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UAE is largest buyer of Angolan diamonds


About 95 percent of the diamonds mined in Angola in July were sold to the United Arab Emirates (UAE), which was followed by Hong Kong with 3 percent and Belgium and Israel, both with 1 percent, the Ministry of Geology and Mines said.

The statement also said that over 865,000 carats of diamonds were extracted and sold More

Australia’s Lucapa Diamond finds “special” diamonds in Angola

The Lucapa Diamond Company has extracted more large diamonds described as “special” at its Lulo mining project in Angola, according to a market filing published by the Australian Stock Exchange.

The Australian company said it had extracted nine “special” diamonds of over 10.8 carats each in the first two weeks of operation of that mining concession.

Amongst More

More than 300 Angola Investe projects receive public guarantee

Three hundred and three projects funded by commercial banks under the Angola Investe programme have received public guarantees, said Wednesday in Luanda the chief executive of the Credit Guarantee Fund, Manuel Passos.

The chief executive said that those projects, which have been approved since 2013, obtained funding of 59 billion kwanzas (US$466.7 million) and credit guarantees of More

Angola has new Securities Code

The Securities Code (CodVM) – Law 22/15 – has been in force in Angola since 31 August, the date of its publication in the Angolan Republic Gazette to ensure legal security and the confidence of issuers and investors, Angolan news agency Angop reported.

The new law, approved by the Angolan parliament on 21 April, replaces the Securities Law More

First foreign currency sale by National Bank of Angola to exchange bureaux

The National Bank of Angola (BNA) recently carried out the first auction sale of foreign currency directly to exchange bureaux, with transactions amounting to US$10 million at the average rate of 138.245 kwanzas per dollar, the central bank announced.

A statement posted on the Angolan central bank’s website indicated that in the auction the exchange rates used in transactions ranged between 145 More

Foreign investment in Angola reaches US$600 million from January thru July

Foreign investment in Angola amounted to US$600 million in the first seven months of 2015, the head of Angola’s National Private Investment Institute (ANIP) announced before a gathering of personnel in Luanda.

Maria Luísa Abrantes specified that 406 companies in nine provinces had been visited from January through July, versus 502 companies visited during the whole year of 2014, indicates the speech More

More than US$2.3 billion in trade between Brazil and Angola in 2014

Trade between Brazil and Angola involved more than US$2.3 billion in 2014, Brazil’s ambassador in Luanda, Norton de Andrade Mello Rapesta, said on Tuesday in the Angolan capital.

Official 2014 figures from the Ministry of Development, Industry and Foreign Trade show that Angola exported to Brazil products worth US$1.261 billion during that year while importing Brazilian merchandise worth US$1.109 billion.

Bilateral trade figures More

South African insurance group negotiates purchase of assets in Angola

Sanlam Emerging Markets, a subsidiary of South Africa’s Sanlam group that focuses on emerging markets outside South Africa, is negotiating the purchase of assets in Angola, the company’s director said on Monday.

Heinie Werth told Reuters financial agency that Angola has “always been on the company’s radar.” The group aims to gain a foothold there by purchasing assets and the respective “negotiations More