Despite having over $70 billion in debt -- equivalent to 70% of the national GDP, Angola continues to spend more and get deeper indebted to China itself.
Angola Tender and Business News
According to a new report by the World Bank in the October 2018 issue of Africa's pulse, sub-Saharan African economies are still struggling after the significant slowdown they suffered in 2015-16.
NEC Corporation of Japan as principal, with support from Angola Cables S.A., has completed the first high-speed submarine cable system connecting the South American and African continents.
According to South Africa based HTI Consulting, a new Private Investment Law just approved by the National Assembly in Angola should pave the way to increased investment in tourism and the hospitality sectors -- and diversification from a country too dependent on its oil industry.
The Angolan government has contacted the International Monetary Fund (IMF) about a possible Extended Fund Facility (EFF) loan to support economic development in the country. The IMF has issued a statement in support of discussing that further.
João Lourenço of Angola has ordered that ENDE (Empresa Nacional de Distribuição de Electricidade (Angolan National Power Distribution Company)) is being removed from the partnership at Efacec Power Solutions.The reason is because of suspicion public funds were used illegally to help pay for the partnership agreement.
Resilient Waters, a new five-year $32.4 million project to ease water problems across the Limpopo River Basin and Okavango River Basin communities in Africa, was just announced by the United States Agency for International Development.
The U.S. Department of Agriculture is inviting businesses interested in growing their exports to Africa to join the USDA's upcoming trade mission to South Africa from October 29-November 2, 2018.
TechnipFMC, a UK-based company that provides services for the energy industry, has been awarded a contract for the Zinia Phase 2 field development, located offshore Angola at a water depth between 800 and 1,000 meters.
RS Components, the trading brand of Electrocomponents plc, just announced a significant expansion in its supply of electronic components within Africa. It just opened an e-commerce website, www.RSOnline.africa to serve a total of 15 countries countries on the continent.
According to the new 2018 Africa Risk-Reward Index from London-based Control Risks and Oxford Economics, West African economies are seeing improved risk-reward scores this year. The underlying reasons for this are increased political stability in the region, effetive public economic reforms, and rising commodity prices.
British engineering company Sparrows Group has been awarded a three year contract by multinational oil and gas company BP to manage crane operations and maintenance and deck services off the coast of Angola.
The servicing arm of the Lebanese Credit Insurer (LCI), LCI Services, has expanded its Debt Collection Services to cover 11 new African markets to support clients in their regional growth and protect their trade receivables.
Angola Cables, a telecommunications multinational, announced that the South Atlantic Cable System (SACS) has arrived and has been installed at Fortaleza on the Brazilian coast.
As a part of the African Union (AU) initiative, the International Air Transport Association (IATA) has announced the launching of the Single African Air Transport Market (SAATM) with the goal of opening up Africa's skies and improving intra-African air connectivity.
Sweden has announced its investment of over SEK 800 million to the 'Strategy for Sweden'’s regional development cooperation in sub-Saharan Africa.
The Cabinda Province Agricultural Value Chains Development Project in Angola just received a US $101.07 million loan to support all activities in the effort.
Angola Cables (www.AngolaCables.co.ao) has signed an agreement to support the West and Central African Research and Education Network (WACREN) (www.WACREN.net), the regional research and education network (REN) that facilitates interconnections between national RENs in West and Central Africa.
Denmark-based Haldor Topsoe just disclosed it will be building a new fertilizer manufacturing facility in Angola.
i3D.net, a managed hosting provider based in the Netherlands and specializing in online gaming for tens of millions of players, has selected Angonix (Angonix.net), Angola's largest Internet Exchange Point (IXP) to support its remote peering services within Africa.
Merck Foundation (www.Merck-Foundation.com), a nonprofit company and a subsidiary of Merck KGaA Germany, will be conducting the Fourth edition of their annual 'Merck Africa Asia Luminary' event on the 24th and 25th of October 2018.
More than 33,000 Congolese refugees are being moved by the United Nations' refugee agency from their current temporary and overcrowded facilities in northern Angola to what is hoped to be a more permanent establishment in Lóvua.
Luanda, Angola based Angonix (www.Angonix.net), founded only two years ago, is now the third largest African IXP, with peak traffic recorded as of July 2017 at 10.8 Gbps. The rapid growth of the IXP supplier demonstrates both how open the opportunity is for digital enterprises and specifically the competitive nature of Angonix itself.
Grupo Sun Ocean Lda, a new company formed by Embasa (Equatorial Guinea), Sun Ocean Holdings Ltd. of Angola, and QG African Infrastructure 1 LP have received formal approval to proceed with their project to produce, package and distribute juice, water and wine with significant capacity to contribute to positive economic and social impacts in Angola.
Portuguese firm Efacec (www.Efacec.pt/en) recently completed installation of the largest and most powerful transformer in Angola. That along with six other power transformers produced by Efacec will soon be installed at the Hydroelectric Power Plant located in the province of Malanje.