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Angolan banking sector shows signs of consolidation

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In recent years Angola has witnessed the relentless Increase in the number of banks, with many investors attracted by high returns, but consolidation is expected to be the watchword over the next few years, according to Eaglestone.

The drivers of consolidation, according to Eaglestone analysts, will be greater interest from foreign players, the need for some of the banks to increase in size, or meeting new and more demanding capital requirements, as well as the current shareholder structure of Angolan banks.
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Kwando Kubango, Angola, invests in fish farming centre

The province of Kwando Kubango, in southern Angola, will be the location of a new center to promote production of farmed fish (hatchery), as part of an investment of US$14.7 million, according to an official order.

Construction of the Kwando Kubango Hatchery Center will be conducted by Aquafish – Global Solutions.

The purpose of construction of the center, according to the order, is More

Angola produces 2,100 tonnes of coffee in 2013

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Angola produced 35,000 bags of robusta coffee in 2013, which represents about 2,100 tons, according to data collected by Angolan newspaper Expansão.

The newspaper reported that the 2013 harvest was just 7.8 percent less than the 2008 crop when Angola produced 38,000 bags of coffee or a total of 2,280 tons.

Between 2009 and 2011 coffee production declined considerably and only in 2012 More

Private investment in Angola rises to US$2.15 billion in third quarter

Non-oil private investment in Angola rose to over US$2.15 billion in the third quarter of 2014, according to a report from the country’s National Agency for Private Investment (ANIP).

According to ANIP between 1 July and 30 September, 59 new private investment projects were approved.

The approved projects represent a global investment of US$2.15 billion compared to US$261 million in the third quarter More

Angola wants Korean companies in the future Luanda Technology Park

The Angolan Minister of Telecommunications and Information Technologies has said he wants to make use of the South Korea’s experience for the creation of the future Luanda Technology Park.

José Carvalho da Rocha, who spoke before leaving for Seoul, where he will take part in the International Telecommunication Union (ITU) Conference, said he would invite South Korean companies to set themselves up More

Cunene, Angola, to have rail link with Namibia

A new extension of the Moçamedes Railroad will, in teh mid term, connect the Angolan border area of ​​Santa Clara, in Cunene province, to the neighboring Republic of Namibia, allowing greater flow of trade between the two countries, said the governor of Cunene, António Didalelwa.

According to the governor of Cunene the 987-kilometre railway line will be laid between Namibe, Huila and More

Spanish company builds fishing school in Luanda, Angola

Angola plans to invest over US$98 million on a vocational training school for the fishing sector in Luanda, which will be a vocational training school in fisheries to be built and equipped by Spanish company Incatema Consulting & Engineering.

Building and equipping the new Fisheries School (Cefopescas), “is intended to improve training of human resources” in this sector in the province of More

Cabinda Gulf Oil extends work by Maersk Drilling in Angola’s offshore area

The Cabinda Gulf Oil Company (CAGOC), a subsidiary of Chevron in Angola, said it has extended its contract with Danish multinational Maersk Drilling for two years to continue operating in the Angolan offshore area.

The estimated US$378 million contract is focused on surveys in ultra-deep waters off the coast of Cabinda, in the Tombua Landana field in block 14.

The operation began in More