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Angola and China will accept national currencies in bilateral trade

The central banks of Angola and China are due to settle the details of an agreement that will allow the use of national currencies of both countries in bilateral trade, said the governor of the National Bank of Angola.

José Pedro de Morais told Radio Nacional de Angola that the agreement, whose signing date More

Angola raises US$58 billion in FDI between 2003 and 2011

Angola raised more than US$58 billion between 2003 and 2011 and will remain a major destination of foreign direct investment (FDI) in Africa, said Monday in Luanda the Minister of Commerce.

Minister Rosa Pacavira, who was speaking at the opening of the first seminar on private investment promotion in Angola, stressed the country was now More

Angola presents proposal to extend its continental shelf in September

Angola has already presented the United Nations with a proposal to extend the continental shelf beyond 200 nautical miles, the minister of Foreign Affairs, Georges Chikoti said Friday in Luanda.

“These issues take time, since it is a question that will be analysed on the basis of international law,” the minister said on the sidelines of the International Conference on Maritime Safety More

Angola should “rectify” excessive import tariffs, WTO says

Angola should “rectify cases where customs duties and other taxes exceed the average level” of 10.9 percent, said the World Trade Organisation (WTO), which offered to provide “technical assistance” to help the Angolan authorities.

“WTO members noted that Angola has introduced a number of measures to replace imports” and said that “the new customs tariff was significantly raised, from 2 percent to More

Banco Millennium Angola merges with Banco Privado Atlântico


Banco Millennium Angola will merge with Angolan bank Banco Privado Atlântico under a memorandum of understanding signed Thursday, Portugal’s Banco Commercial Português (BCP) said in a statement to the market.

in the statement issued through the Portuguese Securities Market Commission (CMVM), BCP also said the MoU was signed with the largest shareholder of Banco Privado Atlântico, Global Pactum – Gestão More

Angola uses World Bank guarantee to take on new loan

The government of Angola plans to borrow US$1 billion on the domestic and international market using a guarantee granted by the World Bank, said in Lima, Peru, the spokesman for the delegation of the Angolan Ministry of Finance.

The ministerial delegation spokesman participating in the annual meeting of the International Monetary Fund (IMF) and the World Bank was referring to More

Private investment in Angola has new regulations

The new regulations for carrying out private investment in Angola stipulates the creation of a “fast lane” to speed up procedures and technical support units in each ministry, according to a presidential order.

“The investment process must be urgent and benefit from the practice of a ‘fast lane’ (via verde), with expedited and automated processing, dedicated, personalised support and computer More

Government grants concession of eucalyptus forests to Angola Sovereign Fund


Fundo Soberano de Angola (Angola Sovereign Fund – Fsdea) will take over the concession of existing eucalyptus plantations in the provinces of Benguela, Huambo and Huila, according to a presidential order cited by Portuguese news agency Lusa.

The move is based on the “high economic potential of the eucalyptus plantations” located in those three provinces, which are still the responsibility More