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OECD expects Angolan economy to grow 3.8 pct in 2015

Angola’s economy is this year expected to grow by just 3.8 percent, the lowest since 2011 and below the government forecast of 6.6 percent outlined in the rectifying state budget, according to the Organisation for Economic Cooperation and Development (OECD).

The “Economic Prospects in Africa 2015″ report, released Monday, is prepared annually by the OECD Development Centre in conjunction with the African More

Oil company to prospect for oil in Nigeria/São Tomé and Príncipe joint area

The authority of the Nigeria/São Tomé and Príncipe Joint Development Zone is negotiating prospecting in Block 1 of that area with a mid-size oil company, according to the Jornal de São Tomé newspaper.

Block 1, also known as Obô, was acquired by Chevron Texaco and later passed on to France’s Total, which eventually abandoned the project, since the oil was not found More

São Tomé and Príncipe has earned US$60 million from oil operations

The first report submitted by São Tomé and Príncipe in the scope of the Extractive Industries Transparency Initiative (EITI) indicates that the island state received US$60 million in the 2003/2013 period, the local press reports.

The document drawn up to support its application to the EITI, shows that the amount received derives from subscription bonuses, taxes and duties linked to oil exploitation More

Equator Exploration conducts 3D seismic studies in São Tomé and Príncipe

Oil company Equator Exploration is carrying out seismic studies in three dimensions to determine the potential of a block acquired in São Tomé and Príncipe, the archipelago’s National Oil Agency said in São Tomé Monday.

Studies on the block that was acquired for US$2 million and lies about 70 miles off the coast of Príncipe Island began on 10 April and should More

IMF to support São Tomé and Príncipe through three-year aid programme

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The mission of the International Monetary Fund that was in São Tomé and Príncipe in the last two weeks agreed an economic programme with the government of the archipelago with a budget of US$6.24 million, or 60 percent of the country’s quota, according to a statement issued Thursday in Washington.

The announcement, which follows a visit to the archipelago between 24 April More

European Union donates 28 million euros to São Tomé and Príncipe to support the State Budget

The European Union (EU) will donate 28 million euros to São Tomé and Príncipe over the next five years, said the director general of EU International Cooperation and Development, Fernando Melo.

“The European Union has just agreed to provide São Tomé and Príncipe with financial support of 28 million euros over the next five years, in the form of More

Taiwan signs new cooperation programme with São Tomé and Príncipe

Taiwan and São Tomé and Príncipe are due Friday, in São Tomé to sign a cooperation programme for the 2015 financial year, which includes a financial contribution of over US$15 million, a spokesperson said Thursday in São Tomé.

In a statement sent to Macauhub in São Tomé, the Ministry of Economy and International Cooperation reported that the new cooperation framework document More

Portuguese-speaking businesspeople make missions to Guinea-Bissau and São Tomé and Príncipe

The Exporters Union of the Community of Portuguese-speaking Countries (UE-CPLP) and the Business Confederation of the CPLP (EC-CPLP) is organising a trade mission to Guinea-Bissau on 21 to 24 April and to São Tomé and Príncipe on 26 to 28 April, officials said in Lisbon.

Both missions are designed to provide companies with opportunities to meet authorities, business entities, financial institutions and More