Cabinet Council Analyses Draft Project
On Land Bill
Luanda, 11/28 -
The Cabinet Council is gathered since this morning, in the
Presidential Palace, in Luanda, analysing the draft project on
the Land Bill, on its 6th session, chaired by the Angolan Head
of State, José Eduardo dos Santos.
The Cabinet Council is also analysing the project on the bill
that will transfer the irrigated area of Matala to the control
of Huíla`s provincial government as well as other pertinent
social and economic matters.
The session, which will end today, is also assessing a project
which approves the regulations on the State`s General
Inspection and another diploma which outlines the creation of
the National commission for Post-Graduation in Medical
Sciences.
BP makes 3rd oil find in Angola ultradeep
block 31
LONDON, Nov 24 (Reuters) - Oil major BP (London:BP.L
- News)
said on Monday it had made a third oil discovery in its
ultra-deepwater block 31 off the shores of Angola, adding to
a host of fields that will bring the country to the front
ranks of world crude producers.
BP said its Marte find, drilled in 2,000
metres of water some 175 kilometres offshore, was around 20
to 25 kilometres from the previously announced Plutao and
Saturno discoveries.
Angola is sub-Saharan Africa's
second-largest oil producer, currently pumping some 900,000
barrels per day of crude. Upstream projects are set to more
than double that in the next four years, mostly drawing from
deepwater reserves. "The interest level is very high anyway,
and this will further enhance the views that most people
hold on the country as being one of the top in the world in
terms of its deepwater prospects," said John Westwood of oil
and gas industry analysts Douglas-Westwood Limited.
Oil company forecasts indicate that at
least seven new streams from four deepwater exploration
blocks should add around 1.5 million bpd to current capacity
some time after 2006. Angola's deep and ultra-deepwater
reserves are of particular interest for oil companies, which
are keen to bypass OPEC (News
-
Websites) supply quotas and the transportation problems
of Russia and the Caspian.
Encouraged by an 85-percent success rate
in Angola's deepwater, compared to a global average of
around 50 percent, majors paid up $1 billion in signature
bonuses for exploration rights to the country's
ultra-deepwater fields. In addition to BP's block 31
ultra-deepwater finds, Total has also made an
ultra-deepwater discovery, Gindungo, in exploration block
32, which it operates.
However, ultra-deepwater projects carry
even higher costs than those in deepwater conditions --
often defined as between 500 and 1,500 metres of water --
and the majors are yet to announce development plans for the
fields.Analysts say the extra cost of ultra-deepwater
projects calls for large reserves -- perhaps as much as one
billion barrels -- to justify the necessary expenditure.
BP said on Monday the Marte find was
sufficiently close to its existing block 31 discoveries that
the three might be developed together. "The proximity of
Marte to Plutao and Saturno makes a joint development likely,
however, further work will be required to define the scope
of any subsequent development," BP said in a statement.
It added that the Marte-1 exploration
well reached a total depth of 4,193 metres below sea level,
and flowed at 5,200 barrels per day during testing. BP is
still waiting for a final go-ahead from Angola to develop
its deepwater block 18, which contains the Plutonio field.
Industry sources say they expect this permission to be
granted within the next few months.
BP owns 26.67 per cent of block 31, and
is the operator. Angola's state-owned oil company Sonangol
holds 20 percent, while the Angolan subsidiaries of
ExxonMobil (NYSE:XOM
- News),
Statoil (STAT.UL), Marathon Oil (NYSE:MRO
- News) and
Total (Paris:TOTF.PA
- News)
hold 25, 13.33, 10 and five percent respectively.
Foreign
Investors Eye Peacetime Angola for Profits
11/17/2003 Reuters News
By Zoe Eisenstein and Karen Iley
LUANDA - Foreign investors are flocking to Angola eager to
cash in on the country's huge growth potential as it emerges
from the devastation of three decades of civil war.
In the last month alone, the country has played host to
businessmen from Brazil, Britain, France, Germany, Portugal
Uruguay and the United States - and that's just the official
delegations.
"Angola really is the most interesting country in Africa at
the moment," said one oil industry executive. Burgeoning
confidence in lasting peace since the war ended in April 2002
is fast catching on among foreign entrepreneurs. "Just in the
year that I've been here, the difference is incredible," said
one Briton, resident in Angola and considering a range of
business ideas. "It's a huge business explosion, and there's
still so much more to be done. Unfortunately it's becoming
less of a well-kept secret. Investors who want a piece of the
action are going to have to move fast," she said.
The southwest African country is already an emerging energy
giant and is sub-Saharan Africa's second most prolific oil
producer after Nigeria. Four oil companies -
ChevronTexaco, ExxonMobil, BP and Total - dominate
the energy scene, but smaller oil firms are upbeat about
future prospects. "We still don't see Angola as an entirely
explored country," said Renato de Azevedo, director of Angolan
operations at Brazilian state oil Petrobras.
"Right now our position in the (Angola) market is not that big
- in fact we have a share of less than two percent in terms of
production, but...we intend to grow and become a very, very
important operating company in Angola," he said.
Angola's oil boom - production is slated to double in the next
four years - will also provide rich pickings for a raft of oil
service companies. "The relative importance of Angola has
increased because of downturns in other areas of the world
such as the U.S. Gulf, the market is moving from exploration
to production and service companies like ours want to be in
position to take advantage of that increased business," said
one executive.
MORE THAN JUST OIL
The expanding energy sector has done little to lift most
Angolans - 70 percent of its 13 million people live on less
than a dollar a day - out of the mire.
The war-shattered economy is almost entirely dependent on oil
and will need to diversify if the lives of its people are to
improve. Recognising this, the government is keen to attract
investors to other sectors.
"The strategy of the government, now that Angola is at peace,
is to develop the non-oil sector because this is the sector
that can create jobs..." .
"The areas we would like entrepreneurs to invest in very much
are infrastructure, construction, agriculture and in general
areas."
Foreign businesses - from South African supermarkets, to
Portuguese construction suppliers, to Brazilian bars - are
springing up in the capital every week, but these goods and
services are well out of the reach of most Angolans.
"Eventually you get a system going that can work but you
really need to be patient and find the right people to work
with," he said. "There's very little local produce so for the
next five years at least, before the local industries rebuild,
there's a lot of money to be made," he added. The government
has introduced measures which it hopes will make it easier for
foreigners to invest in Angola.
Investors can now deal with all administration required for
setting up a business - including obtaining a licence - in a
single office. Instead of dealing with several different
government ministries, foreign entrepreneurs can visit the
National Agency for Private Investment.
A private investment law approved in June offers tax
incentives and benefits for investments made in special
economic development areas the state wants to stimulate.
"This is good news for foreign investors because it's much
easier on an administrative level," said independent economist
Jose Cerqueira. "It will be very simple and much faster to
gain approvals.
Prime Minister
Inaugurates Bridge In Sumbe
Luanda, 11/14 - The Angolan Prime Minister, Fernando da
Piedade Dias dos Santos "Nando" arrived on Friday morning in
Sumbe city, central Kwanza Sul province, where he will
inaugurate a bridge over Keve river.
"Nando" was welcomed at the airport by the provincial governor,
Serafim Maria do Prado, and members of the local executive.
The programme of the visit includes a meeting with the
governor, at the Government Palace, where the committee will
go to the local waterfalls, 40 kilometers of Sumbe city, where
is located the establishment to be inaugurated.
The rehabilitation`s work at the bridge, which took eight
months, was in charge of a Portuguese contractor "Conduril"
and is estimated at USD 2 million.
With 356 meters long and 9.20 wide, the bridge can bear about
80 tonnes of weight and its rehabilitation is in the framework
of the Public Investments Programme (PIP).
The Prime Minister is being accompanied by the Ministers of
Urban and Environment, Transport and Social Communication,
respectively, Virgilio Fontes Pereira, Andre Luis Brandao and
Hendrick Vaal Neto.
Agriculture Ministry To Stimulate Cattle Reproduction
Luanda, 11/14 -
The Ministry of Agriculture and Rural Development (MINADER)
will from next year, stimulate the reproduction of cattle in
the country`s north and centre-south regions.
Speaking to Angop on Friday, in Luanda, the National director
of Minader for agrarian policy, cattle breeding and forests,
Claudio Chilulu Junior, said that they will take advantage of
the regions with pasture and water in Cela (Kwanza Sul
province), Camabatela (Kwanza Norte) and Cacuso (Malanje).
The project, coordinated by the Minader`s national department
for cattle breeding, will include the transportation of cattle
to those regions, from the provinces of Huila, Namibe and
Cunene.
According to the official, the programme is going to stimulate
cattle breeding in other regions of the country, and
consequently decrease the pressure in the Centre and South of
the country.
Claudio Junior is of the opinion that the traditional breeders
of cattle in the center-south region of the country should
benefit from health programmes, business and education.
The cattle breeding population in the centre and south regions
of the country is estimated at four million people, mostly of
traditional origin.
Capanda Dam in Crucial, Decisive Stage - Engineering Director
Luanda, Nov 14 - Angola`s biggest hydro-electric project has
reached a crucial and decisive stage with the conclusion of a
series of works that guarantee the security of the undertaking.
This was said on Thursday by the director general assistant for
engineering of the Office for Exploitation of the Medium Kwanza
(GAMEK), Manuel Tavares.
Speaking to local and foreign journalists who visited the dam
project in Angola`s northern Malanje province, Manuel Tavares
said ongoing works consist in digging a draining basin through
which waters can flow out in periods of flood, thereby avoiding
any damages to the dam and the construction of walls for
protection of the generator units.
The interconnection of energy supplied by Capanda with the
northern system, without causing complications to GAMEK and the
National Company of Electricity (ENE), constitute some of the
worries of the engineer, that guaranteed that there is need for
studies between technicians from both institutions.
"The works that precede the preliminary tests for the generation
of power by 1 to 22 December, have the aim to guarantee the
structural security of the undertaking and permit that the
energy comes without interruption," said.
In a first stage, the tests will be done on the second turbine
with an installed capacity of 130 megawatts that will supply the
Cambambe-Luanda line.
Head of State
Inaugurates New Water Distribution Station
Luanda, Nov 13 - Angolan head of State José Eduardo dos Santos
inaugurated today the Benfica water distribution station in the
Luanda district of Samba to cater for about 30.000 residents.
The station is part of the System III that supplies water to
Angola`s capital city, Luanda, and was designed in a way to permit
its expansion in future to meet demands.
The drinking water comes from southeast Luanda, through a
derivation with a 400 millimetres diameter, an extension of eight
kilometres stretching from the main pipe of Kikuxi/Palanca located
at the Sapu relocation area, at the Camama compound.
The newly inaugurated Benfica station comprises two reservoirs
with a capacity to store 1.500 cubic metres of water each and a
tall pressure controlling tower for 240 cubic metres.
It is also equipped with a pumping station for 120 cubic metres
per hour and an alternative power station.
Another technical elements point that the distribution station has
a technical reserving capacity to store 3.250 cubic metres, which
is superior to more than 12 hours in full normal supplying
operation.
The total cost of the project undertaken by the Brazilian builder
firm, Odebrecht, is estimated at USD three million. Meanwhile,
before the inauguration, the head of State visited the project of
rehabilitation of the basic sanitation and sewarage of the Samba
district.
These activities are part of the celebrations of the 28th
anniversary of Angola`s independence on Tuesday, November 11.
Industry Minister
Inaugurates Bridge in Ganda
Benguela, Nov 12 - A metal bridge over the Calondende river, in
the district of Ganda, Angola`s central Benguela province was
inaugurated on Monday by the Industry minister, Joaquim David, as
part of the celebrations of the 28th anniversary of Angola`s
independence (Nov. 11).
With the capacity for 50 tonnes of load, the bridge was
rehabilitated by the National Bridges Firm (ENP), between July and
August 2003.
Thus, road connections between the cities of Benguela and Ganda,
which used to be done through an alternative route situated in the
surroundings of the locality of Calondende, has been made easier
to drivers and pedestrians.
