Sunday, August 1We Break the News

Tag: Angola

Angola and OPEC are a Strong Pillar of Market Stability

AFRICA
JOHANNESBURG, South Africa, July 30, 2020/ -- The OPEC-Angola discussions that took place last week is a major pillar of the strong dialogue and cooperation between OPEC and African producing nations.  The Chamber (EnergyChamber.org) welcomes these discussions and encourages more collaboration as Angola and others will benefit from market stability. Such a dialogue is key for compliance with the OPEC global production cuts deal of April, to which all of OPEC’s African member countries have agreed to. Angola’s support for global market stability and energy cooperation is significant and gives confidence to operators and future investors seeking to do business in Africa.“In December 2018, OPEC Secretary General Mohammed Sanusi Barkindo made a historic visit to Angola and committed to wor...

African Development Bank commits $1.04 million towards two COVID-19 research projects in Angola

AFRICA
LUANDA, Angola, July 24, 2020/ -- Funds from the African Development Bank’s (www.AfDB.org) ongoing Science and Technology Development Project have been committed towards two research projects to mitigate the novel coronavirus (COVID-19) in Angola. The Science and Technology Development Project which is being executed by the Ministry of Higher Education, Science, Technology and Innovation, aims to contribute to Angola’s economic diversification through scientific and technological research, and by promoting an innovative enabling environment. The Angolan Government intends to promote research and enhance capacity in the health sector, against the backdrop of the COVID-19 pandemic.The Epidemiological, Clinical and Laboratory Profile of COVID-19 in Angola and the Building COVID Capacity i...

BUSINESS: Angola May Become Africa’s 4th Biggest Economy

AFRICA, Business, TECHNOLOGY
Luanda — Angola may become, until 2050, the fourth largest economy in Africa, according to projections from the Institute for Studies and Security (ISS), based in Pretoria, South Africa. According to ISS report, the country will have, until the aforementioned period, a nominal GDP of USD 994 billion, behind Nigeria, South Africa and Egypt. The study points out that Angola may surpass Morocco and Algeria, if it overcomes challenges related to good governance, access to quality infrastructure, education and primary health care. Titled "Scenarios for the future of Angola 2050 beyond oil", the 46-page report presents five sectoral scenarios and predicts that the Angolan economy will grow seven times more than the current USD 140 billion. Drafted last March, without taking into acc...

Angola Committed to Meeting Energy Objectives Amid COVID-19

AFRICA
CAPE TOWN, South Africa, June 26, 2020/ -- Africa Oil & Power (http://www.AfricaOilandPower.com), the African Energy Chamber and the U.S.-Angola Chamber of Commerce united to present, ‘Powering Forward: The Pathway to Grid Stability, Increased Capacity and a Diversified Angolan Economy,” on Thursday; The webinar addressed how Angola can continue to prioritize its development of national transmission and distribution capacities in the long-term, with a view toward increasing electrification, job creation and economic growth; Panelists included Maria da Cruz, President & CEO of the U.S.-Angola Chamber of Commerce; Paul Ghiotto, Deputy Political-Economic Chief/Energy Officer, Political-Economic Section, U.S. Embassy Luanda and Frederico Martins Correia, Energy, Resources & Indust...

Government’s commitment to diversify Angola’s economy continues to offer opportunities for investors in the power sector

AFRICA
JOHANNESBURG, South Africa, June 16, 2020 --Notwithstanding the ongoing crisis in the oil sector globally that has led to significant drops in government revenue, the Angolan Government has said it remains ever more committed to the diversification of the country’s economy away from oil revenue dependence. The government’s push to increase production nationally and hence reduce imports, especially food imports, consists of a number of initiatives that include major investments in power infrastructure. The development of the power industry, with the aim of providing cheap, reliable and affordable energy for both industry and the population is a key pre-requisite for the development of Angola’s productive sector. According to H.E Joao Baptista Borges, Angola’s Minister of Energy and W...
ANGOLA: Lourenco vows to recover stolen funds hidden abroad.

ANGOLA: Lourenco vows to recover stolen funds hidden abroad.

AFRICA
Last month, Angola indicted Isabel dos Santos, the 46-year-old billionaire daughter of ex-president Jose Eduardo dos Santos, for a host of top-level financial crimes, including money laundering and influence peddling. “With the support of everyone, civil society and specialised international institutions, we are implementing initiatives to combat money laundering, as well as to recover assets that have been set up with public resources… (or) been illegally transferred… outside the country,” he said. We are deepening the foundations of the rule of law, where there is no impunity for acts of corruption and for practices of nepotism and influence peddling. He said his government was determined to fight corruption in the graft-tainted oil-rich country. “We are deepening t...
ANGOLA: The dos Santos scandal, a test for the fight against corruption in Angola.

ANGOLA: The dos Santos scandal, a test for the fight against corruption in Angola.

AFRICA
The case of Isabel dos Santos is a major test of Angolan President Joao Lourenço’s determination to fight corruption in an oil-producing country where one third of the population lives below the poverty line. Isabel dos Santos, 46, daughter of former president José Eduardo dos Santos, is accused of fraud, embezzlement and money laundering by her country’s judiciary, which is demanding her extradition. She denounces “a political attack”. The billionaire, nicknamed “The Princess,” who lives mainly between London and Dubai, is accused of “siphoning off Angola’s economy” and fraudulently accumulating a fortune estimated at 2.1 billion dollars (1.8 billion euros), according to the findings of an investigation by the International Consortium of Investigative Journalists (ICIJ), ...
AFRICA: Africa’s richest woman Isabel dos Santos ‘ripped off Angola’

AFRICA: Africa’s richest woman Isabel dos Santos ‘ripped off Angola’

AFRICA
Isabel dos Santos got access to lucrative deals involving land, oil, diamonds and telecoms when her father was president of Angola, a southern African country rich in natural resources. The documents show how she and her husband were allowed to buy valuable state assets in a series of suspicious deals. Ms Dos Santos says the allegations against her are entirely false and that there is a politically motivated witch-hunt by the Angolan government. The former president's daughter has made the UK her home and owns expensive properties in central London. She is already under criminal investigation by the authorities in Angola for corruption and her assets in the country have been frozen. Now BBC Panorama has been given access to more than 700,000 leaked documents about the...
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