Angola: Latest News
Dana Sanchez, 12:52 pm
The top three investor economies to Africa in 2015 were the U.S., ($66 billion), the U.K. ($64 billion), and France ($52 billion), according to a new U.N. report. China’s investment in Africa more than tripled to $32 billion in 2015, making it the fourth-largest investor on the continent. South Africa was the fifth largest investor in Africa at $26 billion. Investment into Africa overall was down 7 percent and South Africa was one of the biggest losers.
Peter Pedroncelli, 8:54 am AFKI Original
With 15 players of African heritage having earned the right to play in Euro 2016 final on Sunday, we take a look at each of them and which African country they could be representing if they had not decided on their European national teams, France and Portugal.
Kevin Mwanza, 7:26 am
BMW South Africa has announced plans to expand to seven African countries in the next three to four years in a “structured” approach that will create a ready market for Rosslyn assembly plant in Pretoria. Speaking after BMW Germany announced that the South African unit would take responsibility for distribution and marketing activities across the sub-Saharan region, CEO Tim Abbott said the automaker would initially concentrate on entering Nigeria, Senegal, Ivory Coast, Togo, Ghana, Kenya and Angola.
Keren Mikva, 4:50 pm
It’s the fourth-longest river in Africa, and vital to the economies of countries it runs through. The fertile Zambezi river basin plays host to a vast variety of wildlife, including crocodiles, lions, and hundreds of bird species. While some species are protected, hunting safaris are common. But areas once considered protected are also being exploited for mining. Australian-owned company Zambezi Resources received a 25-year license to mine for copper in the Lower Zambezi National Park.
Kevin Mwanza, 9:02 am
South Africa’s state-owned Strategic Fuel Fund (SFF) announced on Wednesday it had offered to buy Chevron’s 110,000 barrel a day refinery in Cape Town, its fuel stations in the country and other downstream assets in neighboring countries. The US oil major company, which started selling-down its assets in Africa in 2014 in a three-year asset sale program,said in January it planned to sell 75 percent of its South African business unit, which it estimated could fetch about $1 billion
Kevin Mwanza, 8:28 am
Kenya expects to issue it second Eurobond at much lower than larger African economies that rely on oil export, the East Africa’s minister of finance told Bloomberg. Henry Rotich, together with other senior government officials, took a non-deal roadshow in April to meet investors in the US and UK to gauge investor sentiment on a planned 15- and 20-year Eurobond to be issued later this year. The East Africa’s largest economy is looking for funds to fill a 9.3 percent budget deficit,
Staff, 6:10 am
Angola is tapping international lenders for roughly $1 billion of new loans, including one for food and medicine, as Africa’s biggest oil producer tries to cope with the fall in global crude-oil prices. Goldman Sachs Group Inc. is arranging a syndicated loan that is partly guaranteed by the World Bank, while London investment firm Gemcorp Capital LLP is separately providing dollar financing to the country to import food, medicine and other necessities, people familiar with the loans said this week.
Dana Sanchez, 3:07 pm AFKI Original
When multinational companies expand in Africa, they often send employees there on assignment. How much they pay these employees depends a lot on fluctuations in currency, inflation and accommodation prices. New York City-based human resources consulting firm Mercer has carved out a niche for itself for the last 22 years by compiling data that help big companies decide what to offer by way of expat packages. These are the 10 cheapest places to live out of 209 cities around the world if you’re an expat.
Dana Sanchez, 10:54 pm
Nigeria and Angola, the two African countries hit hardest by falling oil prices, have the highest number of hotels in the development pipeline this year. Zimbabwe-listed hospitality group African Sun laid off nearly 250 employees citing dwindling tourist numbers, lower room rates and the country’s deteriorating economic environment. About a third of the hotel deals signed between 2009 and 2013 haven’t materialized, mainly due to lack of financing. Carlson Rezidor is one that’s delivering.
Staff, 12:02 am
Lawyers and an Angolan human rights activist have challenged the appointment by presidential decree of Isabel do Santos, Africa’s richest woman, to head Sonangol, the state-run oil company. Angola’s main opposition party, UNITA, wants an investigation. President Dos Santos said he intends to step down in 2018. Isabel already owns 25% of Unitel, Angola’s first private mobile phone operator, and is a major shareholder in other big companies in Angola and Portugal.
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