Economy and business

Miners unearth rare pink diamond in Angola, believed to be largest found in 300 years.		Plan de développement industriel Angola 2025 pour consultation.		Angola Investment Guide Low Res English

 UNCTAD launches new index for countries to better measure economic potential
Countries can use the new generation Productive Capabilities Index to look beyond gross domestic product as a metric for economic progress.
 
UNCTAD launched on 20 June a new generation of the Productive Capabilities Index (PPI) to help countries make more accurate diagnoses and measurements of their economic performance.
This in turn can shape more effective policies and their implementation. The PCI measures countries' capacities to produce goods and provide services, which are key to international trade and global production value chains.
The CIP is available through a dedicated online portal with publications, manuals, resources and tools. It maps the productive capacities of 194 economies and provides a better measure of development than other traditional benchmarks such as gross domestic product (GDP). It is multidimensional and measures inputs and economic potential rather than outputs.
Source: learn more: https://unctad.org/news/unctad-launches-new-index-countries-better-measure-economic-potential

 Sonangol privatisation may end in 2026
 
The chairman of the board of the Institute for Asset Management (IGAPE), Patrício Vilar, re-stated Wednesday in Luanda that Sonangol's privatisation could be concluded by 2026.
"It will certainly not be this year, but within the period of the second phase of the privatisation programme, which ends in 2026," he said, noting that Sonangol was a group of companies with several business units, activities, subsidiaries and holdings.
Source: https://www.angop.ao/en/noticias/economia/privatizacao-de-activos-da-sonangol-inicia-em-2024/

USA: João Lourenço starts his journey in Washington
Source : https://www.angop.ao/en/noticias/politica/eua-joao-lourenco-inicia-jornada-em-washington/
The President of the Republic of Angola, João Lourenço, started on Monday in Washington his four-day working day, whose high point will be the participation in the US-Africa Summit, called by the US counterpart, Joe Biden.
The Angolan Head of State, who has been in the US capital since Saturday night, is scheduled to meet today with the Administrator of the United States Agency for International Development (USAID), Samantha Power.

EUACP wants to improve market access
Source : https://www.angop.ao/en/noticias/politica/oeacp-quer-melhorar-acesso-aos-mercados/
Luanda - The Organization of African, Caribbean and Pacific States on Friday in Luanda reaffirmed its collective commitment to ensure continued access to traditional markets and explore new opportunities for the private sector.
According to the Luanda Declaration, released at the end of the summit, the commitment aims to strengthen trade relations and stimulate job creation, growth and investment among the states of the organization.
The EACP, which will be led by the Angolan president, João Lourenço, over the next three years, pledged to establish alliances, with traditional and strategic partners, with a view to a coordinated approach in multilateral trade negotiations on market access.

ECONOMY           
Angola improves business environment
Angola's economy may see 2.7 percent rise this year
Source: https://www.angop.ao/en/noticias/economia/eua-angola-melhora-ambiente-de-negocios/
Over 1,000 credit operations for the productive sector have been approved in Angola, between 2019 and 2022, as part of the strategy to improve the business environment, the Minister for the Economy and Planning, Mário Caetano João said Sunday in Washington, United States.
According to the Minister for the Economy and Planning, Mário Caetano João, who was speaking to the press about the US-Africa Leaders' Summit, to be held from 13 to 15 of this month, in 2019 the country had just 30 to 40 credit operations for the production sector, figures that have increased significantly in three years

Angola holds 1st International Conference on "Languages in education and teaching
Source: https://www.angop.ao/en/noticias/educacao/angola-promove-i-conferencia-internacional-sobre-as-linguas-na-educacao-e-ensino/
Luanda -Angola's Minister of State for Social Affairs, Dalva Ringote Allen, on Monday announced the holding of the 1st International Conference on "The languages of Angola in the education and teaching system.
The event aims to share experiences and collect subsidies that will contribute to the definition of a strategy to be adopted in the process of inserting the languages of Angola, Bantu and Khun, into the school curriculum.
According to Dalva Ringote Allen, who was speaking at the opening of the 2nd CPLP Seminar on Portuguese as a second language, the event is part of the development of the country's language policy and the transformation of education.
According to the Minister of State, the insertion of the languages of Angola in the school curriculum may grant, depending on the development of studies, the right to study in the mother tongue, so that education may be meaningful, integrative, equitable and of quality for all.

Angola will take advantage of its presence at the Annual Meetings of the World Bank (WB) and International Monetary Fund (IMF), which have been held since Monday, 10, in the US capital, to secure financing for the National Grain Production Plan (Planagrão).

The International Monetary Fund (IMF) confirms its growth forecast for Angola, this year, of around 2.9 percent, or 0.2 percentage points above the Angolan government's forecast of 2.7 percent.

The consultancy Fitch Solutions believes that the Angolan economy will grow 3.5 percent this year, the fastest pace since 2014, but will then slow to 1.8 percent in 2023 due to the drop in oil prices.

MINING ECONOMY
131-carat diamond discovered in Lulo mine A 131-carat diamond has been discovered in the Lulo mine in northern Lunda-Norte province, said on Wednesday the National Diamond Company (ENDIAMA).
https://www.jornaldeangola.ao/ao/noticias/descoberto-diamante-de-131-quilates-na-mina-do-lulo/
Jornal de Angola Online /21/09/2022
The Lulo alluvial mine is operated by Sociedade Mineira do Lulo, made up of Angolan companies ENDIAMA E.P (32 percent) and Rosas & Pétalas (28 percent), as well as Australia's Lucapa Diamond (40 percent).
According to the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, cited in the note "Angola has proven, once again, its enormous diamond potential.
"I am absolutely convinced that with discoveries of this nature we will be, in the near future, among the biggest diamond producers in the world," Diamantino Azevedo noted.

