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Angolan minister warns of cancellation of mining licenses

The government of Angola is expected to withdraw licenses from operators who have mining concessions but do not have the capacity to develop the business, the Minister for Geology and Mining said Wednesday in Lubango, southern Huila province.

Minister Francisco Queiroz said at the end of a meeting with mining operators in the southern region of Angola, which includes the provinces of Huila, Namibe, More

Angolan minister calls for export of ornamental rocks to help overcome crisis

The minister of Geology and Mining of Angola Wednesday in Lubango called for a boost to the ornamental rocks processing sector as a way to overcome the current crisis caused by a fall in oil prices.

Francisco Queiroz was speaking at the end of a meeting with mining operators in the south of the country, including the provinces of Huila, Namibe, Cunene More

Angola issues US$2.1 billion in debt in 2016

The government of Angola this year plans to issue over US$2.1 billion in Treasury bonds, US$423 million of which in foreign currency, to finance public works, according to two executive orders signed by the Minister of Finance.

One order states that the issue of Treasury bonds in kwanzas amount to US$1.693 billion (264 791 800 000 kwanzas), to be placed under auction, More

Angola exposed to more risk from austerity and uncoordinated reforms

Applying “disorderly” budget cuts and structural reforms may bring more risks to Angola, beyond those associated with its excessive dependence on oil, according to the office of economic reports at Portuguese bank BPI.

“The short-term outlook continues to present major challenges due to the adverse external climate, as international oil prices should not quickly recover to levels seen in the past,” said More

Difficulties in obtaining foreign currency limits dairy company Lactiangol in Angola

The difficulty in obtaining foreign currency to purchase raw materials is affecting the production of both milk and other dairy products by Lacticínios de Angola (Lactiangol), said the company’s president.

José César Bastos Macedo also told Angolan news agency Angop that milk production had to be reduced from 5 million litres to 3.5 million and that of yoghurt, for example, fell by More

Angola issues debt to capitalise venture capital fund

The government of Angola plans to issue Treasury bonds in the amount of 1.5 billion kwanzas (US$9.6 million) to capitalise the Angola Venture Capital Assets Fund (FACRA), according to an executive order of the Ministry of Finance.

With registered capital of US$250 million, FACRA is the first venture capital fund created by the Angolan government under the Development Program for Micro, Small More