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Portuguese businessman sells stake in Angola’s Banco BIC

Angolan businesswoman Isabel dos Santos and Fernando Teles, the chief executive of Angolan bank Banco BIC, bought the 25 percent stake owned by Portuguese businessman Américo Amorim in the bank, Portuguese daily newspaper Público reported.

The deal also involved a change in the shareholder structure of Banco BIC Portugal, as António Ruas, another shareholder, sold his 10 percent stake in the bank More

National Bank of Angola in keeps benchmark interest rates unchanged in October

The key interest rates in Angola will remain unchanged next October, according to the decision taken Monday in Luanda by the Monetary Policy Committee of the National Bank of Angola.

In a statement, the Commission said that the basic interest rate or BNA Rate will remain at 8.75 percent, and the interest rates on the marginal lending facility and absorption facility will More

Angolan bank Banco Sol wants to expand into Portugal and Brazil

Angolan bank Banco Sol plans to expand to Portugal and Brazil, said the bank’s chairman, for whom the immediate priority is to launch operations in Namibia in the first half of 2015 and then in Mozambique.

“We are considering opening a representative office in Portugal and then in Brazil, since the bank wants to follow the growth of the Angolan economy and More

Non-oil tax revenue in Angola posts growth of 14 pct since 2010

Non-oil tax revenues in Angola since the launch in 2010 of the Executive Tax Reform Project (PERT), have recorded compound annual growth of 14 percent, the secretary of State for Finance, Valentina Filipe said in Luanda Monday.

The Secretary of State also said that as part of the ongoing reform various actions are being carried out, such as drafting a proposal for More

Moçâmedes Railroad, Angola, receives three more locomotives

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The fleet of the Moçâmedes Railroad will be increased days with the arrival of three new locomotives acquired in the United States, the chairman of the rail management company said.

Daniel Quipaxe said that six locomotives were currently in service, which were recently acquired in China and India, and that the three new units would streamline “the process of movement and transport More

Assets of banks operating in Angola rise 12 pct in 2013

The value of assets of banks operating in Angola in 2013 stood at 6,621 billion kwanza (US$67 billion), an increase of 12 percent compared to 2012, according to a study by auditing and consulting firm Deloitte.

According to the study presented by Deloitte Friday in Luanda, which was the result of compilation of public information disclosed by banks operating in the market More

Tourist revenues rise by 50 pct in 2013 in Angola

Revenues from tourism in Angola in 2013 showed “a marked increase” of 50 percent rising to 119.100 billion kwanza (US$1.211 billion dollars), according to figures from Hospitality and Tourism Market Bulletin, cited by Angola’s Angop news agency.

According to the same figures, revenues grew by 39.697 million kwanza in real terms and 1.088 million foreign tourists came into Angola, 5 percent more More

Angola interested in companies that transform natural resources

Angola is interested in setting up businesses that help transform the country’s enormous potential of natural resources, to supply not only the national market but also the regional market, with 300 million potential consumers, said Angola’s Secretary of State for Industry.

Ngone Kiala Gabriel, who took part in the Congress of Agro-business Technologies and Services, which took place at the National Centre More