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China-Africa Development Fund arrives in Cabo Verde to assess Macau project

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A mission of the China-Africa Development Fund arrived Sunday in Cabo Verde (Cape Verde) to assess the tourist complex project on the islet of Santa Maria in Praia, implemented by Macau businessman David Chow, reported local weekly newspaper A Semana.

The visit will last four days and to explain the purpose of this trip, Cabo Verde Investimento, the tourism and investments agency will host More

Angola wants to curb steel rod imports

The government of Angola is considering an increase in customs duties or even a ban on steel rod imports, a product in which the country is already self-sufficient, said Thursdaythe Director of the Office of Studies, Projects and Statistics (GEPE ) of the Ministry of Industry.

Ivan Prado told Angolan news agency Angop that, as well as steel of which it produces 500,000 More

Angolan company invests US$101 million in milling unit

The Technical Unit for Private Investment (UTIP) of Angola has signed two contracts, one of which, worth US$101 million, intends to produce wheat flour, reported the Angolan press.

This project of greater value involves the company Grandes Moagens de Angola, which plans to build a factory in the Luanda area for wheat milling and storage silos. The investment will be channeled into More

Angola receives investment proposals of US$30 billion in seven months

Investment proposals received by the Technical Private Investment Unit (UTIP), a body set up seven months ago, so far total US$30 billion, the director general of UTIP announced recently.

Norberto Garcia recalled that the approved investments over seven months amounted to US$7.5 billion in projects for the agriculture, fisheries and industrial sectors.

The Director-General of UTIP was taking part in the Act of More

Mozambique and VTB bank about to reach agreement on loan

Mozambique and Russian bank VTB are close to reaching an agreement on the restructuring a loan to public company Mozambique Asset Management (MAM) and payment of the first installment, due on 23 May, Bloomberg reported.

Rogério Nkomo, spokesman for the Finance Minister, told the financial news agency that “the government of Mozambique is negotiating with the Russian bank on how to make More

Standard & Poor’s lowers credit rating on Mozambique

Standard & Poor’s (S&P) has lowered its credit rating on Mozambique by two levels from “B-” to “CCC”, due to the country’s increasing difficulty in honouring its financial commitments, according to a statement issued Friday.

At the end of April the Mozambican government announced it had granted a state guarantee on loans worth US$1.4 billion taken on by public companies, which led the More