Speaking to the press, Joaquim David stated that the inauguration
of the bridge constitutes one more step forward to unity, and
national reconciliation and the beginning of development.
In his turn, Ganda administrator, Job Sassando, emphasized that
using the bridge launches the basis for easing social problems
facing the populations.
The district of Ganda has a population estimated at around 200.000
inhabitants, and is located 201 kilometres of Benguela city.
Luanda Railway Modernisation Project Out on Thursday
Luanda, Nov 12 -
The first phase of the rehabilitation and modernisation of the
Luanda Railway Network will be launched on Thursday here, with the
works taking 30 months, the director general of the company, Manuel
Gourgel Rodrigues, announced today.
The project funded by the Chinese Government includes the restoring
of the Rail-lines inside the Luanda Port and will also involve the
repair and modernization of the railroad between Bungo in town and
Viana disctrict, some 30 kilometres of the capital city centre.
The trains will travel at a speed of 80 kilometres per hour, against
the current 45 kilometres.
The project also includes the construction of flyovers for vehicles
near the Luanda Port and at the railway crossings of Cuca, Cazenga
and Frescangol, plus a bridge at Boavista, in order to avoid road
traffic jams.
The Luanda Railways Company`s director general, Manuel Gourgel
Domingos, said that the project also aims at the rehabilitation of
the Bungo station, the construction of new stations at the
localities of Musseques and Viana, plus eight wayside-stations.
It also Includes the repair and equipping of the Bungo repair shop
and the installing of traffic signs system and modern communications.
Manuel Gourgel Rodrigues informed that a listing of the families
that built houses by the railway is underway for their relocation by
the Luanda Government.
Brazilian Historian to Address Talks
Luanda, 05/11 - Visiting Brazilian Historian Luiz Felipe de Alencastro
on Wednesday starts in Luanda talks for journalists, teachers and
students.
Luiz Felipe de Alencastro, who is also a full time lecturer with the
division of Brazil History of the Sorborne University (Paris, France)
is Sunday in Angola at the invitation of the company Marketing Link
with support from the Social Communication Ministry.
"For over 20 years I have been studying the history of Angola because
I consider that it constitutes an essential part of the formation of
the Brazilian society," he had said.
"Therefore, it is with great emotion that I prepare myself to address
talks in Luanda, exactly at a time president Lula will be in that
country, sealing new ties between Angolans and Brazilians," the had
added.
The first talk will take place on the premises of the Angolan Writers
Union at 06:00 pm, followed by the second the following day at 10:00
am in the Higher Institute of Education Sciences (ISCED) for history
students of the Agostinho Neto University.
On Friday he will talk to in-training journalists at the Anibal de
Melo Press Centre at 10:00 am
Planning Minister Confident On Country Future
Luanda, 05/11 - Angola`s
Planning Minister Ana Dias Lourenco, on Wednesday, in Lisbon,
expressed confident on her country`s future economic development.
The Minister expressed this optimism while opening a seminar under the
theme "Angola In 21st Century: Stability and Development", in the
ambit of the commemorations to mark the 28th anniversary of Angola`s
indenpendence, which will be celebrated on November 11th.
According to her, with the achievement of peace, development is now
the goal in which the Angolan society should challenge steadily, so
that the trust of citizens` capabilities can be redeemed and help to
solidify the national rebuilding.
However, she defended an integrated development and a contribute for
the maximum thicking of inter-sectorial relationship, as well as the
creation of job and multiplication of incomes.
The Minister also considered that the development that the future will
have to bring to Angola should also be opened to the international
community`s contribution.
"Today, the economies have to be opened spaces to cultural influences,
technical models, commercial ties, foreign investments and flow of
people", she said.
"The Angolan economy presents so many internal constraints which
compress the spectre from results derived from the execution of
developing policies, expressed at annual inflation rates, in the value
of exchange rate, adjustment of budget deficits, interest rates and
salaries", she added.
Meanwhile, she considered that peace environment prevailing in the
country can contribute so that the macro-economic`s stabilization can
be a reality within some days, a reality that in her point of view has
already taking place for months ago.
The 10-day seminar counts with the participation of the Angolan and
Portuguese government members and other entities who will address
several themes about Angola.
2004 Budget Drafted with View to Economic Stability - Minister
Luanda, 05/11 - Angolan finance minister José
Pedro de Morais said today in Luanda that for the first time the State
Budget has been drafted with a view to the country`s economic stability.
Speaking at a press conference after handing the document over to the
speaker of the National Assembly (parliament), Roberto de Almeida, the
minister said that the 2004 Budget was based on the Government Economic
Programme and the current macro-economic conditions.
He said as well that the measures adopted by the Government from the
second half of 2003 aimed at reducing the inflation and stabilising the
exchange rate and will prevail over the year 2004.
Among the main goals targeted under the 2004 Budget announced by the
finance minister, stress goes to the reduction of inflation rate by 20
percent and the creation of conditions for the relaunch of the economic
activity.
He added that the expenditures for the social and economic sectors have
risen by 8,6 and 1,5 percent respectively.
However, José Pedro de Morais stated that the funds allotted to the
Defence and Public Order are still high, put at 30 percent of the Budget.
To him, these funds are still high due to the logistic support the
sector had to extend to the peace process but, he added, it will tend to
come down in 2004 in favour of the social sectors.
Jose Pedro de Morais said as well that the Goverment will tackle the
social sector not only through the increment of direct allocations to
the sectors of education, helth, social assistance and reintegration,
but also through incrementing the families revenues.
"With this, perspectives of stability conditions for economic activity
are created and consequently for the increment of jobs and the families
increment," he said.
On the other hand, the minister announced that the Government will adopt
more effective tributary policies and relieve the fiscal burden on the
national production.
The expansion of the tributary basis, restructuring of taxes on revenues,
consumption and property are some of the other aims of the 2004 Budget.
The 2004 State Budget comprises revenues and expenditures estimated at
Akz 660 billion (Usd 1 is about Akz 80.00).
Dos Santos Advocates
Diversified Cooperation With Brazil
Luanda, 03/11 - President Jose Eduardo dos Santos
said in Luanda that a more ample and diversified cooperation require
that Angolans and Brazilians get to know each other much better.
The Brazilians, he added "should also promote a greater knowledge of our
realities and potentialities".
Jose Eduardo dos Santos was speaking at the opening session of talks
between Angola and Brazil, in the ambit of the visit President Lula da
Silva pays to Angola since Sunday.
He underlined that the programs to be implemented in Angola, in
collaboration with Brazil, in the fields of education, professional
training and culture, can contribute to the deepening of this reciprocal
knowledge and for the consolidation of relations between the two
countries.
"We want to enlarge much more the ground of trust that exists amongst us
and to be always in harmony at the time of sharing ideas and options to
identify and resolve problems which are common to the two countries",
said the Angolan Statesman.
On the other hand, he defended the need to improve and consolidate the
democratic institutions, in accordance with the principles currently
ruling transparency, good governance and increase of civil society
participation.
To Jose Eduardo dos Santos, this major mutual knowledge will also
reinforce the links in the institutional and business fields, favouring
cadres training and financial, technical and economic cooperation, in
accordance with the needs and capabilities of each country.
He said it will also allow to attract more investments and establish
solid and concrete partnerships between companies estimulating the
exchange of capitals in the respective economies.
"It is with huge satisfaction that I acknowledged that Your Excellency
is accompanied by a big delegation of businessmen from your country, who
want to know the real conditions and study the opportunities for
business and investments in Angola", said the Angolan President.
He underlined that Angola has a new economic legislation which offers
much more security and guarantees of return on capitals to private
investors making direct investments in the national market.
"The improvement of credit facilities and increase of its volume by
brazil, be it as credit to the exporter, aid-credit or subsidized-loan
to development would be very well welcomed by the Angolan side", said
the President.
This, he said, would stimulate a major involvemnet of public and private
sector companies in the reconstruction of infrastructures destroyed by
the war, revival of cattle raising and industrial production and
increase of bilateral trade.
President dos Santos fingered out with great interest the support to Hiv/Aids
prevention and combat. "The spread of this disease is becoming a scourge
capable of putting national security at risk", he underlined.
As he put it, it (Aids) hits mostly workers and the youth, therefore
threatening the future generations and a support for the production of
anti-retroviral drugs would be welcomed, thus widening the already
existing cooperation.
Brazilians Bet On The
Rehabilitation of Sugar Manufacturing
Luanda, 03/11 - Brazil`s Minister of Industry and Commerce, Luis Fernando
Furlan, said on Sunday in Luanda that a project worth 100 million dollars
for the rehabilitation of the Sugar Industry in Angola may be under
assessment.
"Its part of everything my country can do for the reconstruction of this
African nation." said the official, which is part of the delegation of
President Luis Inacio Lula da Silva, that arrived Sunday night for an
official visit of 48 hours to this country.
The project, he said, consists in the supplying of Brazilian technology
for sugar-cane plantation, and the construction of a factory that will
produce sugar and alcohol.
He said the attention of his country should also be turned to furnishing
farming and industrial equipment to key sectors for the development of
agriculture.
He also said that the boosting of relations between Angola and Brazil will
be a "big value" for the strengthening of ties that unite the two peoples
and the Community of Portuguese Speaking Countries (CPLP).
The Brazilian Minister of Culture, Gilberto Gil, expressed equal optimism
in relation to the strengthening of relations between the two countries.
To him, Angola and Brazil "are historically united and the future should
soldify all of this".
Both officials are part of the Presidential Brazilian mission to the
country that will go on until next Tuesday.
Angola and Brazil Sign Cooperation Accords
Luanda, 03/11 - Angola and Brazil on Monday rubricated various agreements
at the end of official talks between delegations from both countries held
at the Presidential Palace, in Luanda, in the ambit of President Lula da
Silva visist to Angola.
The signed accords include Agricultura, Youth and Sports, Science and
Technology, Labour and Professional Training, Education, Local
Administration Staff Training, Urbanism and Environment and Public
Administration, Employment and Social Security, and were signed by the
incumbent Ministers.
The Ministers of Foreign Affairs of Angola and Brazil, respectively, João
Miranda, and Celso Amorim, officially opened the ceremony with the signing
of three accords, namely on Agriculture, Local Administration Saff
Training and Urbanism and Environment.
The two countries also signed a memorandum of understanding for
complementary adjustment of the accords of economic, scientific and
technical cooperation to support the development of the "School for all"
program in its emergency stage.
On Tuesday, the ministers of Culture of Angola and Brazil, Boaventura
Cardoso and Gilberto Gil, will sign an executive agreement for the sector.
Lula da Silva will meet the Brazilian community and with members of the
association of businessmen from his country. Later on he will inaugurate
the Angola/Brazil Cultural Centre, before being offered a state dinner by
his host counterpat José Eduardo dos Santos tonight.
In Luanda since Sunday, Lula da Silva leaves Luanda on Tuesday, after
visiting the Cazenga Professional Training Centre.
AAA Financial Group Invests 117 Million Dollars
Luanda, 01/11 - The Angolan Group
AAA, specialized in financial services of managements of risks, brokerage,
insurance and re-insurance has invested, in the last two years, more than
117 million dollars in the capitalization of its 10 Societies and in the
acquisition of shares from -frica Reinsurance
Corporation and from Starfish Oil & Gas Sa.
A press note by this group published in Luanda on Saturday says this
amount includes spendings in the construction
of is headquarters in Luanda, and the Centre of
Sinisters and Expert Inspection and Information Technologies.
The note adds that the main result achieved was the organisation,
capitalization and operationalization of the
Group in Angola and in the world, at a time record of only two years, if
taking into account the complexity of actions and the various legal and
regulation requirements of Angola, England and Bermuda markets.
AAA originated from a private and public partnership with the purpose to
provide the services the National Oil Society (Sonangol)
needs for the execution of its strategy of managing risks in oil
operations.
In Angola, AAA is organised in an entrepreneurial group coordinated by a
Holding, the AAA Financial Services, which integrates AAA Insurance SARL,
AAA Pensions, AAA Broker and Insurance, and AAA Services and Risk.
