Will digital banking make the traditional bank branch obsolete? Probably not. But it is already […]
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Angola currently has the sixth-largest stock of infrastructure on the continent after recording Africa’s fastest […]
Given the challenges faced by the Angolan economy, it’s important that banks move to adapt […]
Africa Brief: New Swazi airport stands idle as citizens count cost; Standard Bank new rules put Angolan unit in black; and more…
SWAZI King Mswati III seems oblivious to descriptions of his new R3 billion airport as a “vanity project”. Opening the facility this week, he named the airport after himself.
E-commerce is fundamentally tied to the development and expansion of internet-based technologies. As such, e-commerce market size in a given country, is dictated by the depth of penetration and widespread access to the internet in that country. Unsurprisingly, e-commerce is substantially bigger in developed countries.
Africa Brief: Angola first daughter to enter grocery retail, Clover to milk opportunities in the rest of Africa and more …
Portugal’s biggest retailer Sonae plans to open five food hypermarkets in Angola, in partnership with Isabel dos Santos, the daughter of the country’s president, with the first scheduled for 2015, a company board member said last Thursday.
Africa Brief: Fewer dollars as Angolan oil firms pay some suppliers in kwanzas, Food retailers’ premium drops to three-year low and more…
A foreign exchange law in Angola has halved the value of dollars auctioned by the central bank since June as the country considers letting its currency trade on international markets.
The rise of the Angolan economy, over the past 10 years, has been nothing short of spectacular. From an economy plagued by hyperinflation and suffering from the consequences of decades of civil war in the early 2000s; today, the southern African economy is one of the fastest growing in the world and continues to attract billions of dollars in foreign investment.
The hydrocarbon sector remains Angola’s main engine of economic growth, accounting for more than 96 percent of exports, 80 percent of government revenue, and in excess of 60 percent of GDP. Accordingly, any volatility in oil production and global oil prices tends to have a direct influence on the performance of the economy.
Angola has delayed plans for the start of stock-exchange trading by a year to 2016, with a futures and commodities market in Africa’s second-biggest oil producer set to open a year later. Angola expects its stock exchange to have a market value of 10% of gross domestic product within 18 months of its startup, he said. Angola’s largest banks, which include Banco Angolano de Investimentos and Banco de Poupanca e Credito, as well as cellphone companies Unitel and Movicel Telecomunicacoes, are expected to list on the exchange.
KPMG Angola works with some of the most prominent companies, both private and public, in every relevant economic sector, providing auditing, tax, accounting, business advisory, financial advisory and IT advisory services. KPMG Angola’s main assets are its people, in-depth experience and reputation and the firm is committed in contributing to Angola’s economic and social development, through its services, its focus on people and development of knowledge, and commitment to the communities.
The West African nations of Burkina Faso and Niger expressed satisfaction yesterday after the International Court of Justice set-tied a border dispute that dated back to French colonial times. In a highly technical ruling, the International Court of Justice in The Hague demarcated the territory of the two countries in an area that stretched for about 380km, more than half the length of their border.
Coal / Grindrod and Mozambique’s Maputo Port Development Company (MPDC) plan to invest $1.7bn over the next five years to upgrade ports in the country as demand grows, MPDC said on Friday. Capacity would be tripled at the Maputo and Matola ports to 50-million tons by 2020 from 15-million tons. Investment of $355m this year and next year had been approved to boost capacity at the Matola port terminal. The coal terminal will be handling 7.2-million tons by next year, from 6-million tons.
Africa Brief: Angola: investment in its minerals, $1bn Eurobond issue, Nigeria, South Sudan and more
Angola, the world’s fifth-largest diamond producer, had cut mine taxes and would spend billions of dollars to attract investment into mineral deposits. The new law is very clear with lots of security for investors, which gives them certainty, transparency and guaranteed mining rights. Angola wanted to diversify its earnings away from the crude oil and diamonds that made up almost all its. Companies with ties to Israel’s LR Group had projects to mine Angola’s estimated 400 million tons of phosphorus and make fertiliser. Australian-listed Minbos Resources had an equal share of the Cabinda Phosphate Project with Petril Projects, a subsidiary of LR Group, and planned to start production in 2015.
Angola, which is Africa’s second-largest oil producer after Nigeria, plans to raise $lbn through a Eurobond issue this year. Angola’s economy expanded 7.4% last year, thanks to a recovery in oil output after technical problems, and the government forecasts growth of 7.1% this year. Other African countries are also seizing the opportunity. Kenya plans to sell a debut $lbn Eurobond in September, Nigeria is planning its second issuance and Ghana is mulling refinancing one and issuing another.
Africa Brief: South Africa, investment destination, Africa Barrick Gold, Angola’s interest rate and more
SA remains the most attractive country in Africa in which to do business despite serious knocks to investor confidence during the past few months, two separate surveys showed yesterday.
SA moved up a notch to rank 14th out of 27 countries in a global emerging markets opportunity index, and remains the highest rated economy on the African continent, according to research compiled by business services company Grant Thornton.
Kenya plans to construct a new $300 million (R2.6 billion) fuel pipeline from the port of Mombasa to Nairobi, to replace an older one, and possibly extend it to Uganda. Kenya Pipeline Company said that it was inviting proposals for the design of the 450km pipeline from east Africa’s trade gateway to feed land-locked growing economies, which rely on Mombasa for fuel imports. “The new pipeline is designed to meet petroleum products demand for the region up to the year 2044,” the company said.
As in most parts of the world, football is the most popular sport across the […]
Newswire Bloomberg warned some 12 months ago that a dramatic devaluation of the South Sudanese […]
The World Bank published its latest ‘Africa Pulse’ report on September 29. In it the […]
Why the CST is a bad idea At first glance, the introduction of this tax […]
Angola currently faces a challenging economic environment after a notable period of development, namely due […]
Regulatory Pressure Index In a world struggling for growth, Africa stands out as the rate […]
By Christie Viljoen The announcement by Barclays Plc that it will sell down its stake […]
In 2Q2014, Nigeria emerged as Africa’s largest economy with an estimated GDP of $479 billion, […]
What does the 4th Industrial revolution mean for African businesses? Technology is core to the […]
Many of the large gains in FDI inflows to Africa during the five year period […]
International oil prices have plummeted by almost 50% since its peak of around US$115/bbl in […]
And we expect that digital solutions will begin to have a notable impact on mobile […]
Africa is currently home to one billion people, presenting a massive potential consumer market. Furthermore, […]