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National Bank of Angola to allow movement of foreign currency accounts once again


Foreign investors and other non-residents with foreign currency accounts will be able to make use of them through debit transactions to pay for services in kwanzas to foreign residents and money orders or transfers abroad, according to a notice from the National Bank of Angola.

Notice 2/17, of 3 February, also includes the use of foreign currency funds through transfers to accounts More

South African group Distell starts beverage production in Angola

South African group Distell ( started production of canned drinks in Angola, said the group’s chief executive in a statement to Reuters news agency.

Angola was the group’s main export market in Africa but sales fell sharply following the fall in oil prices, Angola’s main export, which had the effect of reducing the amount of available foreign currency.

“We have started the production More

Government of Angola pays arrears of US$3.592 billion

The programme to pay off arrears owed to companies from between 2014 and 2016 has a budget of 599 billion kwanzas (US$3.592 billion), said the Director General of the Debt Management Unit (UGD) of the Finance Ministry on Wednesday in Luanda.

Osvaldo João, speaking on Angolan National Radio, he stressed that the settlement programme that was recently approved by the Angolan government More

Chevron Group will continue to invest in the Angola LNG project

US group Chevron will continue to invest in liquefied natural gas (LNG) production project in Soyo, in Angola’s Cabinda province, executive vice president James (Jay) Johnson said on Tuesday in Luanda.

Launched in 2007 to take advantage of the natural gas resulting from oil exploration, the project brings together in Angola LNG, along with Chevron (36.4%), Angolan oil company Sonangol (22.8%), BP More

Angola builds another 44 logistics platforms

Angola will have 44 more urban, regional, port and cross-border logistics platforms, including air cargo centres at major airports in the country, the Minister of Transport said in the city of Huambo.

Minister Augusto Tomás said it was essential to implement the National Network of Logistics Platforms to develop the economy, ensuring the production, storage, consolidation and distribution of products on the More

Dollar loses ground to the euro in Angola

The US dollar has lost ground to the euro in Angola due to the fact that commercial banks have stopped making transactions in US currency after correspondent foreign banks that put dollars in Angolan partner banks stopped doing so, said the governor of the National Bank of Angola.

Valter Filipe, taking stock of a working visit to France, said that the only More