With these five companies, AAA provides services needed for management of
risks, financing and transfer of these risks, as well as makes available
products and services for the development of Angola, thus contributing to
a viable and modern insurance and pension market.
The document explains that its international organisation entails also
five companies coordinated by an International Holding, the AAA
International, which integrates AAA Reinsurance (based in Bermuda), AAA
Insurance & Reinsurance Brokers (domiciled at Lloyd`s
of London), AAA Risk Solutions (Bermuda), and AAA Underwriting (Lloyd`s
of London).
The source states that these companies operate in the two major world
markets of financial services and management of risks, insurance and
reinsurances, namely London and Bermuda.
The note says AAA leadership in Angola and its expansion in the world was
owed to the fact of being the first company consolidating the risks of the
different oil concessions and of Sonangol
associates in order to increase competitiveness of prices and financial
services, and for having created ALF (Angola LineslipFaciltiy) which operates in harmony with the
capacity of captive reinsurancers of oil
companies.
A reinsurance mechanism with the capacity of 700 million dollars for each
loss, ALF is led by Ace, Aig,
Catlin Syndicate and Zurich and covers all
stages of the oil activity, including exploration, development,
construction and production.
Still according to the press note, as result of the increase of petroleum
investments, oil industry assets under AAA management will reach, in the
next years, a value higher than the Gross Domestic Product (GDP) of
Angola.
Brazilian
President Brings 102 Business People
Luanda, 01/11 - The Brazilian Head
of State, Luis Inacio Lula
da Silva, who will visit Angola on Sunday,
will be accompanied by an entrepreneural
delegation made up of 102 business people, in the ambit of the
strengthening of the bilateral cooperation between both countries.
According to a note from the Angolan Trade Ministry sent to
Angop on Friday, among those coming with
President Lula are companies dealing with civil and military passengers`
vehicles, in the fields of food, mining, civil engineering, pharmaceutical
and telecommunications, banking and others.
On the agenda is also included the holding of a seminar on "Brazil and
Angola: trade investments", to be held on November 3rd, followed by a
meeting between the local and Brazilian business people with President
Lulasda Silva.
The visit of Brazil`s President to Angola aims
the strengthening of cooperation between Brazil and Africa, as being one
of the priorities of the South American country`s
Government.
It is estimated that nearly 2,000 Brazilian citizens are currently living
in the country, since the independence of Angola, on November 11, 1975.
Brazil was the first country to recognise the independence of Angola.
This will be President Lula`s first visit to
the Southern Africa country, since he took office in October last year.
Two More
Oil-Wells Discovered At Block 15
Luanda, 31/10 - The Angolan Oil
Company (Sonangol) and
Esso Exploration, subsidiary of Exxon Mobil Corporation,
have announced recently the discovery of two
more oil-wells, in deep waters, thus raising to 16 wells discovered at
block 15.
According to a document from Sonangol, made
available to Angop, the first well, called
Kakocha-1, was drilled at 1,030 meters (3376 feet) deep. This well was
tested and produced 7469 barrels per day.
The second well, called Tchihumba-1, was drilled at 1190 meters (3904
feet) deep, and has produced about 7469 barrels a day, so far.
Esso and Sonangol
have already announced at least 14 discoveries at block 15, during the
past four years, namely Hungo,
Kissanje, Marimba,
Dikanza, Chocalho,
Xikomba, Mondo,
Saxi, Batuque,
Vicango, Mbulumbumba,
Mavacola, RecoReco and Clochas.
Block 15 is being operated by Esso Exploration
Angola, with 40 per cent, BP Exploration Angola LTD with 26,67,
AgipAngola, Exploration BV with 20 per cent
and Statoil Angola with 13,33 per cent.
Germany Wants
Suitable FrameWorkFor
Investments
Luanda, 30/10 - A German
entrepreneural delegation, in Luanda since
Tuesday, said that the achievement of German businesses in the country is
subjected to the creation of adequate framework in order to
facilitates their investments, ANGOP learnt on
Wednesday.
According to Germany`s Vice-Minister for
International Economic Affairs, Karl-Ernest Brauner,
the German businesspeople defend also the existence of supporting
infrastructures, such as Banks and electricity, with a view to have strong
investments, established in various sectors.
The Germany`s delegation held a meeting on
Wednesday with the Vice-Ministers of Industry and Finance,
AbraaoGourgel and
Manuel Junior, respectively, to get acquainted with the new opportunities
of investments in Angola.
In the meeting with the Vice-Minister of Industry, the German business
people discussed on matters regarding to the new Act of private
investment, the development of cooperation between both States, as well as
aspects related to protection of Germany`s
future investments in Angola.
The business people from the European country will bet on the fields of
telecommunications, transports and agricultural and food production, for
being the sectors with enormous difficulties.
With the Vice-Minister of Finance, Manuel Junior, the German businessmen
mentioned matters concerning to the elimination of some obstacles aiming
the implementation of cooperation, as well as the Angolan debt to the
German State.
Mr Manuel Junior said that last August, there was held a meeting between
the Angolan and German authorities in which there was a partial pardon of
the Angolan debt to Germany.
At the meeting, was approved a joint declaration between both countries,
and with its approval the Germany business people showed their interest in
participating in Angola`s reconstruction
process.
This declaration will also enable the reopening of the international
credit lines, guaranteed through Germany`s
exporting agency.
The German State is also committed to help Angola in the economic
relations with the European Union (EU), World Bank and the International
Monetary fund (IMF).
The delegation, comprised by 12 businesspeople, held also a meeting with
the Governor of Angola`s National Bank (BNA),
AmadeuMaurício.
Angola/Portugal: Cooperation Programme For 2004/2006
Signed
Luanda, 27/10 - Angola and Portugal signed on Monday in Luanda an
indicative programme for the 2004/06 period at the end of an audience
Angolan president José Eduardo dos Santos granted to the visiting
Protuguese prime minister Durão Barroso.
Signing the agreement whose details were not supplied to the media were
the Angolan vice minister of Foreign Affairs for Cooperation, Francisco
Romão, and the Portuguese secretary of State of Foreign Affairs for
Cooperation, Manuela Franco.
A social security treaty was also signed at the same ceremony which took
place in the Presidential Palace.
The document that adds no details either, was signed by the Angolan
minister of Public Administration, Employment and Social Welfare, Pitra
Neto, and the Portuguese secreatry of State for Social Security, Teresa
Caeiro.
Immediately after that, delegations of both countries headed by the
respective prime ministers, began official conversations.
Meanwhile, Angolan premier, Fernando da Piedade Dias dos Santos "Nandó"
will host a working luncheon for his counterpart.
Afterwards Durão Barroso will offer a pack of books by Portuguese authors
and writers to the Angolan Writers Union and visit the site where the new
Portuguese school in Luanda will be built.
The two prime ministers will later on attend the closing ceremony of a
seminar on investments. The head of the Portuguese Government is being
honoured on the same day with an official dinner to be hosted by president
José Eduardo dos Santos in the Presidential Palace.
Debt to Portugal Regularized - Head of State
Luanda, Oct 27 - Angolan president José Eduardo dos Santos said on Monday
in Luanda that the issue of Angola`s debt to Portugal "is regularized."
José Eduardo dos Santos was speaking at a press conference together with
the visiting prime minister of Portugal Durão Barroso who is in Angola
since Sunday.
"It has been regularized on the basis of an agreement signed in the year
2002 by the two governments which establishes parameters through which
specialized teams will search for the solutions to solve the phased
payments, (...) including the pardoning of part of this debt," explained
the president.
He admitted that the difficulty to the debt payment mechanism operational
"will rest with a pre-financing guaranteed by a petroleum agreement."
Technical teams from the Angolan National Fuel Society (Sonangol) and from
a Portuguese bank are working hard to have this debt fully payed. Angola`s
debt to Portugal is estimated at two Billion Euros.
Portuguese Premier Optimistic About New Era of Relations
Luanda, Oct 27 - The prime minister of Portugal, Durão Barroso, said
on Monday, in Luanda, that there are extraordinary and unique conditions
for a new era of relations between his country and Angola.
The portuguese premier said that at a joint press conference with Angolan
president, José Eduardo dos Santos, at the end of a meeting between both.
"There is peace in Angola and there is an old relationship between the two
persons which allows that Portugal makes a contribution to the economic
reconstruction of Angola, for the development of a country and people that
need these development after the war they faced," he stated.
According to the head of the Protuguese Government, this is the essential
message he brings to Angolans, its Government and President of the
Republic.
"We are together, we are with you in this will to work for the future of
Angola, in the full respect to the sovereignty and to the independence of
this big African Portuguese speaking country," he stated.
He said as well that this is the reason why he is accompanied by a
delegation of ten members of his Government and an important business
delegation.
He explained that the Angola-Portugal relation "is not only a relation
between Governments, it is not only a diplomatic relation, it is not only
a formal relation, obviously though we respect the formalism of relations
between States which respect each other, but it is also a relation between
peoples."
Prime Minister Inaugurates Social
Infrastructures
Namibe, 24/10 - The Angolan Prime Minister, Fernando
da Piedade Dias dos Santos "Nandó", Thursday inaugurated in Tómbwa
district, Southwestern Namibe province, social-related undertakings
executed under the Programme of Public Investments.
They are the Pre-University Institute " Fidel de castro", worth US 350,000
dollars, the Public Lightening Network that costed the State coffers US
550 dollars, and a Children`s Playground worth US 99,377 dollars.
The Prime Minister expressed happiness with the level of execution of
projects of social impact, having reaffirmed that the Government is
carrying out efforts meant to improve the living conditions of citizens.
Commerce and Industry Bank Opens Agency
in Namibe
Luanda, Oct 24 - Angola`s Bank of Commerce and Industry (BCI) is opening
Friday in southwestern Namibe province a new branch, its 11st out of
Luanda, the chairman of its managing board, Generoso de Almeida said.
The ceremony will be presided over by Prime Minister, Fernando da Piedade
Dias dos Santos "Nando", who is since Thursday on a visit to that province,
said Generoso de Almeida before leaving for Namibe.
This is the 22nd in the country, Generoso de Almeida said, adding that the
Bank is making progress after a temporary paralysation to its expansion to
facilitate investments in its computing system.
The investment amounted to about three millions US Dollars, the source
said, adding that two more branches will open this year in Luanda, seen as
the country`s largest market.
A branch will also be inaugurated in Huambo province (centre) in 2004
whereas another expected for Zaire Province (north) in November 2003 has
been delayed, said Generoso de Almeida.
Meanwhile, Generoso de Almeida ruled out any privatisation of the BCI
which, according to him, will just undergo rehabilitation and improvement.
Country hosts West and Central Africa Maritime Conference
Luanda, 24/10 - Angola will host from October 27-31, this year the 12th
Conference of the Maritime Organisation of West and Central Africa (MOWCA)
to be held at Meridien Hotel in Luanda, ANGOP has learnt on Friday.
According to a note sent to ANGOP, the ministers of MOWAC`s member countries
have approved, during the 11th ordinary session of the organisation, held in
Abuja, Nigeria, six sub-regional projects and programmes.
These include the creation of developing policies on coasting-trade services
in the sub-region, facilitation of transport of goods in transit and the
creation of a sub-regional network integrated by coastal defence ships.
The constitution of an information and communication center of the
Memorandum of understanding on the control of ships by the State of the Port,
the sub regional cooperation for the reinforcement of the maritime academies
and the creation of a Regional Fund through the application of the new
functioning system of MOWAC, were the projects approved in the latest
conference.
MOWAC was constituted with a view, among other objectives, to harmonise and
co-ordinate developing policies of the member States in the fields of
maritime, transports, ports, promotion and development of mechanisms and
organisms suitable for the improvement of the maritime transports.
Prime Minister Happy With Farming Achievements
Lubango, 22/10 - The Angolan Prime Minister, Fernando da
Piedade Dias dos Santos, on Wednesday expressed his Government`s recognition
by the merits achieved by Huila province in the 2002/2003 agricultural season,
which placed it in the first place at national level.
