Posts Tagged ‘Business’

Angola: Slick Business Deals

November 26, 2011

by  Markus Weimer,            Research Fellow, Africa Programme, Chatham House

Angola’s economy is the fastest growing in the world in the last decade and it has welcomed a long list of foreign dignitaries in a bid to attract business.
Norway’s Ministers for Business & Trade and Environment & Development are currently in Luanda as part of efforts to strengthen bilateral relations. Norway’s courting of Angola is emblematic of changes in the global economic order that the financial crisis has catalysed: different countries are engaging as equal players. More……..

Advertisements

Angola not for faint-hearted firms

November 26, 2011

LOUISE REDVERS Nov 25 2011 00:00

We needed a sturdy car and a lot of patience to reach Bevcan Nampak’s Angolata factory, which is situated at the end of a long and bumpy sand road on the eastern outskirts of the Angolan capital, Luanda.
After a good hour on the road and several stops for directions, we finally made it into the cool air-conditioned offices located above the giant production line. Our trip through Luanda’s dense and impossible traffic and then along the unknown, unpaved roads of Viana was in many ways a metaphor for South African company Nampak’s own frustrating journey into Angola. More……….

Portugal PM: Angolan capital welcome in privatisations

November 19, 2011

Nov 17 (Reuters) – Portuguese Prime Minister Pedro Passos Coelho invited investors from former colony Angola to take part in the privatisation programme his country is implementing under the terms of its international rescue package. More…….

First Friday Club Angola

September 4, 2011

On the first Friday of each month, conversation in the Jango Veleiro restaurant revolves around business. Businessmen, entrepreneurs and stakeholders come together in a relaxed atmosphere to talk business and to make new contacts. The club is an initiative of the Chamber
of Commerce and Industry. Members of the First Friday Club Angola pay an annual subscription of twenty dollars.

.

First Friday Club – Luanda (em Português)

September 4, 2011

Na primeira Sexta-feira de cada mês, a conversa no restaurante Jango Veleiro gira a volta dos negócios. Empresários, empreendedores e interessados juntam-se num ambiente saudável e relaxado para falar de negócios, rever e fazer novos amigos.

Numa iniciativa da Câmara do Comércio e Indústria, o First Friday Club Angola reúne durante duas horas homens de negócios e outros potenciais parceiros existentes em Angola, num ambiente oportuno de negócios ou potenciais parcerias.

Segundo a organização do evento, o membro do First Friday Club Angola paga uma quota mínima anual de vinte dólares e é provido de um cartão de membro, onde será depositado o que for consumido nas suas noites de Sexta-feira no Veleiro.

Fonte:

The Economist: Role reversal – An ex-colony may be getting the better, in economic terms, of its old master

September 3, 2011

THE airport at Luanda, Angola’s capital, is called “The Fourth of February” after the start of the nationalist uprising against Portugal, the old imperial power, in 1961. But that is not deterring the thousands of Portuguese flooding in every week. With Portugal’s economy sickly, a stream of professionals has been heading south to the former colony. Portugal’s foreign ministry says it registered 45,000 Portuguese citizens as resident in Angola in 2007-08. A year later the figure had jumped to 92,000. Not long ago, Angolans were fleeing a civil war, looking for a better life in Portugal. More…….

The Rise and Rise of Angola

July 10, 2011

Extraordinary economic growth is feeding into increasing political power with potentially significant implications for African geopolitics. More……

Angola : Embassies complain about visas

June 15, 2011

In Angola, passports get lost at the immigration office and work permits are granted months or even years too late.

This is not the end of the horror stories among expats and tourists. The embassies of the EU, US, Norway and Brazil have now made an official complaint. More…..

Reuters: FACTBOX-Key political risks to watch in Angola

April 2, 2011

LUANDA, April 1 (Reuters) – Tension between the ruling MPLA party and the main opposition UNITA party and questions over policy-making are worrying investors in the major African oil-producing nation of Angola.

The MPLA, which emerged victorious from a 27-year civil war against UNITA in 2002, has been accused of corruption and of not doing enough to tackle widespread poverty.

