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Power station in Mozambique resumes operation after increasing capacity

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The hydroelectric production capacity of the Mavuzi plant, in the central Mozambican province of Manica, has increased from 25 to 42 megawatts following completion of a modernisation project officially inaugurated on Monday, Mozambican state news agency AIM reported.

The work, the tender for which was launched in 2010 and work was launched in November 2013 by a Franco-Norwegian consortium made up of More

World Bank supports agricultural development in three provinces of Angola

The World Bank expects to apply about US$70 million in Angola in agricultural projects aimed at reducing poverty, the World Bank’s Angolan representative said in Cuito.

The funding will be provided through the Market-oriented Smallholder Agriculture Project (MOSAP II) of the World Bank, said Clara de Sousa, adding that funding would be available for commercial agriculture.

The representative of the World Bank in More

Namibe Academy of Fisheries in Angola due to open soon

The Academy of Fisheries and Marine Sciences, located in Angola’s Namibe province, will be inaugurated soon, said on Monday in Luanda the minister of Fisheries of Angola, speaking at a seminar on “Economy of the Sea, challenges, opportunities and risks.”

During the seminar organised by the Ministry of Fisheries in cooperation with the University of Aveiro in Portugal, Victoria de Barros Neto More

Angola’s BPC bank has new board of directors

Shareholders of Angolan bank Banco de Poupança e Crédito (BPC) decided to appoint a new board of directors chaired by economist Ricardo D’Abreu and to approve a capital increase of 90 billion kwanzas (US$540 million), the bank said in statement issued on Monday in Luanda.

The shareholders also decided during the general meeting held last Friday to dismiss the previous board members More

Group of six banks in Angola will be entitled to 80% of foreign currency sold in the primary market

The National Bank of Angola will select a group of five or six commercial banks that will be provided with 80% of the foreign currency that the central bank places on the primary market, according to the first five measures of a proposal on the “Adjustment of the operational framework of the foreign exchange market.”

The five or six commercial banks selected More

Macau government maintains prudent application of financial reserve

The government of Macau will continue to implement the principles of safety, efficacy and stability in the management of investments of the territory’s financial reserve, the Secretary for Economy and Finance said on Monday.

Leong Vai Tac also said that the income from investments in debt securities were once again the largest source of income for the financial reserve, and those made More