The Prime Minister, who was speaking at a meeting with the populations of
Chibia municiality, 45 kms Southeast Lubango City, seized the opportunity to
launch an appeal for the remaining provinces to try to overcome Huila
production rates in the 2003/2004 season.
Fernando da Piedade, who started today a day and half visit to the province
expressed hope that Huila will not let be surpassed by other provinces with
well-known agricultural potentialities, such as Huambo, Benguela, Mlanje and
Kwanza-Sul.
The Prime Minister also seized the occasion to directly dialogue with the
youths in Chibia, from which he listened to some concerns and wishes, ranging
from electricity supply, telephone networks and University education.
On the occasion, the premier promised restore water and energy supply by
December the latest, and mentioned the need to curb some diffuculties in the
health sector.
As an example, he fingered out the province as a whole, with a population
estimated at around two and half million inhabitants but having only 39
Doctors, 36 of which working in Lubango, the province`s capital.
He urged for the adoption of strategies that gives priority to cadres training
in the most varied fields, like Phyiscians, Engineers, Agronomists and others.
On the country`s socio-economic situation, the Prime Minister admitted that it
is not yet the desired one, but said the economy starts improving because
there is a good control of inflation and of the exchange rate.
Meanwhile, in this first day of work to Huila province, Fernando da Piedade
reinaugurated three primary schools in Lubango city. The journey also included
visits to the workshop of machines for the rehabilitation of roads, the Chibia
Water Supply System and the works for the restoration of Ngandjelas Dam (Chibia),
paralysed since 1975.
He also visited the headquartes of Moçamedes Railways in Lubango and
afterwards received an important traditional delegation, the Bishop of Lubango
Diocese, Dom Zacarias Camuenho, and other religious leaders.
The program ended up with audiences with representatives of political parties
seating in Parliament.
On Thursday, his working agenda foresees a visit to Humpata watering perimeter,
22 kms Southeast Lubango, where he will also inaugurate a primary school.
After inaugurating the Angola-Telecom Digital Phone Station, in Lubango City,
and presiding over a Provincial Council meeting, the Prime Minister and his
entourage will move to the neighbouring Namibe province for a 24-hour
working-visit also.
Trade Might Exceed Two
Billion US Dollars
Luanda, Oct
22 - Trade between Angola and China might surpass two billion US Dollars by
the end of this year, the ambassador of that Asian country to Angola, Zhang
Beisan, said to Angop Wednesday in Luanda.
The Chinese diplomat said this after a meeting with the director general of
Angola Press Agency (ANGOP), Manuel Miguel de Carvalho "Wadijimbi".
"It is very possible that, till the end of this year, trade could surpass two
billion Us Dollars", said the diplomat, who seized the opportunity to offer
ANGOP some office equipment that included two television sets and a lap-top
computer.
He explained that according to statistics, from January to last August this
year, the rate of trade already exceeded 1,4 billion US Dollars which, to him
"maens that now there already is a main partnership with China in the commerce
sector".
He affirmed that petroleum is currently Angola`s most exported product, which
represents a budget surplus in commerce.
He mentioned that in 2002, Angola imported from China products amounting to
USD 100 million, while his country`s imports were of more than a billion US
Dollars.
Huíla: Electricity Company To Show
Premier Modernization Project
Lubango, 10/22- The Regional South directive board of the
National Electricity Company (ENE) will present to the Government a proposal to
modernize the electricity sector, with the aim to provide a better service to
the provinces of Huila (south) and Namibe (southwest).
The director of ENE, Celestino João, informed in this province that the plan
which is to be presented on Thursday, at a meeting that will be attended by the
Angolan prime minister, includes the complete reparation of the three set of
power generators installed at the Matala Hydroelectric Dam.
Although he did not disclose the monetary amount to be spent on the project,
Celestino João added that the programme will also be turned to the
rehabilitation of the power distribution network.
The project comes at a time that the provinces of Huila and Namibe are facing a
crisis with the supply of electricity, with daily restrictions on the supply
lasting twelve hours due to the technical problems being faced by the central of
distibution.
Since the year 2000 the Government has invested about 10 million US Dollars in
the rehabilitation of the Matala Dam and the power generators installed there,
yet there are still serious faults to be repaired, before there is an
improvement on the electricity supply in this region.
Premier Calls On US Businessmen To Join Reconstruction
Luanda, 21/10
- The Angolan Prime Minister, Fernando da Piedade Dias dos Santos, Monday
appealed for a major participation of US undertakers in the efforts of
reconstruction of Angola, so that this becomes also "a prosperous country and a
better place to live in".
"Our doors are opened to all those willing to help us live better", the Premier
said in a meeting held in Luanda with members of the 4th trade mission under the
US/Angola chamber of commerce.
When describing some potentialities of the country, the Prime Minister recalled
that 80 per cent of the vast Angolan territoty is arable land with relevant
reserves of diamonds, ornamental stones, cooper, gold, iron, phosphates, uranium
and other minerals.
He added that Angola also holds Africa`s biggest hydrographic potential and an
enviable fauna and flora.
Fernando da Piedade said the Government is seriously committed to strengthening
economic cooperation with the various countries and economic blocks of the globe,
and for that matter it has started the necessary reforms.
These reforms, he said, are substantiated in the approval of a new law of
private investment and in the adjustment and simplification of procedures for
the establishment of commercial societies.
The Government also revised the Customs policy, liberalized the cambial and
monetary markets and reduced the tax on profits, approved the new bill on fiscal
incentives and customs benefits, among others.
In the political scenario, the Prime Minister said the conquest of peace placed
the Angolan Government in an advantageous position and also renewed its
obligations and responsibilities, including the promotion of national
reconciliation and reconstruction, consolidation of democracy, respect for human
rights and good governance.
Sustainable development and the increase of the national richness and combat
against famine and unemployment, are other obligations and responsibilities of
the Government, he said.
The establishment of political and economic regional and international relations
were also fingered out by Fernando da Piedade Dias dos Santos as factors leading
to stability and development of Angola.
The Executive Director of the USA/Angola Chamber of Commerce, Paul Hare, assured
Fernando da Piedade that his country is still "committed" to Angola, through the
strenghtening of commercial and economic relations.
On his turn, the Association President Felipo Di Nardi promised to sensitize the
US business community to join this effort because he believes the future of
Angola depends very much on a strong and active private sector.
Around 20 US business people are included in the 4th mission to Angola,
representing sectors such as oil, civil construction, public works,
telecommunication and services and others.
Huambo: American Business Delegation Expected In
The Province
Huambo, Oct 21 - The visiting American delegation, in the country since Monday,
is expected in the central Huambo province for a few-hour visit to the province.
The delegation comprises twenty entrepreneurs who will check the works being
done in the Ngove Dam, which is 20 kilometres to the south of the province, and
also visit the premises of the Agronomic Investigation Institute and the
Agrarian Sciences Faculty.
The programme of visit that reached Angop includes visits to Huambo`s water
treatment and distribution centre in the river Kulimahala, the thermoelectricity
production centre of Benfica, the Central Hospital and the polytechnic institute
under reparation.
The American delegation has already had work meetings, in Luanda, with the
Government`s economic team and was received in audience by the prime minister,
Fernando da Piedade Dias dos Santos.
"Our doors are open to those who want to help us live better", said the premier
at Monday`s meeting with the visiting American delegation.
Seminar On "Business Environment In
Angola" This Wednesday
Luanda, Oct
21 - A seminar on "Business Environment In Angola" will take place on Wednesday,
here, in the British embassy, with the objective of collecting, among other
information, details on the country`s financial aspects, business opportunities
and the situation with the customs.
The seminar is being organised in the framework of the four-day visit to Angola
of a British delegation which will arrive today to do some additional research
on possible business opportunities for British companies involved in the sectors
of mining, electricity, telecommunications, water, transport and construction.
The British delegation is to have several meetings, including with officials
from, namely, the National Agency for Private Investiment (ANIP), Angolan
National Bank, Commerce Ministry and a delegation of the European Union.
Besides that, the visiting delegation will also visit other national and foreign
companies as well as state institutions.
This UK commercial mission is being organised by the consulting company BCCB and
the Southern Africa Business Association (SABA).
The delegation, headed by BCCB`s chairman, Lyn Edwards, will also meet with
government officials and representatives of organisations linked to the sectors
of economy and finance.
This will be the second British business delegation to visit Angola, after the
one that was in the country, in June, linked to the field of petroleum and gas.
All Africa Games:
Adérito Pedro Gets Bronze
Luanda, Oct
20 - Angolan chess player Adérito Pedro ended on Friday in his best form by
getting a bronze medal in the Abuja (Nigeria) 8th All Africa Games which ended
last Saturday.
In the last round the Angolan player drew with his Egyptian opponent, who
remained with the silver medal thanks to the play-offs system.
Thus, Angola`s number of medals adds up to 13, being three of gold, three of
silver and seven of bronze.
In the general standings, Angola came in the 12nd position of the tournament.
Luanda Bay's Urbanistic Project Presented
Luanda, 17/10 - The
Urbanistic Project of Luanda Bay which, among other aspects, is meant to enlarge
the Marginal Avenue, was Thursday presented to high national entities, including
the President of the Republic, Jose
Eduardo dos Santos.
Worth US 600 million dollars, the execution of the project will last 48 months
and the works are in charge of the building company "Luanda Water Fund
Cooporation".
Architect Francisco José Miguel, one of the Engineers of this project, said the
works are scheduled to start within the first quarter of 2004, and explained
that preliminary studies indicated that a dredging and cleaning process of
around four million cubic metres of sand covering all project area should be
carried out.
Amongst the alterations foreseen on Marginal Avenue, is included its enlargement
to between 40 and 80 cubic metres and creation of spaces for new roadways, he
explained, adding that it will allow the lessening of traffic jams.
"We intend that this avenue could have much more infrastructures of services and
renew the already existing ones", Engineer Jose Miguel said, adding that the
project will create more than 2,000 jobs for national citizens during the phase
of construcion and about 1,200 permanent workposts in the following phase, and
other benefits.
According to him, the fiscal revenues of this undertaking will benefit the
touristic activity of the country`s capital.
A 20-minute documentary on the main aspects related to culture, urbanism and the
life style of Luanda citizens was presented at the begining of the ceremony.
Luanda, Oct 17 - Angolan Cabinet
Council analyses since Friday morning, in Luanda, among other issues, an
Executive Decree project which exempts the importing of specific goods needing
pre-shipment inspection.
Chaired by the President of the Republic, José Eduardo dos Santos, the meeting
also covers issues concerning the approval of contracts for the acquisition of
food stuff for the Defence sector and Police organisms as well as a project to
solve the issue about the exploration of sand in the Angolan capital, Luanda.
A project of building a market in Luanda, in the former "comandante Gika"
military school, and a discussion about finishing the construction works of
the Justice Palace, located in the Ingombota district, in the same province,
are also being analysed in the meeting.
The Cabinet Council also discusses a draft project which approves the
regulations on the prices of the public services provided by the
telecommunications and an additional agreement for the construction and
technical assistance to the Government to Angola by the Intenational Atomic
Energy Agency.
Sao-Tome Premier Ends Visit
Luanda, Oct 9 - The Prime-Minister of Sao-Tome & Principe,
Maria das neves Ceita, finished today her official visit to Angola, which
started on Tuesday, having been received in audience, on that day, by the Head
of State, José Eduardo dos Santos.
On her last day of visit (Thursday), Maria das Neves Ceita and the Angolan
Prime-Minister, Fernando Dias dos Santos, signed some cooperation protocols in
the areas of tourism and petrol. A verbal process was also signed by the Foreign
Affairs ministers of both countries, namely, João Miranda (Angola) and João
Meira Rita (Sao-Tome & Principe).
On Wednesday, the Angolan Premier manifested his hopes that the visit of his
Sao-Tome counterpart may represent a new era in the bilateral cooperation
relations between the two countries.