ANGOLA HAS THE SIXTH LAREST SHARE AMONG 10 COUNTRIES
Angola is, for the month of October, with a quota of 1.52 million barrels/day, the sixth largest of a total of 10 member countries and the ninth, if the targets set for a group of 20 OPEC and non-OPEC, a group called OPEC+, which is led by Russia and Saudi Arabia.
https://www.jornaldeangola.ao/ 
07/09/2022
 
 

© Photography by: Dr
According to a September 6 announcement by the Organization of Petroleum Exporting Countries (OPEC), in view of the current fundamentals of the oil market and the consensus on current prospects, OPEC and the non-OPEC oil producing countries decided to reaffirm the decision of the 10th ministerial meeting of 12 April 2020, and subsequently endorsed at subsequent meetings, including the 19th OPEC and non-OPEC ministerial meeting of 18 July 2021.
It was also a decision of the OPEC+ group meeting to revert to the production level of August 2022 for the participating OPEC and non-OPEC countries for the month of October.
The group recalls that the above mentioned adjustment of 0.1 mb/d in the production level was intended only for the month of September.
Accordingly, they request the group chair to consider convening an OPEC and non-OPEC Ministerial Meeting at any time to address market developments, if necessary.
"Reiterate the critical importance of adhering to full compliance and the compensation mechanism. Compensation plans must be presented in accordance with the declaration of the 15th OPEC and non-OPEC Ministerial Meeting and hold the 33rd OPEC and non-OPEC Ministerial Meeting in October 5, 2022", reads the final communiqué of the meeting.

Energy: Angola overtakes Nigeria as the largest oil producer in Africa in August 2022.
https://www.africafinancialtimes.com/energie-langola-depasse-le-nigeria-en-tant-que-le-plus-grand-producteur-de-petrole-en-afrique-en-aout-2022/

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 ENGLISH  (news from 7 September 2022)

Angola has sixth largest quota among 10 countries For the month of October Angola has a quota of 1.52 million barrels per day, the sixth largest of 10 member countries and the ninth if we consider the targets set for a group of 20 OPEC and non-OPEC producers, a group known as OPEC+, which is led by Russia and Saudi Arabia.

Fonte : https://www.jornaldeangola.ao/ao/noticias/angola-fica-com-a-sexta-maior-quota-entre-10-paises/

ENGLISH (news from 7 September 2022)

Trade with other countries records surplus of Usd 3.5 billion The current account of the balance of payments recorded a surplus of Usd

3.5 billion in the second quarter, about 10.8 percent of Gross Domestic Product (GDP), a 26.7 percent decrease from the previous quarter.

Fonte: https://www.jornaldeangola.ao/ao/noticias/trocas-comerciais-com-o-exterior-registam-saldo-de-usd-3-5-mil-milhoes/

ECONOMY
New 160-carat diamond discovered in Lucapa
Source: Jornal de Angola Online, with Lusa news agency A diamond over 150 carats was discovered in Lucapa, in the Angolan province of Lunda Norte, announced today the Lucapa Diamond Company, reports Agência Lusa.

SOURCE:
https://www.jornaldeangola.ao/ao/noticias/novo-diamante-de-160-quilates-descoberto-no-lucapa/

Angola's economy is growing. After four decades of wars (of independence and civil), economic growth is blowing away from 2002: the growth rate averages 9% between 2002 and 2008. In 2014, Angola stands out as 5th economic power of Africa behind Nigeria, South Africa, Egypt and Algeria respectively1. On January 1, 2007, Angola became a full member of OPEC. In 2016, hit hard by the collapse of oil prices, Angola is resigned to appeal to the International Monetary Fund (IMF). At $ 39 per barrel, the state coffers are empty. Petrodollars no longer fill the coffers of the Central Bank. The decline in foreign currency liquidity and the economic slowdown are increasingly affecting the banking system, which is highly dependent on the oil sector. Bankruptcies, especially in the latter, are multiplying. The growth rate is positive in 2016 (2%), but much lower than the 20.2% growth in 2006, 24.4% in 2007 and 17% in 2008.

Angola's main trading partners are the United States, China, the European Union, and India.

In 2004, exports reached $ 10,530,764,911. The majority of Angolan exports are petroleum products (92% in 2004). $ 785 million worth of diamonds, or 7.5% of exports, were sold abroad that same year. Almost all Angolan oil goes to the United States (526,000 barrels per day in 2006), making Angola the eighth largest supplier to the United States. In the first quarter of 2008, Angola became the largest exporter of oil to China. Remnants of oil exports to Europe and Latin America. American companies account for more than half of investments in Angola, including Chevron-Texaco. The United States exports industrial goods and services to Angola, mainly oil and mining equipment, chemicals, airplanes, and food, while importing mostly oil.

In 2007, trade between Angola and South Africa was over $ 300 million. Since the 2000s many Chinese have settled to build business7.
The second largest international investor is Portugal, with 100,000 immigrants, behind popular China. On a cultural level, Portugal must also face the competition of Brazil also lusophone8. For the first three quarters of 2010, trade between China and Angola reached $ 19.8 billion9. Angola is also China's largest trading partner on the African continent.

   Angola Investment Guide Low Res English 2021.