Angolan bank Banco de Poupança e Crédito cleans up credit portfolio

Angolan bank Banco de Poupança e Crédito (BPC) plans to analyse its credit portfolio following guidelines set out by the Finance Ministry to remove non-performing loans from the balance sheet, said the bank’s chief executive.

Speaking to state-owned newspaper Jornal de Angola Paixão Júnior said that the bank would “clean up its credit portfolio,” which currently totals almost US$3 billion, and defaulted More

Angolan consortium builds power plant in Sao Tome and Principe

An Angolan consortium plans to build a natural gas-fired and solar power plant in Sao Tome, the main island of the Sao Tome and Principe archipelago in West Africa, as part of an agreement signed with the country’s government, Angola’s secretary of state for Infrastructure and Natural Resources, said.

Secretary of State José Maria Fonseca told Portuguese news agency Lusa that the More

Portuguese-language tourism players take part in international meeting in Angola

The Angolan Association of Travel Agencies and Tour Operators (AAVOTA) in July is due to host an international meeting on business opportunities in the Community of Portuguese-speaking Countries, the association’s executive secretary said.

Augusto Pedro told Angolan weekly newspaper Expansão that the meeting would showcase the potential of domestic tourism of each member country with a view to attracting investments and promoting More

Angola’s Environment ministry publishes handbook on selective refuse collection

A handbook on selective refuse collection in Angola, which includes the methods to use and targets to achieve for recycling of glass, plastic, metal and other waste by 2022, was published Tuesday in Luanda by the Angolan Environment Ministry.

The handbook was launched during the 2nd International Congress on Waste Management in Africa and was considered to be one of the focuses More

Mining sector plans to become one of the biggest contributors to Angola’s GDP

The mining sector wants to become one of the biggest contributors to Angola’s Gross Domestic Product (GDP) and one of the biggest sources of employment, the Minister for Geology and Mining, Francisco Queiroz said Tuesday in Luanda.

According to the minister, who was speaking at the opening of the days to mark mine worker’s day, these two objectives are part of the More

Angolan shareholders of Unitel want to buy Portugal Telecom’s stake in the group

Angolan businesswoman Isabel dos Santos and the remaining shareholders of Unitel have informed Portugal Telecom that they want to exercise their right to buy the shares that the Portuguese group owns in the Angolan company, according to Portuguese newspaper Público.

Citing a letter sent to Portugal Telecom, the newspaper said that the Angolan shareholders argue that there has been a “violation of More

Angolan government approves diploma to make setting up companies easier

Approval by the Angolan government of a new diploma for creation of companies makes it easier to establish partnerships between national and foreign companes, the president of the National Private Investment Agency (ANIP) said Sunday in Luanda.

According to Angolan news agency Angop, Maria Luísa Abrantes said that the Angolan government had adopted a set of policies to drive the business sector.

“It More

Total awards more contracts for oil project in Angola

Three European companies have obtained contracts for nearly half of the US$16 billion that France’s Total group aims to spend on development of the Kaombo oil project in Angola, indicate statements released on Wednesday.

Italy’s Saipem announced it had obtained a US$4 billion contract to convert two tanker ships into floating production, storage and offloading (FPSO) platforms.

A consortium comprising Technip, quoted on More