On her turn, Maria das Neves assured that this visit will certainly create the
conditions for new achievements, enabling the widening and strengthening of
relations between the two peoples and countries.
Still on Wednesday she was received in audience by the National Assembly`s
Speaker, Roberto de Almeida, with whom she discussed the existing friendship and
cooperation relations between the two countries.
Maria das Neves informed that her Government intends to strengthen the
cooperation with Angola in the fishing sector, particularly in staff training,
exchange and in controlling the quality of sea products as well as the quality
of salt.
She expressed that during her visit to the Marine Investigation Institute,
having afterwards visited the Staff Training Institute of Bungo as well as the
construction site where her country`s embassy is being built.
On Thursday morning the Sao-Tome Premier visited the Journalists Training
Centre, afterwards she had a meeting with the ruling MPLA`s Secretary General,
João Lourenço.
Maria das Neves Ceita had a meeting also with the Sao-Tome & Principe community
residing in Luanda, which took place in the present premises of the embassy.
This was the first official visit to Angola of the Sao-Tome Prime-Minister.
Angola and Sao-Tome & Principe are two of Africa`s Portuguese speaking
countries,sharing strong historical ties, dating back from the struggle for
independence.
Cabinda: Chevron Texaco Will Operate Beyond 2010
Cabinda, Oct 06 - The American oil company Chevron Texaco, may keep operating in
the northern Cabinda province beyond the year 2010, said Monday to Angop, the
company`s director for operations and production on the Blocs 0, 14 and 2,
Daniel Rocha.
Speaking about the end of the exploration contract in 2010, Daniel Rocha said
that the company has excellent relations with the Angolan Government, so, they
think it will be possible to continue the explorations in Cabinda, beyond that
period.
He explained that Chevron Texaco does not need to be in competition with other
companies, having added that "Our activities have deserved the consideration
from the Angolan authority, mainly, the Sonangol (State-owned oil company)".
The director said that Chevron Texaco and associates have followed the
regulations outlined by Sonangol and the Angolan State, concerning the
protection and preservation of the Ecosystem.
Daniel Rocha said also that his programme, which is called "Estamos Juntos Com A
Comunidade" (We Are Together With The Community), has received a lot of praises
from the people of Cabinda and others, reason why, he said, "We will strengthen
and deepen even more our actions in the whole of the Cabinda province."
BP To Invest USD 8 Billion In Angola By 2010
Luanda, Oct 06 - The Executive Chairman of the multinational energy and gas
British Petroleum (BP), Lord Browne, said Monday, in Luanda, that his company
will by the end of this decade invest in Angola about USD 8 billion.
In Luanda since Monday morning, Lord Browne was speaking to press after a
40-minute meeting with the President of the Republic, José Eduardo dos Santos.
"I discussed with the President everything that BP has done in Angola, its
future and investments that this multinational will still make in the country",
said Lord Browne who leaves Luanda in the next few hours, after meeting with the
Minister of Petroleum, Desidério Costa, and with the Chairman of the Board of
Sonangol, Manuel Vicente.
The activities of this multinational in the country "have been a success" and
are turned, in the last times, to discoveries of blocks 15, 17, 18 and 31, he
added.
The businessman said that BP should also train at least 700 Angolans in the area
of Petroleum and gas, in Angola and abroad, specifically in South Africa.
A press note from its representation in Angola states that BP is one of the
biggest companies of Energy in the world, with reserves of petroleum and gas
estimated at about 18 billion barrels in 24 countries.
Last year it produced more than 2 million barrels of petroleum and around 8
billion cubic of gas daily. Angola is an important component of the activities
of exploration and production in the whole world, being one of the six areas
that expects significant growth.
He adds that BP Angola and its partners, including Sonangol, play an important
part in the commitment and creation of opportunities to support the
reconstruction of the country.
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Jorge Valentim warns that credits will be granted
only to investors meeting banking requirements
Luanda, 29/09 - Starting from this month of September,
Angolan investors in hotelry and touristic sectors can now easily get bank
credits from the commercial financial institutions.
The information was revealed in Luanda, on Saturday, by
the Minister of Hotelry and Tourism, Jorge Valentim, at a central ceremony
that marked the World`s Tourism Day, that this year happened under the
motto "Tourism, a key tool to fight poverty, create jobs and social
harmony".
The initiative arises from the Government policies
which targets the recovery of national hotels and touristic
infrastructures, as a way to meaningfully contribute to the development of
the national economy.
As the Minister said, the credits will be granted only
to those companies capable of paying back the loans. Lack of credits was
one of the main constraints the business community claimed to be behind
the underdevelopment of the sector.
Meanwhile, Administration Board Chairman with BPC (savings
and credit bank), Mr. PaixÒo J·nior, said lack of guarantees from the
economic agents have prevented the granting of credits.
Figueres from the Ministry of Hotelry and Tourism
indicate that tourism contributes with $10 million US dollars every year,
while organisations and private companies earn as much as 32 million.
BENGUELA: INDUSTRIAL PARK TO BE PRIVATIZED
Benguela, 29/09 - The country`s
industrial park will be the target of private management or privatization
in the framework of the changing taking place in the Angolan society, said
on Monday Industry Minister, Mr Joaquim David.
Speaking to ANGOP, during a three-day official working visit, that started
on Monday in South-west Benguela province, in quality of coordinator of
the 2003/04 programme, the minister said that the step aims to redynamize
the industrial sector of the country, after being devastated by a long
civil war.
WTO SUGGESTS MAJOR
INVESTMENTS IN TOURISM
Luanda, Sept 25 - The growth of
several countries, especially those in development, could get a boost
through tourism as a means to reduce poverty and unemployment.
This was said today in Luanda by the World Tourism Organisation (WTO)
secretary general, Francesco Frangial.
According to him in a press note released today on the occasion of the
World Tourism Day, September 27, with four billion people affected by
poverty, two billion of whom surviving on one Us dollar a day, the WTO has
set as its goal to this millennium to incentive governments to see tourism
as a way out of these frightening figures.
The source also said that one of the mechanisms his organisation will
adopt to improve cooperation with states will be its adhesion to the
United Nations in its capacity as a specialised institution to work
directly on these cases.
With a view to major contributes from tourism, Francesco Frangial said
that the WTO has joined other multilateral and bilateral donor
organisations that will focus their action on the least advanced countries.
He said that in view of political constraints, ecological and natural
disasters, international conflicts and diseases affecting tourism, his
organisation was sure that tourism has the power to contribute to the
relief of extreme poverty, and improvement of social harmony.
This is undeniable in view of the direct and indirect job opportunity that
tourism offers and the long lasting economic success of tourism companies.
ENDIAMA PROFITS OVER 300
MILLION DOLLARS IN HALF YEAR
Luanda, Sept 23 - The State-run National Diamond Company of Angola (Endiama)
and its associates, in the first six months of the year 2003, obtained a
profit of 329,491,944.20 US Dollars, resulting from a sale of 2,714,938
carats.
According to a Press note, the above mentioned figures represent an
increase in relation to the amount obtained last year, in the same period,
in which was sold 2,164,043 carats, having brought to Endiama and its
associates an income of 303,038,456.50 US Dollars.
This information comes on the report of activities presented at the third
meeting of Endiama`s Broad Consultive Council which took place last Friday
and served for participants to make a balance of the activities programme
for the January-June 2003 period.
The report states that Endiama and associates have registered an increase
on the production and commercialisation of diamonds, having used part of
the sum to the benefit of the communities in diamond production areas and
in some social sectors.
The same note states that the positive increase is due to the fact that
the diamond production and exploration activity is now being carried out
in a climate of peace and also because operational as well as
transportation and material costs have been reduced, besides other
factors.
The meeting was presided over over by the Endiama`s chairman of the
Administration Council, Arnaldo de Sousa Calado, it equally served for
participants to analyse the plan of activities for 2004 and the budget for
the same year as well as the study made on Endiama`s Technical, economic
and financial aspects, elaborated by the international auditing company,
Price Water House Coopers.
Attended by several Endiama technicians and its associates, the meeting
was witnessed by the deputy minister for Geology and Mining, Samuel
Armando Tito.
OIL GROUP "TOTALFINAELF"
CHANGE NAME
Luanda, Sep 22, 2003 (Angola Press
Agency/All Africa Global Media via COMTEX)
-- The oil group "TotalFinaElf" that resulted from the association of the
companies Total, Fina and Elf recently decided to change its designation
now being called "Total E&P".
This took place in Paris during a general assembly of shareholders chaired
by the group's director general, Thiery Desmarst. The information is
contained in a release distributed to Angop today stating that the world
oil group "Total" is based in all continents, with investments for 2003
estimated at 8.7 billion Euros, 875 million of which in Angola, which is
one of its most prominent zones of activity.
Highly engaged in social and environmental matters, Total is currently
committed to reducing by 30 percent the environmental impact of gas
emissions.
Total is thus associated with Angola's oil firm Sonangol and other
partners in the Lng project. The press note states that the former
designation represented the growth of the group through mergers and after
three years of integration it was now high time a new name and simple but
strong and internationally renowned logo was put in place.
IACO SECRETARY-GENERAL
TAKES NEW POST
Luanda, Sept 23 - The Secretary-General of the
Inter-African Coffee Organisation, Angolan Josefa Sacko will be sworn in,
on 24-25 September, in London, as the Head for Africa of the Governors
Council of the International Centre for Agriculture and Bio-Science.
Josefa Sacko who was appointed on July, said to Angop that it is not a
permanent post, and she is only going to take part in the meetings held by
the Council of Governors, three times a year.
She explained that the referred centre deals with all matters related with
agricultural development in the countries members of the organisation.
Josefa Sacko explained that this comes at an opportune time, because,
several issues linked to agriculture have been considered as priority
points in the programme of the New Economic Partnership for African
Development (NEPAD).
The Centre for Agriculture and Bio-Science comprises 104 countries,
including, the USA and Canada.
HOUSTON
MAYOR ENDS VISIT
Luanda, Sept 12 - US Houston
city mayor, Lee Brown, wound up his four-day working visit to Angola,
after having signed on Thursday a systerly
agreement with Luanda. Angolan capital is Africa`s
first to sign such a systerly agreement with
Houston and the world`s 17th.
Under the accord, the two
cities agree, in a spirit of "friendship and goodwill", to cooperate to
the mutual benefit of the two communities, exploring existing economic,
educational and cultural opportunities.
The agreement states that the
two parties have a common interest in the areas of energy, development of
infrastructures, transports, technology and promotion of a mutual
understanding between their citizens.
Lee Brown was at the head of
amltisectoral
delegation engaged in seeking business opportunities. Houston, with about
4.8 million inhabitants, is US`s fourth major
city, world`s energy headquarters, and centre
of NASA`s Johnson spcial
station. It has the world`s best airport and
its port is the US`s first in load handling
capacity.
While in Angola, Lee Brown was
separately received in audience by the head of State, José Eduardo dos
Santos and by the National Assembly`s
(parliament) speaker, Roberto de Almeida. He also met with various local
Government officials.
LUANDA GOVERNOR
SAYS COOPERATION WITH HOUSTON WILL REDUCE POVERTY
Luanda, Sept 11 - The Governor of Luanda Province,
Simão Paulo, Wednesday said here that
the germination of United States` Houston city
will boost job opportunities and, therefore, reduce poverty.
The Governor was
was delivering a speech at "HeróisdasChaves" Park,
during a dinner party he offered to the Houston delegation, which is in
Angola since Tuesday for a 4-day working visit with a view to geminate
Luanda with that American city.The visiting delegation
integrates Houston Mayor, Lee Brown, and members of his office,
politicians and businessmen.
Mr Simão
Paulo said that, taking into account the level achieved, Houston can help
Luanda restore its green zones and its industrial apparatus, which was the
biggest in the country until 1973, and secure employment for thousands of
Luanda citizens.Simão
Paulo underlined that the marine cost renders easy the fishing activity
and the development of nautical sports, and encouraged implementation of
profitable investments in the areas of tourism,
hotelry and transports.