Other concerns include uncertainty about a successor to President Jose Eduardo dos Santos and heavy dependence on oil revenue, although the spike in crude prices to above $100 a barrel is likely to alleviate government funding pressure. More…….

FACTBOX-Key political risks to watch in Angola

March 13, 2011

Reuters 1 March 2011

LUANDA, March 1 (Reuters) – Tension between the ruling MPLA party and the main opposition UNITA party and questions over policy-making are worrying investors in the major African oil-producing nation of Angola.

The MPLA, which emerged victorious from a 27-year civil war against UNITA in 2002, has been accused of corruption and of not doing enough to tackle widespread poverty.

Other concerns include uncertainty about a successor to President Jose Eduardo dos Santos and heavy dependence on oil revenue, although the spike in crude prices to above $100 a barrel is likely to alleviate government funding pressure. More……

FACTBOX-Key political risks to watch in Angola

February 2, 2011

Feb 1, 2011 11:23am GMT |

LUANDA Feb 1 (Reuters) – Tension between the ruling MPLA party and the main opposition UNITA party and questions over policy-making are worrying investors in the major African oil-producing nation of Angola.

The MPLA, which emerged victorious from a 27-year civil war against UNITA in 2002, has been accused of corruption and of not doing enough to tackle widespread poverty.

Other concerns include uncertainty about a successor to President Jose Eduardo dos Santos and heavy dependence on oil revenue, although the return of crude towards $100 a barrel is likely to alleviate government funding pressure. More……….

Angola : Cracking the market

September 18, 2010

Angola’s existing multi-billion dollar infrastructure and vast mineral resources are some of the aspects that are drawing investors to the southern African country, despite the less than ideal business regulatory environment.

//

Although many deals made in Angola in the recent past have turned sour, a lot of South African companies and other foreign investors still see the country as a potentially lucrative market for expansion. So what does it require to crack this market? TradeInvestAfrica interviewed the honorary chief executive of the South Africa-Angola Chamber of Commerce (SA-ACC) Roger Ballard-Tremeer, on how one can successfully do business in Angola. Ballard-Tremeer, a former South African ambassador to Angola, intimately understands the country’s business and political landscape. More……

Angola to overhaul tax regime to boost revenues

September 5, 2010

LUANDA, Sept 3 (Reuters) – Angola’s government  will launch a complete overhaul of its tax regime to improve collection and increase revenues, Minister of State Carlos Feijo said on Friday.

Feijo said management consultants McKinsey & Co had been hired to help advise on how to fix a tax regime that has not been updated since the end of a civil war in 2002.

Officials in the southern African oil-producing nation often complain they lack the means to ensure taxes are properly collected from companies operating there.

“We will work with McKinsey to revamp all our fiscal sector.Our goal is to increase our tax revenues,” Feijo told a newsconference on Friday.

The move takes place after a slump in oil prices in the past year prompted Angola to delay billions in payments to construction firms rebuilding the nation after the civil war. Angola turned to the International Monetary Fund for a $1.3billion loan.

Angola vies with Nigeria as Africa’s biggest oil producer. It depends on oil for 90 percent of its export revenue. Feijosaid a better tax regime would help lower the nation’s external debt-to-GDP ratio, which he said stood at 38.7  percent.

Earlier this year, the government hired consulting firm Ernst and Young to audit government accounts as well as those of state-owned oil firm Sonangol and state-run diamond firm Endiama.

Angola is ranked in the bottom 19 of 180 countries in a Transparency International corruption survey last year.

(Reporting by Henrique Almeida; Editing by Peter Graff)

Source

FACTBOX-Key political risks to watch in Angola

September 2, 2010

 By Henrique Almeida LUANDA, Sept 1 | Wed Sep 1, 2010 8:46am EDT

(Reuters) – Angola’s ruling MPLA party emerged victorious from a 27-year civil war in 2002 promising a better life for Angolans but this dream is fading as corruption is rife and the government is seen failing to help the poor.

Despite their nation’s vast oil resources, millions of Angolans live in poverty with an estimated two-thirds of people in the country living on less than $2 a day.

Other problems include uncertainty around a possible successor to President Jose Eduardo dos Santos, liquidity problems in the banking sector and heavy dependence on oil.

