Category: Business

Luanda – The Governor of Central Bank of Angola (BNA), José de Lima Massano, said Thursday in Luanda that Angola is preparing the appropriate legal instruments and targeted reports, for virtual financial assets and their service providers.

“Considering the need to establish rules on Cyber Security, the BNA published, two years ago, Notice 8/2020 on this matter and adoption of cloud computing, as well as the terms and conditions for contracting data processing and storage services,” he said.

Jose de Lima Massano added that it was also intended to define the mechanisms for providing service and information regarding any situations with a significant impact on the stability of the Angolan financial system.

The governor made these statements during his opening speech at the conference on “Integrity, ethics and cybersecurity,” having admitted the growing importance of operational risks associated to information and communication technologies.

“The irreversibility of this movement of decentralized finance and the increasing use of assets are at the basis of several central banks and other regulatory bodies have initiated a process with the aim of protecting financial systems and their consumers,” he said.

Legal instruments and reporting

The Central Bank of Angola is part of that process, so in 2019 it published Notices that brought to the national financial sector new requirements in corporate governance and internal control models.

Source: Angola Press News Agency

Luanda – The International De Beers is to invest USD 33.2 million for the initial prospection of primary and secondary diamond deposits in Muconda (Lunda-Sul) and Lumboma (Lunda Norte) Concessions, within the framework of contracts signed, this Wednesday, with Endiama

After 10 years out of Angola in 2012, DE BEERS returns to the country and will hold 90% of the aforementioned concession´s social capital as Endiama with take care of the remaining 10%.

The two Mining Investment Contracts signed for a period of 35 years, of which five are reserved for prospecting, were signed by the CEO of De Beers Exploration Holdings Limited, via the South African diamond branch, Bruce Cleaver and by the Chairman of the Board of Administration of Endiama-EP. Jose Canga Junior.

Source: Angola Press News Agency

Luanda – Angolan entrepreneurs will be able to export agricultural products, beverages and others to the United States of America market, through the mediation of the United States Agency for International Development (USAID).

This information was provided today by the Acting Minister Counselor of the US Embassy in Angola, Christopher Hattayer, noting that the United States had been supporting efforts to increase economic growth in Angola since 2021 via the Southern African Trade and Investment Hub (USAID TradeHub).

Speaking at an event to publicize the activities of the USAID Trade Hub, the US diplomat said that as well as the US market there were also mediation activities to boost exports of Angolan products to South Africa.

Exports of Angolan products to the US market will be facilitated by the African Growth and Opportunity Agreement (AGOA), where national products must meet several requirements to become eligible, said the US diplomat.

According to Christopher Hattayer, with the tools made available via the USAID TradeHub, Angola will have greater access to technology, increasing support for exporters to access trade facilitation services that allow them to export to South Africa and the United States of America.

Source: Angola Press News Agency

Luanda – The strengthening of investment by Portuguese economic agents in Angola was under consideration Tuesday in Luanda during an audience that the President of the Republic, João Lourenço, granted to the Portuguese Foreign Minister, João Gomes Cravinho.

At the end of the audience, the Portuguese minister told the press that he was looking to extend bilateral investments in the areas of tourism, energy and agriculture, where Angola has a great potential.

João Gomes Cravinho considered it fundamental to work to intensify economic cooperation, despite what he called “Covid-19 constraints” aggravated by the “conflict between Russia and Ukraine.

The Portuguese leader said that the economic relationship between Angola and Portugal was favoured by the fact that the problem of the Angolan State’s debts to Portuguese companies had been overcome over the last few years.

He also praised the work of the Angolan government to improve the country’s economic conditions, which has been recognised by international agencies.

Mobility

In terms of visas for Portugal, the Portuguese minister said that the situation had improved since the signing of the protocol to facilitate visas.

“The numbers show that there is greater agility, but we have to improve. One of the objectives of my visit is to learn about the problems regarding the granting of visas and find solutions,” he expressed.

This is the first visit abroad by the Portuguese Prime Minister since the new Portuguese government took office.

João Gomes Cravinho explained to the press that his working visit to Angola has both a symbolic and a practical dimension. He stressed that it was important to signal this partnership at the beginning of his mandate as Minister of Foreign Affairs.

Angola and Portugal established diplomatic relations on 9 March 1976.

Portugal is one of Angola’s main trading partners, with a strong presence in the construction, banking and food and drink export sectors.

The establishment of diplomatic relations was preceded by the opening, by Portugal, in January 1976, of its Consulate General in Luanda.

Angola is one of the main investors in Portugal, with activities ranging from energy to telecommunications and banking.

Source: Angola Press News Agency

Luanda – The certification process of the New Luanda International Airport (NAIL) begins next June to allow its operation, at the end of 2023, with the reception of planes from different airlines intending to fly into Angola.