He added that the cooperation
can also be extended to the fields of basic sanitation, health assistance,
water, energy and other mutually advantageous sectors.
Simão
Paulo said he expects an open and transparent
cooperation, that gives emphasis to constructive judgement.
On his turn, Lee Brown thanked
the "exceptional" hospitality paid to him and expressed desire that his
city could contribute to the development of Luanda, in the most varied
sectors, in the coming years.
Animated by traditional and
modern musical bands of dancers, the dinner party was attended by
Government members, religious entities, representatives of business
associations, US Embassy officials, among other
individualities.
BRAZILIAN BUSINESSMEN TO
INVEST IN INDUSTRY
Luanda, Sept 5 - Brazilian businessmen from Bahia region will soon invest
in Angola`s sectors of clothing industry, construction materials, leather
items, beverages and foodstuffs.
The chairman of the Bahia International Business Centre (PROMO), João
Alfredo, said the Brazilian businessmen will invest in those areas because
they think it to be necessary to create jobs and relaunch the Angolan
economy.
Speaking at the end of a meeting with industry ministry staff, João
Alfredo said also his centre is seeking investment opportunities and set
up partnerships with Angolan firms to the benefit of the two parties.
PROMO will soon sign cooperation accords with Angolan institutions under
the country`s reformed foreign investment law, it was also announced.
According to PROMO chairman on Thursday a new soft drinks factory will be
built in Angola, under an investment estimated at one mission Usd.
He said as well negotiations on the soft drinks factory are in advanced
stage and the project might be ready by December this year for the start
of construction thereafter.
Assorted foodstuffs, construction materials and shoes are among the items
traded between Angola and Brazil.
KUANZA-SUL: PRESIDENT CHECKS GOVERNMENT PROGRAMMES
Sumbe, 09/05 - Angolan head of State José Eduardo dos Santos said today in
Sumbe, central Kwanza-Sul province, his trip to the region was aimed at
learning about the pace of implementation of Government programmes
approved last year.
Speaking to a mob of thousands on arrival at Sumbe airport, Jose Eduardo
dos Santos said the moneys for the implementation of those programmes
started to be released this year.
He also said that during his visits to various parts of the country last
year, it was discussed what should be done in each of the provinces.
According to president Dos Santos he is aware of some realisations in the
province.
"There is a great will to work and transform, make the lives of people to
improve", he stated.
To him, "there is work in agriculture and livestock. Old farms are being
rehabilitated; there is much activity in the cities, some businessmen have
become more active, they started to realise some undertakings, some are
ready to be inaugurated, on State`s or private money".
REHABILITATION OF CFB COUNTS WITH INTERNATIONAL AID
Benguela, 09/05 - The International
Union of Railways will support the rehabilitation of Benguela Railways (CFB),
due to its importance in the socio-economic development of the country,
said Wednesday in Lobito, the representative of that organisation in
Africa, Baam Le Roux.
Speaking at the end of a visit to the CFB, Mr. Roux explained that the
rehabilitation of the railway and staff training are some key actions for
the materialization of that project.
"The representation of the International Union of
Railways in Africa will attract investments for the execution of actions
meant for the rehabilitation of the Benguela Railways", said the official
without disclosing the sums involved in that activity.
After visiting its branch offices, he met with the director of the
undertaking, Daniel Quipaxe, from whom he received informations about the
perspectives for the future.
The International Union of Railways controls currently a total of 162
members. Angop has learnt that, in a first stage, five railways are
expected to be restored.
On the other hand, CFB management foresees the restoration of the main
dockyard located in Luau, Angola`s eastern Moxico province, in order to
help recover 10 kms railway stretch between Luau and the border with DR
Congo.
MOÇAMEDES
RAILWAY FIRM NEEDS US 18 MILLION DOLLARS
Lubango, 09/04 - The Moçamedes Railway Firm (CFM)
awaits for us 18 million dollars, approved this year by the Angolan
Government for the rehabilitation of Namibe/Matala branch line, said its
acting Director, Jose Correia.
According to him, this amount will serve for bridge`s rehabilitation and
acqusition of 508,800 crossbars to cover 424 kilometres between the two
localities.
Cfm also needs other amount to get at least three machines as the six
existing function feebly because are antiques.
It is the longest railway countrywide totalizing 424 kilometres between
Namibe city to Matala district in Southern Huila province.
NEW
BILL ON PRIVATE INVESTMENT THOUGHT TO BE SAFE
Luanda, Aug
19 - The investment facilities and incentives outlined in the
country`s recently approved new bill on
investment, will soon allow investors to develop their activities with
greater security and in the various macro-economic areas of the country,
as Angop learned from the opinions expressed
by several business people.
This was one of the conclusions reached on Tuesday by several investors,
economists, lawyers and other agents, during a debate held in the
premises of the National Agency for Private Investment (ANIP) whose
subjects of discussion were those such as the Monetary Requirements for
External Investment (which is of 100.000 US Dollars minimum and 50.000
US Dollars for internal capital) and the Ways of Distributing Incentives
for Investiment.
As regard to the Incentive Bill, the lawyer Manuel
Gonçalves is of the opinion that the Government has to really
make sure it is put into practice. The referred bill divides the country
in three investment zones denominated A, B and C. The lawyer Teresa
Lopes defends that it has to be done a correct publicity of the approved
Investiment Bill and that it is necessary
that people be aware of those points in the law that should be improved,
in the future, in case it becomes necessary.
According to the administrator of ANIP and promoter of the event,
AriCarvalho,
this debate is part of a series of activities intended to publicise and
find mechanisms to attract investment for the country. He informed that
the same activities will be carried out abroad so as to inform people of
the country`s
investiment potentials.
The new Bill on Private Investment was approved on April 01, 2003.
HEAD OF STATE CONGRATULATES
BASKETBALL TEAM
Luanda, 08/17 - The Angolan Head
of State, José Eduardo dos Santos, on Saturday congratulated the
national basketball male team for the consquest of the 22º African
championship held in Alexandria (Egyipt), from August 06-16, 2003.
"It was with a deep joy that I received this important victory of our
basketball players, who for the seven consecutive time win the African
championship, the Afrobasket 2003", says the President in his message.
He adds, saying "the country prides itself for this odd prowess of our
representatives. I hope that this triunph diffcult to make equal serves
as motivation for the holding of other works in various domains of the
national life".
The Head of State also congratulated all athletes who could raise up so
high, once more, Angola`s name", and estended it to the coachs`s team
and the direction of the Angolan Federation of Basketball, for this
success that belongs to us.
ANGOLAN GOVERNMENT APPROVES DIAMOND CONTROL REGULATIONS
By Sheryl Katz - Posted: 7/16/2003
(Rapaport… July 16, 2003) The Angolan Cabinet Council
approved on July 14, 2003, several draft decrees containing security
regulations for setting up a diamond monitoring and certification
mechanism in accordance with the Kimberley process. The Kimberley
Process requires governments and the diamond industry to implement
import-export controls to stamp out conflict diamonds.
According to the deputy minister of Geology and Mining, Makenda Ambroise,
these security measures fall within the framework of internal security,
which reinforces the rules on how diamond certification must be used
internally and how to deal with rough diamonds in the country.
Non Governmental Organization, Global Witness, welcomed the government’s
decree. However, Corinna Gilfillan of Global Witness reiterates the
groups belief that an independent monitoring mechanism needs to be set
up to evaluate country programs in relation to the Kimberley Process.
“The next step we’d like to see is participants of the Kimberley Process,
including Angola, agreeing to regular independent monitoring to ensure
that the process is working and not open to abuse. There needs to be
some accountability in the whole process, and right now we don’t see
that. We’ve been pressing for regular independent monitoring,” Gilfillan
stressed.
Gilfillan noted that by passing the regulations Angola was merely
meeting the “minimum requirements” of the Kimberley Process.
COMMERCE MINISTRY ENACTS PRICE COMPETITION BILL
Luanda, 07/09 - The implementation of a new regulation on prices and the
Bill on Competitiveness will reduce the high price of commodity goods
and other products, said Wednesday, here, the head of department of the
Commerce Ministry, Assunção Pereira.
Assunção Pereira made this statement during a seminar that started
Tuesday on "The Incidence of Customs Policies on the Prices of Goods as
Seen by Consumers". In speaking about present pricing policies, the
official said that the fact that specific consumer rights have not yet
been passed as law has been causing prices to shoot up, adding that it
is about time traders used scales and weights in their transactions, and
it is necessary a new regulamentation of the consumers right bill.
Assunção Pereira also mentioned that the Government will publish minimum
prices for agricultural products at the beginning of every harvest, will
institutionalize food storing programmes as well as develop policies to
stabilize prices and the exchange rate.
The seminar which finished Wednesday was attended by commerce department
directors, customs officials, members of the Angolan Consumers
Association, among others.
COFFEE REHABILITATION PROGRAMME IN PIPELINE
Luanda, 07/03 - A Usd 26 million programme of support and rehabilitation
of the coffee sector, will be implemented in nine of Angola`s 18 provinces,
with a view to the expansion and increment of coffee production in the
country.
The programme designed by the National Institute of Coffee (INCA) with
assistance from the Governments of the nine producing provinces (Cabinda,
Uíge, Kwanza-Norte, Kwanza-Sul, Benguela, Malange, Bengo, Bié and Huambo),
is awaiting the approval from the Council of Ministers.
INCA`s general director, Manuel Dias, revealed that the project, drafted
in May 2002, the time when it was submitted to the Council of Ministers,
will be implemented in stages, over a three months period.
The first stage will focus on the rehabilitation of already existing
coffee trees, plants and on the cutting and regeneration of strong and "Amboim"
coffee species.
Another component will include the family-business sector, the
strengthening of the institutional capacity of INCA and the
commercialisation of coffee which is still owned by coffee growers.
Till 1973, Angola used to export annualy about 200.000 tonnes of coffee.
BIE: LOCAL GOVERNMENT TO BUILD 200 HOUSES
Kuito, 07/03 - The provincial Government of central
Bie province will spend about USD 2-million in the construction of 200
houses to accommodate staff from other regions that will work in the
province.
According to the provincial director for Studies and Planning`s Office,
Afonso Assafe, the implementation of this project is included in the
framework of the Special Programme for Kuito`s Reconstruction (PEMIRK).
PEMIRK, conceived in 2002 by Bie Provincial Government, is estimated at
USD 41-million and includes also the rehabilitation of some
infrastructures destroyed during the civil war.
THE EXPORT-IMPORT BANK OF THE U.S. AFRICA UPDATE July 2003
The Export-Import Bank of the United States
is an independent US government agency
that assists in financing the export
of US goods and services
primarily to emerging markets
throughout the world by providing loan guarantees, export
credit insurance and direct loans.
This publication
aims to highlight the Bank's activities and continued
commitment to expand trade with sub-Saharan Africa.
HIGHLIGHTS:
President Bush addresses attendees of the
Corporate Council on Africa's U.S.-Africa Business Summit on the
U.S.-Africa Partnership
· Ex-Im Bank
participates in Corporate Council on Africa's U.S.-Africa
Business Summit
· Ex-Im Bank holds
its second meeting the year of the Sub-Saharan
Africa Advisory Committee
· Ex-Im Bank helps
Raytheon Aircraft Company sell Beech aircraft to new
Nigerian airline Overland Airways
· Bank of Africa of
Benin and Standard Bank of South Africa sign Master
Guarantee Agreements with Ex-Im Bank
· Recent
Authorizations
Guarantees
and Insurance
PLEASE VISIT EX-IM BANK'S NEWLY REDESIGNED
WEBSITE AT WWW.EXIM.GOV
PRESIDENT BUSH
ADDRESSES ATTENDEES OF THE CORPORATE COUNCIL ON AFRICA'S U.S.-AFRICA BUSINESS SUMMIT
ON THE U.S.-AFRICA PARTNERSHIP
Key points of President Bush's speech at the
Corporate Council on Africa's
U.S.-Africa Business Summit on June 26 included the following:
Peace and Security
-The President urges the nine nations
involved in the 5-year war in Congo to support
the establishment of a transitional government by June 30th.
