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Bank of South Korea funds reconstruction of road in Mozambique

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Reconstruction of the road between Nampula and Nametil, over a distance of 72 kilometres, will cost US$75.4 million, the National Roads Administration (ANE) of Mozambique said Friday in Maputo.

Agostinho Notece of the ANE said during a business and investment forum held in the city of Nampula that the project would be financed with a loan from the South Korea Import-Export Bank More

Fitch Ratings keeps Mozambique’s credit rating at “junk” level

Fitch Ratings kept its “CC” rating on Mozambique’s long term credit in local currency and the short term rating in foreign currency at “C”, which means the country’s debt is not considered to be investment quality, the agency said.

In a statement issued on Friday, Fitch said it had also given a new rating of “C” on short term debt in local More

Angolan coffee attracts businesspeople from Brazil

A delegation of businesspeople from Brazil from the coffee processing and marketing sector are visiting Angola’s Kwanza Sul province, in order to identify possible partnerships, state newspaper Jornal de Angola reported.

The delegation, led by businessman André Skaff, held a meeting with the governor of Kwanza Sul province, Eusébio Teixeira and administrators of the coffee producing municipalities of Amboim, Seles, Conda, Libolo, More

Hotel occupancy rates in Angola falls to 25%

The occupancy rate of hotels in Angola has fallen to 25% in the last two years due to the economic crisis facing the country, said Friday in Luanda the general secretary of the Ministry of Tourism.

On the sidelines of the inauguration of the headquarters of the Association of Hotels and Resorts of Angola, Paulo Manuel King Júnior added that the number More

National Bank of Angola wants to improve scheduling of currency sales

The National Bank of Angola (BNA) is working with commercial banks operating in the country to draw up a better schedule of sales of foreign currency, reported the Angolan central bank in a statement Friday.

Improved scheduling of the sale of foreign currency is intended, according to the BNA, “to replace in a gradual, planned, organised and prudent way the external resources More

Macau receives 14.7 million visitors from January to June

Macau received over 14.7 million visitors from January to June, a number that represents a marginal increase of 0.1% year on year, reported the Statistics and Census Bureau.

The visitors who entered Macau in the first half of the year, with a monthly average of 2.46 million people, mostly came from mainland China (9.74 million or 66% of the total), followed by More