The information was provided by the Minister of Transport, Ricardo D`Abreu, during the Angolan President of the Republic´s visit, last Saturday, to the works of that infrastructure, located in the commune of Bom Jesus, in the municipality of Icolo e Bengo.

On the occasion of the visit, the Holder of the Executive Power held a meeting, behind closed doors, with members of the management of the contractor Aviation Industry Corporation of China, from which he received information on the good progress of the works.

According to Ricardo D`Abreu, “the certification process will have the go through and support of ICAO, the International Civil Aviation Organization, and the seal will allow Angola to place the NAIL on the prominent route of international flights.

He added that, with the start of the certification process, “the first test flight” will also take place in June this year, to guarantee the final acceptance of the project.

However, minister Abreu did not specify the type of plane that will open the runway of the New Luanda Airport, but stressed that the most important thing will be to start the certification process, in the standards required by international aeronautical safety.

Ricardo D`Abreu also announced to the press that the certification process of Catumbela International Airport, in the province of Benguela, is already underway, and should be completed anytime this year.

In the budget for the NAIL, the minister said that the limit for the conclusion of project prepared by the Government in 2018, goes around US$1.4billion.

“So far, the level of financial execution is around 40% of the value, as we need to continue the financial execution, so that the pace of physical execution does not stop”, he mentioned.

Ricardo D`Abreu assured that, with the entry into operation of the NAIL, the current international airport “4 de Fevereiro” won´t be shut down, as it will serve for reception of executive and charter flights.

Regarding to the forms of accessibility and/or transport, he referred to the surface metro, trains and road vehicles, which are currently being implemented.

Source: Angola Press News Agency

Luanda – Customers of Africell, a company that on Thursday officially launched operations as the fourth mobile phone company in Angola, have an open line to communicate free of charge, said its Chief Executive Officer, Gonçalo Faria.

Speaking at the formal ceremony to launch operations, Chief Executive Officer, Faria said that over the next few weeks around 120 distributors, including shops and mobile points, would be available for people to buy phones, Sim cards, amongst other equipment and services at affordable prices, such as the data balance, which is up to 50 percent of what is currently available on the market, where 1GB is equal to Kz 1500.

The CEO explained that the company’s accelerated expansion depends on the system of infrastructure sharing with other operators, as it is a process that optimises costs and guarantees service quality, which is why it has done so with public and private companies such as Movicel, EPAL, ENSA, amongst others.

“The company’s expansion plan was designed with several phases that it aims to anticipate, if possible, and currently work is underway in Benguela and Lobito, and to launch the network in Huíla (Lubango) and some prospecting in Cabinda, until July, he said, adding that Huambo would only be reached at the end of 2022.

Here are AFRICELL’s plans

Voice, SMS and data plans of the new network: “COMBO WEEK” package 15GB+500mns+500sms for only 1200kzs for 7 days.

“FALA BUÉ for a Month “: 500MB+1000mns+1000sms for 1800 kzs for 30 days.

“MEGA FALA BUÉ for a Month “: 3GB+1500mns+1500sms for 3200 kzs for 30 days.

“NET ESSENTIAL for a Month”: 4GB+1500mns+1500sms for 4000 kzs for 30 days, with the chip costing kz 200.

The company Africell

It is an American operator that experts say provides fast, reliable, low-cost mobile network coverage and related technology services to more than 12 million subscribers in sub-Saharan Africa.

Based in London, United Kingdom, the company directly and indirectly employs over 10,000 people, and will compete directly with counterparts Unitel and Movicel, as well as telephony company Angola Telecom, in a market regulated by the National Telecommunications Institute (INACOM).

Source: Angola Press News Agency

Luanda – The World Bank’s Board of Directors has approved a USD 300 million financing to support the Government of Angola to improve water supply and strengthen water resources management for greater climate resilience in some areas of the country.

The funding will support the project called Climate Resilience and Water Security in Angola or RECLIMA, which will be co-financed by the French Development Agency (AFD), through a loan denominated in Euros, equivalent to USD150 million.

For the World Bank, climate change threatens water security and livelihoods in Angola, according to a note sent to ANGOP.

The project will be implemented in the provinces of Zaire, Benguela, Huila, Kwanza sul, Cuando Cubango, Cunene, Namibe and Luanda, benefiting around 1.2 million people.

The Climate Resilience and Water Security Project in Angola or RECLIMA will finance physical investments in urban and rural areas.

It will also include institutional development activities to increase water security and help manage extreme weather effects, from the national and basin up to the municipal level.

According to this international financial institution, the country’s high degree of exposure to extreme weather events further threatens its economic stability and the safety and well-being of its population.

According to the WB, the most recent drought that hit the country, between November 2020 and January 2021, was described as the worst drought in the last 40 years.

“Climate change is a reality that can no longer be ignored, and Angola is one of the countries in the region that most suffers from its consequences,” said Jean-Christophe Carret.