Many of the issues feed demands for more government transparency and accountability as Angola tries to regain investor confidence after the global financial crisis. More……….

Angola : Ingleses procuram oportunidades

August 30, 2010

Angola é o próximo alvo da Commonwealth. A organização britânica integra um conjunto de países, na sua maioria ex-colónias (excepto Moçambique e Ruanda), que interagem através de parcerias. A estabilidade política e social dos últimos anos despertou o interesse dos empresários da comunidade, que se mostram disponíveis para investir na diversificação económica e para aliviar a dependência do sector petrolífero. Mais………

Starting a foreign business in Angola

August 30, 2010

This article highlights issues for consideration when starting a foreign business in Angola in four areas: 1) foreign business start-up, 2) access to industrial land, 3) Foreign ownership issues across sectors, and 4) commercial dispute arbitration. More…..

Ambassador invites British businesspeople to invest in Angola

July 17, 2010

 Luanda – Angolan ambassador in the United Kingdom, Ana Maria Carreira, invited Thursday in London, British businesspeople to invite in various sectors of the economy, as part of the Government diversification strategy.

In a lunch-conference with “Conservative Africa Business Group”, a group of businesspeople from the ruling Conservative party, Ana Maria highlighted as priorities sectors such as agriculture, fishing, industry, civil construction, housing, energy and water, services, transports and telecommunications, among others.
According to the Angolan diplomat, as fruit of peace in the country, the Government invested significantly in the rehabilitation of infrastructures destroyed by the war, such as roads and bridges that enable movement of people and goods nationwide.

Then Ana Maria justified the government’s diversification of the economy, stressing that the world economic crisis demonstrated once again vulnerability of the country before its dependence on oil sector, whose revenue was affected drastically. “Thus, the country has a number of resources to be explored”, she said.

The contact served to establish commercial ties aimed at promoting and expanding business between both countries.

Source : Angop

Portugal Turns to Former Colony for Growth

July 17, 2010

LISBON — António Cunha Vaz, along with his mother and sister, was part of a mass exodus of Portuguese from Angola in 1975, when it gained independence before descending into a devastating civil war. 

But in 2008, Mr. Cunha Vaz opened an office of his Lisbon-based public relations consultancy in Luanda, the capital of Angola, and last year, the company derived 37 percent of its 22 million euros ($28 million) in revenue from Angola.

Portugal, one of Europe’s ailing economies, is increasingly placing its hopes of recovery on Angola, a former colony that has established itself as one of the strongest economies in sub-Saharan Africa — thanks largely to oil and diamonds. The shift comes as competition is getting stiffer in Brazil, another booming former colony, and as Portugal’s traditional European trading partners, led by Spain, struggle under a mountain of debt and soaring joblessness. More……

Onde, como e por que faz sentido investir em Angola

July 16, 2010

O presidente do BPI diz existirem muitas oportunidades para as empresas portuguesas em Angola, destacando o sector da construção.

“Há muitas oportunidades no sector da construção e das infra-estruturas, tal como na prestação de serviços ao sector petrolífero e energético, em geral”, disse o banqueiro, apontando igualmente para o sector agrícola. Mais……

Angola : More than 900 ATMs in 2009

July 12, 2010

Luanda – The number of Automated Payment Machines (APM) installed in various commercial outlets in the country reached 7,587 last year, against the 2,660 of the previous year, Angop learned Monday in Luanda. 

The information was provided by the Empresa Interbancária de Serviços (EMIS). 
According to EMIS data, there was also a rise from 717 Automated Teller Machines (ATMs) in 2008 to 995 last year. 

The APMs network recorded a total of 2.8 million transactions in 2009, corresponding to Usd 314.3 million, against 1.4 million transactions in 2008, totalling Usd 166.8 million.
As to ATMs, there were 41.3 million transactions in 2009, corresponding to Usd 2.1 billion, against 31.6 million transactions that involved Usd 1.6 billion.
The national electronic payment system is run by EMIS and started functioning on July 27, 2001. It is held by the reserve “Banco Nacional de Angola” with 51 percent and the commercial banks operating in the country that respond for r 49 percent of the shares.