-President Taylor of Liberia must step down
and the country must move toward a
comprehensive peace agreement.
-In Sudan, both sides in the civil war must
make their final commitment to peace.
-The United States will devote $100 million
over the next 15 months to help Kenya, Ethiopia, Djibouti, Uganda, and
Tanzania increase their counter-terrorism efforts.
Health and Literacy
-The $15 billion AIDS package approved by
Congress will prevent 7 million
new HIV infections, treat at
least 2 million people with life extending drugs and provide
humane care for 10 million HIV-infected individuals and AIDS
orphans.
-This year the U.S. will provide more than
$800 million for the food emergencies on
the continent.
-The U.S. is committing $200 million over
five years to train more than 420,000 teachers
in Africa, to provide scholarships to 250,000 African girls, and
to
partner historically black universities in
America in bringing 4 million textbooks to African
children.
Aid and Trade
-The President has proposed a 50 percent
increase in America's core
development assistance through the Millennium
Challenge Account.
-The President is calling on Congress to
extend the African Growth and Opportunity Act through 2008, to give
businesses the confidence to make
long-term investments in Africa.
EX-IM BANK
PARTICIPATES IN CORPORATE COUNCIL ON
AFRICA'S U.S.-AFRICA BUSINESS SUMMIT
The Corporate
Council on Africa (CCA) organized a premier gathering of
business
and government leaders united by their
shared commitment to
promoting trade and investment between
the U.S. and Africa. This year the
U.S.-Africa Business Summit
was held at the Washington Hilton Hotel in
Washington D.C.
from June 24-27. The summit's
theme was "Building
Partnerships."
As part
of the summit, a trade show was open for the entire four days of
the
Summit. This provided
exhibitors the opportunity to showcase their company's
products and services to a wide audience of African and American businesses
and government officials. Ex-Im Bank received many attendees at
its booth and designated a
special area adjacent to the booth for individual
meetings to discuss transactions in further detail and to meet with
key U.S. exporters, African buyers and
U.S. and foreign banking
institutions.
In addition
to the booth, Ex-Im officials spoke on a number of
panels
throughout the event.
§ John Richter, Regional
Director for Africa, spoke on the panel
"Financing Improvements in African Aviation."
§
John Emens, Vice President, Trade Finance and
Insurance Division,
spoke
on the panel "Algeria's Energy Sector: Where Now?"
§ Joe
Grandmaison, Member, Board of Directors, spoke on the panel
"Using Multilateral and Bilateral
Institutions to Reduce African Investment Risk."
§
Maureen Scurry, Business Development Officer, Africa,
spoke on the
panel
"ABCs of Export/Import Trade."
In addition
to meetings at the CCA Summit, Ex-Im Bank officials met with a
number
of the African government delegations during the week to learn
of
specific opportunities and
to discuss the importance of extending medium-term finance to
additional countries in Africa.
EX-IM BANK
HOLDS ITS SECOND MEETING OF THE YEAR OF THE SUB-SAHARAN AFRICA
ADVISORY COMMITTEE
The second meeting of this year's
Sub-Saharan Africa Advisory Committee was
held at Ex-Im Bank on June 24
to coincide with the Corporate Council on
Africa's U.S.-Africa Business Summit. Marysue K. Shore, Director of
African Affairs at the
Overseas Private Investment Corporation, opened the meeting
with
details on what OPIC is doing related
to Africa. Various Ex-Im
officials
discussed relationship-building efforts including those with U.S.
commercial
banks, the African Trade Insurance Agency, other U.S. government
agencies,
the World Bank, and the proposed Millennium Fund.
Also discussed
by the committee was the debt reduction moratorium imposed
by
the U.S. government, which does not allow for the
extension of new,
non-concessional lending to sovereign governments
that have recently agreed to IMF debt
reduction. The moratorium lasts for a period extending one
full
year from the date of their IMF debt reduction agreement.
Another issue raised by the committee was
the starting point at which Ex-Im begins
cover, currently set as the date of shipment. U.S. companies
have
stated
that because of the added time of transshipment through Europe, the
first
payment often comes due before the buyer receives the products.
The
committee asked that Ex-Im Bank review
this policy and consider taking it up with the OECD if
necessary.
The Ex-Im
Bank structured finance team discussed the ability of Ex-Im Bank
to
use special features to enhance the credit of the borrower for
smaller
project
in Africa that are too large to be feasible strictly on a balance
sheet
but too small to merit the tie and expense associated with
project
finance
transactions. Companies that
lack sufficient credit strength in terms of
asset size, operating history, or cash flows can still meet the standards necessary
for reasonable assurance of repayment by agreeing to use
special purpose accounts, covenants and default
provisions.
Another
option is to have a sponsor or other
third party pledge letters of credit or other
sources of funds to Ex-Im Bank. Borrowers
and other parties interested
in small project structured finance
should contact the
Structured Finance Division
at Ex-Im Bank by phone (202-565-3690) or e- mail (structuredfinance@exim.gov).
The committee also discussed the possibility
of expanded Ex-Im Bank program parameters
for transportation security exports, Ex-Im Bank's North Africa
and
sub-Saharan Africa business development strategies,
and efforts to
extend
Ex-Im Bank's reach in French-speaking African markets.
EX-IM BANK
HELPS RAYTHEON AIRCRAFT COMPANY SELL BEECH
AIRCRAFT TO NEW
NIGERIAN AIRLINE
The Export-Import Bank of the United States
(Ex-Im Bank) is providing a medium-term
direct loan to support the export of two Beech 1900D aircraft
by Raytheon Aircraft Company of Wichita, Kansas, to Overland
Airways Ltd., a new airline in Lagos,
Nigeria. This is the first Ex-Im Bank-financed aircraft transaction in Nigeria in a number of years. The aircraft are
expected
to be delivered and placed in service by mid-August 2003.
"Ex-Im Bank is pleased to support Raytheon
Aircraft Company in this transaction. Nigeria
has a growing demand for air transportation services
and is an important emerging market in sub-Saharan
Africa for U.S.-manufactured
aircraft. We look forward to doing more aircraft business
in this market," said J. Joseph Grandmaison, a member
of Ex-Im Bank's board
of directors.
"Raytheon is delighted to be involved with
Overland Airways and Ex-Im Bank in
providing expanded and reliable domestic air transport in Nigeria. The
Beech 1900D is the perfect
aircraft to meet Overland's mission requirements,"
said Andrew Mathews, vice president of Asset Finance for
Raytheon Airline Aviation Services.
Overland Airways Ltd. is
a new Nigerian registered airline that plans to offer
scheduled and charter passenger services within Nigeria and on some
routes
to neighboring countries. The airline is affiliated with Landover
Company Ltd., an established
aviation services firm in Lagos, Nigeria. Ex-Im Bank's five-year direct
loan is guaranteed by Capital Bank International Ltd.
of Lagos, Nigeria, and Landover Company Ltd.
BANK OF
AFRICA OF BENIN AND STANDARD BANK OF SOUTH AFRICA
SIGN MASTER
GUARANTEE AGREEMENTS WITH EX-IM BANK
Ex-Im Bank announced the signing of new
master guarantee agreements with Standard Bank of South Africa and the
Bank of Africa to broaden its ability
to finance the purchase of U.S. goods and services in
Africa.
"While our mission at Ex-Im Bank obviously
includes promoting U.S. exports, our
method is to provide new and/or additional competitive financing for
the African marketplace," said J. Joseph Grandmaison,
a member of the Ex-Im Bank
board of directors. "Working with strong banking partners is key to
achieving that goal. We believe that the availability
of medium-term financing in Africa is
absolutely necessary to allow for the healthy growth of the
African economy."
Standard Bank of South Africa is a leading
international bank in southern Africa, and Bank of Africa, which has its
headquarters in Cotonou, Republic of
Benin, also has offices in Burkina Faso, Cote d'Ivoire, Madagascar,
Niger and Senegal. Ex-Im Bank
already has master guarantee agreements in Egypt, Mozambique, Nigeria, and
South Africa, as well as with the Eastern and
Southern African Trade and Development Bank (PTA Bank) of Nairobi,
Kenya, which
serves several countries in eastern Africa.
Business development contacts:
Maureen Scurry, Ex-Im Bank, (202) 565-3905, or
maureen.scurry@exim.gov
Ahjeeth Jaijai, Standard Bank of South Africa, 011-27-63-64-129
Constantin O. Azon, Bank of Africa, 011-229-31-32-28
RECENT AUTHORIZATIONS:
MEDIUM TERM LOAN GUARANTEES & INSURANCE:
NIGERIA:
Ex-Im Bank
recently approved a $934,000 medium-term guarantee to support
the
export of Mack trucks to Ekili Investments Ltd. of
Lagos, Nigeria. The U.S.
exporter and supplier on this transaction is Mack Trucks,
Allentown,PA.
Allfirst Bank, a division of
M&T Bank, Baltimore, Maryland is the guaranteed lender
and the guarantors are Chike and Emeka Arize and Broad
Bank, Lagos, Nigeria.
Ex-Im Bank
approved M&T Bank, N.A., Baltimore, MD
for comprehensive
coverage
under a medium-term single sale, multiple
shipments insurance
policy
in the amount of $928,614.
This loan will support the sale of various types of
telecommunications equipment and software to Leading Edge
Ltd., Lagos,
Nigeria from Communication Production Development,
Inc.,
Vancouver, WA.
Universal Trust Bank of Nigeria PLC, Lagos, Nigeria, will guarantee
the transaction. The exporter on this transaction Communication
Production Development, Inc.
and the equipment will be supplied both by CPD and
Tesso Technologies, Inc., Hunt Valley, MD.
CAMEROON:
Ex-Im Bank
recently approved a $1.5 million medium-term
comprehensive
guarantee
to support the export sale of a palm oil refining equipment line
and
2 Kato light generators to Bangari
Sarl, Douala, Cameroon. The
equipment
will be used to expand and grow Bangari's palm oil business. The
exporter
is Hoffman International Inc., Piscataway, NJ.
Shipments will
occur
between September and December 2003. Hoffman is responsible for the
installation of the equipment. The guaranteed lender
on this transaction is PNC
Bank, Pittsburgh, Pennsylvania and Roger F. Tchokogue, Douala, Cameroon
is the guarantor.
The United
States Export-Import Bank is an independent U.S.
government
agency
that assists in financing the export of U.S. goods and services to
ndustrializing and developing
markets all over the world by providing
loans, loan guarantees, and export credit insurance.
We invite
you to visit Ex-Im Bank's newly
redesigned web site at
www.exim.gov
We encourage
you to share this publication with your associates or you may
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them to our mail list by sending us an e-mail at https://apps.exim.gov/apps/sec508/eximafrica.nsf/contactform?openform.
At any time you may unsubscribe to this
service by sending us an e-mail at ExImAfrica@exim.gov.
REBUILDING OF
ANGOLA BRINGS RICH REWARDS
THE reconstruction of war-ravaged Angola is bringing in millions of rands
in foreign exchange for SA companies. Nico Maas, president of the Building
Industries Federation of SA (Bifsa), says SA companies are building many
commercial buildings in Angola. "Because of the destruction (of the war)
the entire country is being rebuilt." There are so many building and
construction industry representatives, engineers and quantity surveyors
flying in and out of Angola that flights have to be booked two weeks in
advance.
"SA construction companies compete very well across our
borders," says Maas. "Because of the weak rand, we are very competitive
against other companies from developed countries."
They have the skills, expertise and knowledge of
African conditions. "Most of the large construction contracts are being
done by SA companies," says Maas, who is the co-owner of Gauteng Piling.
SA companies are also working in other African countries such as the
Democratic Republic of Congo, Nigeria and Tanzania.
Gauteng Piling has been laying the foundations for the
R500m Nova Vida housing scheme in Luanda for the past two years,
subcontracting to Group Five International, which is developing the
project.