The WB’s National Director for Angola, quoted in the document, reiterated support from the Bank to the country, putting in place sustainable adaptation measures that mitigate the impact of climate change on people and their livelihoods.

The RECLIMA project has three components, the first component includes the rehabilitation and expansion of water supply services in urban and peri-urban areas, as well as the maintenance and repair of rural water supply systems.

The second component aims to support selected provinces and their municipalities with investments in the development of water resources that include investments in infrastructure at the community level to increase reliable access to water resources through the rehabilitation and construction of sand dams, cisterns, small reservoirs .

It also provides for piped water supply, boreholes, protected wells and soil and water conservation measures in selected hydrographic basins.

The third component is to support project management and inter-institutional coordination.

The World Bank is one of the international financial institutions that has supported the efforts of the Government of Angola.

Source: Angola Press News Agency

Ondjiva – At least 235.000 people from Ombadja, Cuanhama and Namacunde municipalities will benefit from drinking water under the project of transfer from the Cafu capture station from Cunene river, inaugurated this Monday by the President of the Republic, João Lourenço.

The Cafu collection and pumping station is the first of five projects of the programme of structural actions to combat the effects of drought in Cunene province.

The project is estimated to cost 44.3 billion kwanzas and will also make it possible to supply water to 250,000 animals and irrigate 5,000 hectares of agricultural fields.

The construction contract for the canal was decided after a visit by the President of the Republic to the Cacimbas (artisanal boreholes) in Ombala Yo Mungo, Ombadja municipality, in May 2019, at the time affected by a severe drought.

At the time, about 857,000 people, corresponding to 178,000 families, residing in 436 critical localities, had been affected by the drought, as well as the death of 72,000 cattle was recorded due to scarcity of water and pasture.

Due to the phenomenon, 276 schools had to close, motivated by the withdrawal of 54,490 students who moved to the transhumance areas.

The collection system includes metallic structures for the suction chamber and water intake area, an electrical substation building with three generator groups with a capacity of one megawatt and a one-dimensional reservoir, and a set of solar panels capable of generating 1.5 megawatts of energy.

It has an open-air canal, with a length of around 160 kilometres, with the main canal running 47 kilometres from the Cafu station to Ombala yo Mungo and two others linking the municipalities of Ndombondola (55 km) and Namacunde (53 km).

The project has 30 chimpacas (water reservoir), which are 100 metres long, 50 metres wide, five to six metres deep and water storage capacity of between 25,000 and 30,000 cubic metres.

The project took into account an environmental study that includes a Southern African Development Community (SADC) protocol, as well as sharing information with Namibia.

The work carried out by the company Sinohydro has guaranteed direct employment for 3,477 workers.

Source: Angola Press News Agency

Luena – At least ten million US dollars is the amount made available by the World Bank (WB) to finance the Sanitation Master Plan of Luena city, capital of Moxico province.

The Master Plan for Sanitation of the city of Luena includes, amongst other measures, improving the living conditions of families in outlying and urban areas, water supply, sanitation, drainage and solid waste in all areas of the city.

The 12-month Master Plan, before implementation, will assess and identify the best sanitation solutions, including sanitation facilities, water and faecal waste management, sewerage network, among others.

The Luena City Sanitation Master Plan was presented to the Moxico provincial governor, Gonçalves Manuel Muandumba, who praised the measure as important for the wellbeing of communities.

Speaking to the press, the project coordinator, Suzana Soares, the project will be implemented in three phases, namely, survey of the current sanitation situation, Strategic Plan, as well as the Action Plan.

Source: Angola Press News Agency

Luanda – Angola and the World Bank (WB) are working on preparation of a report on Climate Change and Economic Development in the country, which will incorporate the Executive’s policies for sustainable development, the Secretary of State for Planning, Milton Reis, said Thursday.

Milton Reis was speaking at the opening of the Workshop on the Report on Climate Change and Economic Development of Angola.

He noted that the document will report on projected climate impacts in climate-sensitive critical sectors of the Angolan economy’s development (water, agriculture, energy, infrastructure, health and risk management of natural disasters and catastrophes).

According to the official, the report will analyse binding constraints on development, as well as new development opportunities arising from measures of resilience (mitigation and adaptation) to climate change.

Milton Reis is of the view that inclusive and sustainable economic growth is a permanent and complex challenge that requires resilience and good management of climate change.

In turn, the WB’s Climate Change and Environment specialist, Arame Tall, said that the report will receive contributions from different sectors and should address key priorities for future investments in the country.

The expert says that the WB will dedicate itself to the work being integrated into Angola’s future National Development Plan (2023-2028).

The Workshop on the Report on Climate Change and Economic Development of Angola is being promoted by MEP in collaboration with the World Bank.

The main objective is to obtain contributions from ministerial departments on the medium-term strategic objectives aimed at mitigating and adapting to the climate change, as part of sustainable development.

Source: Angola Press News Agency