Soyo, and completing and rehabilitating existing facilities, focusing on increasing storage capacities in Cabinda, Namibe, Malanje, Huambo, and Moxico. Additionally, Sonangol is consolidating LPG supply via rail

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Local Gas News

Sonangol Expands LPG Production to Meet Growing Demand

Between January and May, Angola consumed a total of 201,133 metric tons of cooking gas (LPG), with projections forecasting growth to 615 to 680 metric tons. This increase is due to significant investments made by Sonangol to expand production across the entire national territory. These statistics are detailed in a report by Sonagás, a subsidiary of Sonangol specializing in the distribution of cooking gas. For the 2024 economic year, the report projects a consumption deficit

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