Luanda: Angolan President Joo Louren§o has authorised financing of 158 billion kwanzas for the construction and equipping of facilities at Mandume Ya Ndemufayo University, based in Lubango, Hula Province.
According to Angola Press News Agency, the authorisation is contained in Presidential Decree No. 289/26, published in Series I of the Official Gazette, No. 151, dated 11 August 2026. The decree authorises the signing of financing agreements between the Angolan State, represented by the Ministry of Finance, the Export Credit Agency (EIFO), and Investec Bank, an international financial services and specialist banking group with origins in and strong ties between South Africa and the United Kingdom.
The Official Gazette states that the financing is intended to equip the university, under a financing agreement between Angola, represented by the Ministry of Finance, and Investec Bank, with a total value of six billion kwanzas (six million euros), covering 5 per cent of the value of the commercial contract as an initial payment. Of the total amount, 151.3 billion kwanzas will be used to finance 95 per cent of the commercial contract and cover the EIFO insurance premium.
The commercial contract for the implementation of the project is valued at 120.8 billion kwanzas (114 million euros), plus an insurance premium of 30.5 billion kwanzas (28.8 million euros). Taken together, the two financing agreements amount to approximately 148.8 million euros, or around 157.7 billion kwanzas, based on an indicative exchange rate of approximately 1,059 kwanzas to the euro.
The project involves the construction and equipping of the public higher education institution based in Hula, which also serves Cunene Province, making it important for the training of skilled personnel in southern Angola. The Presidential Decree delegates to Finance Minister Vera Daves, with authority to sub-delegate, the power to sign the financing agreements and all documentation required to complete the transaction on behalf of and in representation of the Angolan State.
The authorisation is expected to strengthen public investment in higher education in southern Angola, particularly through the construction of infrastructure and the acquisition of equipment required for the university's operation. Mandume Ya Ndemufayo University was established following the restructuring of Agostinho Neto University and under Decree No. 7/09 of 12 May, issued by the Council of Ministers, which created the Sixth Academic Region, then comprising the provinces of Hula, Namibe, Cunene, and Cuando Cubango, with its headquarters in Lubango.
In 2009, under the Angolan Government's Higher Education Programme and pursuant to Article 16 of Decree No. 7/09 of 12 May, Mandume Ya Ndemufayo University was established. It inherited the facilities of Agostinho Neto University, from which it was separated.
