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Italy has second largest number of businesses at Filda 2015 in Angola

Italy will have the second largest number of businesses represented at the 32nd edition of the Luanda International Fair (Filda) with 70 businessmen representing 63 companies, an Italian Embassy official said Monday in Luanda.

Mirena Del Grosso, the delegate for the Agency for Foreign Promotion and Internationalization of Italian companies (ICE) and attaché of the Italian Embassy in Angola, also told Angolan More

Angola takes on new loan of US$500 million

Angola will take on a new international loan of US$500 million for energy and water projects, according to a presidential order cited by Portuguese news agency Lusa.

The document from 29 June, approving a financing agreement with Ecotech – Engineering & Technical Services for US$125 million for “budgetary support to the National Treasury” and over US$375 million “to supply materials, products and More

Visit by François Hollande to Angola results in orders for French companies

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The visit by the President of France, François Hollande, to Angola resulted in the signing of letters of intent to order hundreds of millions of euros of shipbuilding and infrastructure construction from French companies.

These agreements were reached during the Angola/France business forum, which was attended by dozens of businessmen from both countries, one of which was between French company Ecoceane, specialised More

French group AccorHotels to manage hotel chain in Angola

French group AccorHotels has established a partnership with Angolan group AAA to open 50 hotels with over 6,200 rooms to be managed until 2017 under an agreement signed Friday in Luanda.

This is one of three business agreements signed during the Angola/France business forum as part of a state visit by French President François Hollande to the Angolan capital.

As part of the More

Angola buys locomotives from the United States

The government of Angola plans to spend US$453.6 million to buy 100 new locomotives from US group GE as well as on modernising older ones, according to two presidential orders.

The orders report that that the investment will be funded by a credit line to Angola from the US Export and Import Bank (ExIm), according to Portuguese news agency Lusa.

One of the More

Angolan government increases public spending in 2nd half

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Angola will increase public spending in the second half of 2015 after cuts included in the amending State Budget (OGE) due to a drop in oil prices, the country’s president said Thursday in Luanda.

According to José Eduardo dos Santos, who was speaking in Luanda at the opening of the third extraordinary meeting of the Central Committee of his ruling MPLA party, More

Commercial bank deposits at Angolan central bank increase to 25 pct

Angolan commercial banks have been required, since Wednesday, to set aside national currency reserves at the National Bank of Angola (BNA) equivalent to 25 percent of customer deposits, said Thursday in Luanda the governor of the central bank.

The ratio of required reserves in national currency since 2014 had been set at 12.5 percent, and on 1 January the BNA increased the More

Angola applies 10 pct charge to bank transfers abroad

The government of Angola will apply a 10 percent charge known as a Special Contribution to the transfer of foreign currency abroad to services contracts for foreign technical assistance or management services, according to a recently approved decree.

The preamble of the presidential legislative decree justifies the measure based on the drop in oil prices on the international market, which caused a More