Sonangol expects to have a 10% share of national oil production in 2027
Angolan oil company Sonangol aims to achieve a 10% share of the nation’s oil production by 2027 and is working toward producing 80,000 barrels of […]
Angola
Gross credit to the Angolan non-financial sector grew 25% in August
Gross credit to Angola’s non-financial sector surged by 25% in August 2023 compared to the same period in 2022, reaching 7.3 trillion kwanzas (€6.9 billion), […]
Biden visits Angola from October 13 to 15 to strengthen economic partnerships
President Joe Biden will visit Angola from October 13 to 15, marking the first visit by a U.S. President to a Portuguese-speaking African nation. This […]
Angolan lawyers appeal to the Constitutional Court to stop law that “compromises” rights
The Angolan Bar Association (OAA) announced on September 23 that it has filed an appeal with the Constitutional Court (TC) seeking a constitutional review of […]
Angola’s diamond reserves estimated at over 700 million carats
Angola has diamond reserves estimated at 732 million carats, potentially worth $140 billion (125.7 billion euros) at an average price of $200 per carat, according […]
Angola received dividends of 6.4 ME in 2023, but paid out 204.8 ME
On September 11, Angola’s Finance Minister, Vera Daves de Sousa, highlighted a 197.8% increase in SEP (Public Business Sector) inflows compared to 2022 during the […]
Unemployment in Angola improved 0.2 points in the second quarter to 32.3%
The unemployment rate in Angola in the second quarter of this year was 32.3%, an improvement of 0.2 percentage points on the same period last […]
Angola’s food imports fell by 12.6% in the 2nd quarter of 2024
In the second quarter of 2024, Angola imported food products worth $445.3 million (€403 million), a decrease of 12.6% from the previous quarter and 9.2% […]
Angolan banks’ surplus reserves fell 12% in July
In July 2024, surplus reserves in the Angolan banking system dropped by 12.34% to 614.73 billion kwanzas (approximately 606 million euros), primarily due to reliance […]
Angolan government privatizes 15% of UNITEL’s share capital
The Angolan government plans to privatize 15% of UNITEL, the country’s largest telecommunications operator, with 2% of these shares reserved specifically for the company’s employees […]