Angola: Latest News
Dana Sanchez, 10:10 pm
Luanda is still the world’s second most expensive city for expats after Hong Kong, but rent for office space fell almost 50 percent in the past two years. Demand has virtually ground to a halt in the region’s top oil-producing country. Rent has has also fallen for office space and luxury homes in Nairobi, where there’s an oversupply. Kenya became a hotspot for oil and gas exploration in 2012. With the price of crude down more than 50 percent since mid-2014, Nigeria, the region’s second-largest oil producer, is in recession. One bright spot: industrial space rent is rising in Kenya.
Kurt Davis Jr., 2:33 pm AFKI Original
Investors are strategically betting on the upside in Francophone Africa due to strong economic growth rates and a stable CFA franc. Lusophone Africa also presents opportunity. Low assets prices have replaced the exorbitant numbers of the oil-and-gas heyday, particularly in Angola and Mozambique. Debt restructuring can restore some confidence in Mozambique’s economic system. Private investors are finding a government more willing to deal on better terms, and companies that are pricing assets at fairly digestible prices.
Peter Pedroncelli, 3:05 am AFKI Original
Central banks are the national banking institutions that provide financial and banking services for countries’ governing and commercial banking system, including lending money. African countries have some of the highest interest rates in the world, with some even reaching as high as 23 percent. By way of comparison, the U.S. Federal Reserve recently revised the country’s interest rate to 1 percent, while most of Europe’s central banks have interest rates at between 0.25 percent and 2 percent. We take a look at 13 African countries with the highest central bank interest rates.
Global Risk Insights, 3:31 pm
Lacking substantial oil reserves, Morocco took a backseat to Angola and Algeria during China’s resource binge in the 2000s. That has changed as China seeks to diversify investments. Morocco now has three Confucius Institutes and is becoming the default investment destination in North Africa as instability continues in the region. Anti-Chinese sentiment in more established China-Africa relationships is also leading China to diversify its investment portfolio. Casablanca is scheduled to play host to the China-Morocco Trade Week in December 2017.
Peter Pedroncelli, 6:13 am
South Africa’s 3-1 win over Guinea-Bissau in a friendly international on Saturday in Durban came with a price as four Bafana Bafana players are doubtful for the friendly encounter against Angola on Tuesday through injury. Defenders Erick Mathoho and Thulani Hlatshwayo, as well midfielders Dean Furman and Andile Jali are being monitored by the national team’s medical staff. The quartet missed Bafana’s first training session at Sisa Dukashe Stadium in Mdantsane on Sunday night, and will need to be closely monitored before a decision on their availability is made.
Dana Sanchez, 4:58 pm AFKI Original
African exploration took a hit the last two years. Eni’s success shows it’s not over. Eni is Africa’s leading gas producer. With an oil sector less than 10 years old, Ghanaian companies have limited experience providing tech services to offshore operators. GE says it plans to provide training and support for the local oil and gas supply chain, and SMEs. GE’s new Ghana facility is already supporting Eni. Eni’s exploration success rate is the envy of its peers. Most of Eni’s oil finds were discovered in the last decade, mainly in Nigeria, the Congo, Ghana and Angola.
Dana Sanchez, 11:34 pm
Angola has pushed Egypt out of second place in Africa for number of hotel rooms under construction. Angolan tourism is thriving internally, but the former Portuguese colony isn’t attracting many international tourists. Education is one way African professionals can add value to hospitality and tourism, and carve out a niche that reflects national character, tradition, and culture. Angola’s College of Hospitality Management train locals as game reserve and safari lodge managers. This is how Africa’s hospitality sector should mature. Private equity investors should take notice.
Peter Pedroncelli, 7:06 am
South African 19-year-old Luther Singh has been given a chance to shine for his national team after receiving a call-up to represent Bafana Bafana in upcoming friendly international matches this month. Singh, a star player with the under-20 side that reached the semi-finals of the U20 Africa Cup of Nations in Zambia earlier this month, has been drafted into a 25-man squad for games against Angola and Guinea Bissau. The teenager ended the tournament as the top scorer with four goals for Amajita, helping them to a fourth-place finish in Zambia.
Ann Brown, 12:48 pm AFKI Original
There is no Silicon Valley in Cape Verde. The government sells a lot of tech services that independent companies could be providing, acting as both regulator and provider. This limits the private market, says Pedro Fernandes Lopes, a local who is bringing the first TEDx talk event to the island nation. It took a local Cape Verdean tech startup months just to register an app because Google didn’t recognize Cape Verde, Lopes told AFKInsider. “We need to raise the global visibility of Cape Verde and its tech innovators. And I think TEDx Praia will play a part in that.”
Kurt Davis Jr., 11:08 am AFKI Original
The economic downturn did little to stifle demand for African real estate. Some of the biggest returns and opportunities exist in rental properties, from beachfront getaways to hidden villas. Affordable housing is a major challenge for governments. Private investment is seen as a solution. Developers, private investors, and ordinary people can play a role in addressing the construction gap in the real estate sector and make a good return while doing so.
- Real Estate