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Company invests in construction of steel towers in Angola

Angolan company Construtora CNJ União plans to invest US$65 million in building a factory to manufacture towers for power lines, under a private investment agreement made public in Luanda on Thursday.

According to the investment contract, the plant will be built in the municipality of Cacuso, creating 750 jobs for Angolan citizens and 50 for foreigners.

The plant will have an annual production More

Government of Angola awards projects in Cabinda to Chinese companies

A Chinese company has been hired by the government of Angola to build a power grid and respective residential connections in the city of Cabinda, with the respective contract signed on Wednesday in that provincial capital.

The project for electrification and domestic connections in the city of Cabinda is budgeted at US$60 million and includes construction of three major electrical substations, installation More

Angolan company invests in expansion of its fishing fleet

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The Uniangola company will expand its resources for catching, freezing and packaging fish out at sea through an investment of US$3.75 million signed on Wednesday in Luanda with the Ministry of Fisheries.

The director of the Technical Unit for Private Investment (UTIP), Paula Correia, said that under the contract Uniangola will purchase a new boat, increasing its fishing fleet from two to More

BPI’s problem in Angola resolved to the satisfaction of all sides

The general meeting of Portuguese bank BPI’s shareholders approved the removal of limitations on voting rights, with Spanish bank CaixaBank increasing the price per share that it is offering in the Takeover Bid (OPA) for the bank, reported the Portuguese press on Thursday.

Shareholders gave permission for the CaixaBank to take a controlling stake in BPI, as despite having a 44.81% stake More

Angolan Sovereign Fund invests in agricultural production

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The Angolan Sovereign Fund (Fsdea) will invest US$250 million in seven large farms in the provinces of Bié, Cunene, Malanje, Moxico, Kuando Kubango, Uíge and Zaire, according to a statement issued on Tuesday in Luanda.

The statement, in which Fsdea discloses the results of the investment portfolio in the first quarter of 2016, said that the seven farms have a combined area More

Banco BPI proposes to hand over shareholder control of Banco de Fomento Angola

The board of Portuguese bank BPI Bank has proposed the sale of 2% of the share capital it owns in Angolan bank Banco de Fomento Angola to Angolan company Unitel, which would then have a majority stake in the Angolan bank, according to a letter sent on Tuesday.

In return BPI would receive 28 million euros and Unitel would vote in favour More