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Macao magazine



Angola sets quotas for imports of the basic basket of goods

The government of Angola has set a maximum quota for the import of products included in the basic basket of goods in 2015 at around 2 million tons, including cooking oil, flour, rice and sugar, according to a joint executive decree dated 23 January.

The decree, signed by the Ministers of Finance, Agriculture, Fisheries, Industry, Commerce and Transport, together with the National More

Portuguese company manufactures and assembles river boat docks in Angola

In December Lindley concluded the first phase of the supply and installation work of river piers along the Kubango River in Angola, the company said in a statement sent to Macauhub.

The Kubango River, which marks the border between Angola and Namibia, springs in the Angolan highlands and flows southeast into the Okavango Delta (Botswana), the largest inland delta in the world.

The More

Credit rating agencies expect Angola to post lower economic growth

Fitch Ratings expects Angola’s economy to post growth of just 3 percent this year and for oil prices to force a downward review of the country’s credit rating, said the director of the sovereign debt analysis group.

Carmen Altenkirch also told Portuguese news agency Lusa that “economic growth in Angola will certainly be less than estimated because the oil sector will contract More

Australia’s Lucapa Diamond Company extracts 266.7 carats of diamonds in Angola

Diamond mining in the Lulo alluvium, in the Angolan province of Lunda Norte, began in January with production of 266.7 carats, Australia’s Lucapa Diamond Company said in a statement recently.

Preliminary work in block 29 of the Lulo concession was “successfully” completed and in just eight days of operation 17.33 carats of diamond per 100 cubic metres of rock have been extracted, More

Power station in Cabinda, Angola, undergoes emergency expansion work

The government of Angola has spent US$164 million in an emergency intervention to increase the production capacity of the Malembo thermal power station, in the enclave of Cabinda, by 100 megawatts according to a presidential order.

Called “emergency intervention to increase the capacity of the Malembo thermal power plant,” the project involves the supply and installation of a GE TM 2500 mobile More

Bank from Nigeria wants to expand to Angola

The United Bank for Africa Plc plans to expand to Angola and South Africa as the Nigerian economy, its main market, has been affected by the fall in oil prices, said the bank’s chief executive.

Phillips Oduoza, CEO of the Nigerian bank with operations in 19 African countries, told financial news agency Bloomberg that the board of directors was preparing an expansion More

Australia’s Lucapa Diamond secures funding to mine diamonds in Angola

Australia’s Lucapa Diamond Company has secured a loan of US$15 million to modernise its diamond mine in the Lulo region of Angola’s Lunda Norte province, the company said in a recent statement.

The company also said the funding would focus on a modernisation plan to increase processing at the mine from 150 tons per hour and to improve reception of wet gravel, More

Angola’s economy expected to see moderate growth in 2015

Angola’s economy is expected to post growth of 5.2 percent this year, just over half the official government forecast, which predicted the economy would expand by 9.7 percent, according to unit of Economic and Financial Studies unit of Portuguese bank BPI.

In the extended January study of Angola’s economy, the BPI analysts predict that Angola’s economy will generate more than a third More