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Chinese banks analyse opportunities in Cabo Verde

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Chinese banks are studying the opportunities available to them in Cabo Verde (Cape Verde), said the Ambassador of Cabo Verde in China adding that contacts underway are still at a “very embryonic” stage.

Ambassador Tania Romualdo said in an interview in the latest Macau Forum newsletter that in addition to banking, Cabo Verde offers potential investors from China opportunities in tourism and More

Brazil exports increasing amount of soy to China

China bought 77% of the soybeans it acquired in July from companies in Brazil, compared to a share of 67% a year earlier, according to Chinese official figures cited by Brazilian newspaper Folha de São Paulo.

The newspaper reported that in July China imported 7.76 million tonnes of soy – beans, flour and bran – and that of that total 6 million More

Brazil and China sign cooperation agreement for trade and services

The governments of Brazil and China in September plan to sign a cooperation agreement on trade and services during the next G-20 summit meeting, said the Presidency of Brazil.

The subject was dealt with by incumbent president, Michel Temer, with the Minister of Industry, Trade and Services, Marcos Pereira, on 17 August, at the Presidential Palace.

Minister Marcos Pereira told website Portal Planalto, More

Mozambique firms struggling to repay loans

Successive increases in benchmark interest rates decided by the Bank of Mozambique are leading some companies having difficulties in repaying their loans, according to independent newspaper Mediafax.

Since October 2015 the central bank has been raising interest rates to contain inflationary pressures, and with the latest increase, last July, the lending rate was increased by 300 basis points to 17.25%.

Commercial banks followed More

Port of Luanda, Angola, handles less cargo, containers and ships in the 1st half

The port of Luanda in the first half of the year handled 3.1 million tonnes of containerised cargo, a drop of 35% or 1.7 million tonnes over the same period of 2015, according to an official from the infrastructure management company.

Rosas Silverio, head of the statistical control and logistics department of the Port of Luanda, told Angolan news agency Angop that More

Montepio Geral transfers assets in Angola and Mozambique to holding company Arise

Montepio, a Portuguese mutual bank, will join Arise, a company set up by banks supporting the Norfund development fund of Norway and FMO of the Netherlands and by the Rabobank banking cooperative, Portuguese daily financial newspaper Diário Económico reported.

Arise is a holding company (SGPS) that brings together the holdings of each institution in the African market, which according to a source More