Retail banks operating in Angola had 327 billion kwanzas (US$3.342 billion) in defaulted loans at the end of 2013, which was a rise of 50.7 percent against the 217 billion kwanzas posted in 2012, Angolan newspaper Expansão reported.
The rise in defaulted loans according to Expansão is due to delays in payments by the State to its contractors, which forces banks to … More
Portuguese construction group Mota-Engil plans to set up two new companies in Angola using initial investment of 2 million euros. The projects have already been approved by Angolan National Private Investment Agency (ANIP) the group’s chairman said in Luanda.
After an audience with the Angolan President, António Mota said that the two companies would operate in the tyre recycling sector and assembling … More
The Angolan government has requested institutional support from Brazil for scientific research and experiments in the coffee sector, as well as technical assistance to conduct studies and joint interventions, the Angolan embassy in the United Kingdom said in a statement.
The request was put forward Wednesday by the Angolan representative for international organisation in the UK, Miguel Gaspar Fernandes Neto, on the … More
Work to build the Kuito Kuanavale power plan, in the Angolan province of Kuando Kubango, is due to begin this year, said the projects director for national electricity company Empresa Nacional de Electricidade (ENE), Joaquim Boaventura.
Cited by Angolan news agency Angop, Boaventura said that the first stone of the facility would be laid soon as the project had been approved and … More
Angolan bank Banco de Comércio e Indústria provided 1.43 billion kwanzas (US$14.6 million) to support businesses taking part in the Angola Invest Programme (Programa Angola Investe), to support micro, small and medium-sized Angolan companies, a director at the bank said Wednesday.
Luís de Almeida, BCI director for Companies and Institutions, said that of that amount 903 million kwanzas were provided as loans … More
Angolan oil company Sociedade Nacional de Combustíveis de Angola (Sonangol) has advised private Angolan companies to bid for new onshore concession areas, the company’s chairman said.
Francisco de Lemos José Maria said that the oil concessions that are open to bids from private Angolan companies are mainly onshore as “they are a smaller risk from a financial point of view.”
The chairman’s words … More
Angolan bank Banco BIC Angola last December approved a loan of US$24.5 million to fund a large maize production project in Kwanza Sul province, the bank’s chairman said Monday in Luanda.
Fernando Teles said that the loan, which is part of the Angola Investe programme, is an integrated project that will include a feed factory, a flour mill, a pig farm and … More
The Kapilongo consortium plans to spend US$100 million on an agro-livestock project that will eventually have 100,000 head of cattle, said the company’s representative in Lunda Norte province, Joel Filho.
Cited by Angolan news agency Angop, Filho said that the agro-livestock project was in the execution phase and involved more than 120 Angolan investors.
The project, which was launched two years ago with … More