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Macao magazine


Angola finances construction of power transmission line in Sao Tome and Principe

Construction of a power transmission line costing an estimated U$5.3 million began Wednesday in Sao Tome and Principe, the Sao Tome minister of Public Works and Natural Resources, Fernando Manquego said.

Funded by a credit line from Angola, the work is intended to carry power from the Santo Amaro power plant in Lobata district to the central district of Água-Grande, in the More

Sao Tome coffee producers export 20 tons of coffee to France

The Cooperative of Organic Coffee Producers and Exporters, which brings together 200 farmers in Sao Tome and Principe, plans to export 20 tons of Arabica coffee to France this year, one of the producers said.

Cited by Pan-African news agency Panapress, Luís Mário said that following the recovery of some crop-growing areas production in 2013 rose to 13 tons.

The importer of the More

UN donates US$600,000 to promote agriculture in São Tomé and Príncipe

The United Nations Food and Agriculture Organisation (FAO) has donated US$600,000 to promote agriculture in São Tomé and Príncipe, São Tomé’s minister of agriculture announced on Wednesday.

António Dias said the donation was made per the financial assistance protocol agreement signed on Tuesday in São Tomé by an FAO representative and by the Agriculture Ministry on the government’s behalf.

The agreement, to be More

Angolan company invests in São Tomé and Príncipe

The Angolan company Procongec plans to invest nearly US$4 million to modernise infrastructures in the city of Trindade, 7 km from the capital São Tomé, the local mayor announced on Tuesday.

Nelson Carvalho was speaking at the ceremony to lay the foundation stone for the project to modernise and restore the Trindade complex, an event attended by the President of São Tomé More

Intervention process completed for failed bank in São Tomé and Príncipe

The Central Bank of São Tomé and Príncipe has declared that the intervention process involving Island Bank, a failed private bank sold to Energy Bank, has been completed, the head of the island country’s financial sector regulatory body announced on Tuesday.

In a statement sent to Macauhub, Maria do Carmo stated that “the process of intervention in Island Bank is finished and More

Unitel-STP launches telecommunications services in Sao Tome

Unitel-STP, a subsidiary of Angolan mobile phone operator Unitel, Tuesday launched its commercial telecommunications services in Sao Tome and Principe the company’s Managing Director, Manuel Lemos said.

The announcement was made at a ceremony to inaugurate the Unitel-STP centre on the outskirts of the capital of Sao Tome, which was attended by the Prime Minister of Sao Tome and Principe, Gabriel Costa.

Unitel-STP More

Angola’s Banco BIC considers expansion to Mozambique and Sao Tome and Principe

Angolan bank Banco BIC is considering expanding to Mozambique and Sao Tome and Principe, the bank’s chief executive Fernando Teles told Portuguese news agency Lusa.

Teles noted that BIC, as well as in Angola and Portugal, already operates in Cabo Verde (Cape Verde) and Brazil, and was now “analysing the market” with a view to expanding to Mozambique, “and we have already More

Mozambique and Sao Tome and Principe set up joint committee

Mozambique and Sao Tome and Principe have decided to set up a joint committee that will meet for the first time in the first half of 2015, according to a statement issued by the Sao Tome government.

The decision to set up the committee was made during an official visit by Mozambique’s Foreign affairs and Cooperation Minister, Oldemiro Balói, to Sao Tome More