The Financial Mail reports that the Nova Vida contract
with Angola's public works department requires Group Five to deliver 2500
homes. The units will be used by army personnel and government employees,
and others will be sold to the public. One of the most recent developments
is a Shoprite Checkers store, which is being built by Grinaker-LTA.
Much civil engineering work, including earthworks,
water reticulation and the provision of basic services such as roads and
sewerage is also being carried out done by SA-based companies. Maas says
that the equipment and materials needed in construction projects have to
be shipped to Angola because of bad roads.
Jul 02 2003 07:54:24:000AM Nick Wilson
Business Day 1st Edition
AFROX EXPANDS GAS OPERATION INTO ANGOLA
INDUSTRIAL gas, welding equipment and health-care
group Afrox is poised to establish an office in Angola, as it continues
its expansion into Africa, CE Rick Hogben announced this week.
"We are looking at entering the Angolan market to get
our feet on the ground there," he said. "Angola is our next target."
Hogben said Angola, would be the latest in a series
of African countries into which Afrox has moved in recent years. "We
went into Mozambique to take advantage of the Mozal aluminium smelter,
and now we have 20% of the liquid petroleum gas market there," said
Hogben.
Afrox has formed a joint venture gas operation with
the Mozambique government. "We have a fully fledged sales operation, and
we are expecting profit this year of R6m to R8m."
Elsewhere in Africa, Afrox has an operation in Malawi
while its parent company BOC operated in Nigeria, Kenya and Zimbabwe.
Five years ago, Afrox bought back its operation in Zambia. "We have a
very big operation in Botswana, and Namibia is growing at a rate of 50%
a year," Hogben said. "It has been an evolving strategy now about 30% of
our industrial gas earnings comes out of Africa."
Afrox is building a carbon dioxide plant in Nigeria
to supply a Guiness factory. At the moment, operations in Nigeria, Kenya
and Zimbabwe are trading under the BOC brand "but we are looking at
taking them over", said Hogben. Within SA, the company is exploring ways
of expanding the market among low-income consumers for liquid petroleum
gas arguing that this is a far safer alternative to paraffin.
The challenge will be to set up a distribution system
that is both efficient and customer-friendly. Meanwhile, Afrox is
following its precedent of having set up offices at Highveld Steel &
Vanadium and at Sasol with an office at the Coega industrial development
zone near Port Elizabeth.
There would be likely to be a major boost to Afrox'
business if French aluminium producer Pechiney proceeds with its plans
to build a R2bn aluminium smelter at Coega. The Acerinox investment
would be likely to trigger a number of smaller industrial investments,
including a stainless steel processing plant. Hogben said that expansion
in platinum extraction in SA also presented a good growth opportunity
for Afrox, with typical sales of R1,5m to R2m in the opening phase of a
new platinum mine, followed by annual sales of about R1m.
Jul 02 2003 07:45:36:000AM John Fraser Business
Day 1st Edition
503 READY TO SHOW AT INTERNATIONAL FAIR
Luanda, 07/02 - At least 503 exhibitors among foreign and national firms
have already confirmed their participation in the 20th Edition of Luanda`s
International Fair (Filda/2003), taking place July 14-20.
According to the chairman of Angola`s Industrial Association (AIA) the
event co-organizer, Rodrigo Júnior, among the confirmed exhibitors, 240
are local and the remaining are foreign citizens.
The foreign expositors are from countries such as Portugal, Spain, Italy,
Germany, Botswana, Brazil, South Africa, Cuba, Namibia, the Netherlands,
Israel, Ghana, Russia, Poland, Austria, United State of America, Norway,
China, Zimbabwe, Sweden and Cape Verde.
Portugal is the most represented country with 111 exhibitors, followed by
South Africa Brazil, Spain, with 27, 20 and 17, respectively, whereas
Germany, Botswana and Zimbabwe are representing only with 11 expositors
each.
Rodrigo Júnior added that arrangements to house the 500 expositors are in
good pace, when are left only 13 days for the beginning of the current
edition, to be held under the slogan "Door To Africa - Window to the World".
COUNTRY PRESENTS IN THE USA NEW DEVELOPMENT GUIDELINES
Washington, 26/6 - The new guidelines of development
perspectives on petroleum, Aviation, Travel and Tourism for Angola, were
presented by the Angolan delegation attending, since Wednesday, in
Washington, the USA/Africa annual Business Summit.
During the meeting, organized by the Corporate Council on Africa (CCA),
the Angolan delegation headed by Industry Minister, Joaquim David, briefed
the participants on business opportunity tendencies within the SADC market.
Angola will be on the limelight next Friday, when it presents the theme "Post-war
Perspectives in Angola", whose the seminar will examine the country`s
political situation during the first year of peace.
The event will count with the participation of the US Under Secretary for
African Affairs, Walter Kansteiner, and discussing topics include "investment
and business opportunities" and "the major challenges for foreign
investors".
According to the Summit`s agenda, the USA Head of State, George W. Bush
and the Mozambican President, Joaquim Chissano, will on Thursday present
the theme "Future cooperation between the United States and Africa".
Integrating the Angolan delegation are the Ministers of Energy and Water,
Jose Botelho de Vasconcelos, of Transports, Luís Brandão, the
Vice-ministers of the Hotels and Tourism, Paulino Baptista, and of
Commerce, Manuel da Cruz Neto, plus the Angolan Ambassador to the USA,
Josefina Pitra Diakité.
Also included in the mission are the President`s Diplomatic Adviser Manuel
Bravo, Sonangol`s Administrator, Syanga Abílio, Civil Aviation Manager,
Hélder Preza and representatives of "Valentim Amões Group".
SWITZERLAND: ANGOLA TO PRESENT POTENTIALITIES
IN THE TRANSMONTANA FORUM
Transmontana, 06/26 - The Angolan
delegation that will participate on Thursday in the Transmontana business
forum, will inform participants of the potentialities of the country,
specially in Agriculture.
According to the Agriculture minister, Gilberto Buta Lutukuta, the event
will also serve to inform participants of future plans being outlined,
with emphasis to agricultural food matters.
"It is time for us to plead with the International Community for
assistance in this field", said the minister to the Press who is part of
the Angolan delegation to the Transmontana Forum.
Gilberto Buta Lutukuta manifested his confidence that Angola will have a
good participation in the event, because, as he said "Switzerland is a
very advanced country in the area of agricultural food", adding that other
countries participating in the event might also want to invest in Angola
since the country now offers the right conditions.
GERMANS HAPPY WITH PVT INVESTMENT ACT June 20,
2003
The head of visiting German businesspeople's mission to the country, Mr
Wermer Hachmeier, said Thursday, in Luanda, that Angola's Private
Investment Bill pleases the interest of German economy, specially with
regard to equal rights between national and foreign investors.
That official was speaking at the
end of a meeting promoted by Angola's Industry and Trade Chamber (CCIA),
which served to inform the German businesspeople about the country's legal
framework aiming at facilitating investments between the two countries.
According to Mr Wermer Hachmeier,
the first steps given by the Angolan Government in the legislative field,
in the light of current bill, constitute a positive move which will
stimulate investments for the progress of Angola.
This business-related delegation
noticed also that the Angolan Government has been carrying out deep
processes of reforms, through a programme of extensive measures towards
the country's reconstruction, aiming the incentive of economic cooperation
with German, referred the head of mission.
Asked about the priority areas for
possible investments, the offical said that it was too early to talk about
it, as they are in the middle of their visiting programme which is meant
to get acquainted with the Angolan market.
Mr Wermer Hachmeier said also that
the integrants of his delegation are optimistic and they consider that the
peace climate reigning in Angola opens good perspectives for business.
On his turn, Custodio Armando, with
the Angolan Agency of Private Investments, presented to Germans the
national juridical framework in terms of investments, stressing out the
possibility of investors to transfer their profits and dividends at the
end of every economic year.
That official explained also to the
visiting delegation that after the application of capitals, the investors
will be exempted from industrial taxes and customs duties for 15 years.
Custodio Armando pointed out the
Angolan National Bank (the country's reserve bank), airports, ports and
public telecommunication network as being areas reserved to the Angolan
State.
Apart from businesspeople who exert
their activity within German border, the delegation includes also
businessmen (Germans) based in South Africa, as well as from a company
based in Brazil.
RECONSTRUCTION EFFORTS ARE UNDERWAY IN ALL SECTORES OF ANGOLAN SOCIETY
JOHANNESBURG, - The Angolan government and the World Bank (WB) have signed
a US $16.6 million credit agreement for an Economic Management Technical
Assistance (EMTA) project which includes programmes to assist the
government in managing public expenditure and improve the management of
oil and tax revenues.
The project, running until 2007, will focus on the Ministries of Finance
and Planning, and the Banco Nacional de Angola. It forms part of the World
Bank's Transitional Support Strategy (TSS) for post-war Angola.
Spokeswoman Lisa Maier told IRIN on Thursday that the credit will assist
the Central Bank in improving the efficiency of a modern payments system
and strengthen government's ability to design, monitor and audit an
adequate public investment programme. It will also be used for poverty
analysis and the establishment of a transparent and efficient public
finance framework.
Implementation will start on 15 June.
Angola's TSS includes an emergency demobilization and reintegration
project to support government efforts in the transition of about 120,000
ex-combatants to civilian life, the EMTA, support of the Social Action
Fund, and an HIV/AIDS project for supporting the work of the
newly-appointed National AIDS Committee.
A NEW DIAMOND MINE IS JUST OF THE PROJECTS TO RELAUNCH THE SECTOR
A mining project in Luarica,
officially inaugurated on April 27th in Lunda-Norte by Geology and Mines
Minister Manuel Africano, will produce about 20,000 carats of diamonds a
month valued at US$3m. The mining project has so far employed 300
national citizens living in the region.
During his speech on National Mining Day (April
27th), Africano announced that a number of projects, including Endiama
Production and Exploration, would be launched.
The Council of Ministers has also approved funding
for the establishment of a gem cutting and polishing factory in the
country with a view to increasing the value of the precious stone and
generating more jobs.
Africano added that Angola is implementing a new
certificate, which would entitle it to export diamonds to the
international market within the UN's brute diamond certification system,
thus contributing to the fight against blood diamonds. Strengthening
domestic measures against illegal diamond prospecting and trafficking
mineral resources would help to relaunch the diamond sector economically
and subsequently increase the state's revenue.
The measures will also improve residents' living
conditions. Houses and hospitals will be built and water and electricity
supplies will be provided to rural communities in the region, he
emphasised. The minister revealed the ministry hopes to implement other
cooperation agreements with foreign companies on a regional level,
similar to that of South Africa's Trans Hex. The South African company
holds 35% of the company, whilst Angola's Endiama is a main shareholder
with 40% of shares. Other national comanies each hold 12.5% of the
remaining shares. Since the company was launched a year ago, at least
1,600 carats have been produced. Angop revealed that the largest diamond
(28 carats) was discovered in April.
Finance Minister Jose Pedro de Morais and the deputy
ministers of Media (Manuel Augusto), Geology and Mines (Mankenda
Ambroise) and Youth and Sports (Job Capapinha) attended the ceremony.
The South African ambassador to Angola, Massanga
Nsinanga, local politicians and traditional authorities also
participated in the event, during which a bridge over River Chihumbue
was inaugurated. The bridge links the mining municipality of Cambulo to
Lucapa. (Angop, Luanda, 29/4)
Publication: Africa Research Bulletin (ARBE)
ANGOLA: RUSSIAN ENVOY CALLS FOR STRENGTHENED BILATERAL TIES
Luanda, 11 June: Russian Ambassador to Angola Andrei
Kimarsky has confirmed his government is willing to extend bilateral
economic and trade cooperation, with a view to strengthening relations
between the two countries.
The diplomat was speaking to Angop today on the
sidelines of a visit to the Angolan navy's base to mark the Russian
Federation's 13th anniversary.
Describing Russia's "excellent" political relations
with Angola, Andre Kimarsky said the two countries have to increase their
economic and commercial relations to benefit them both.
The Russian Federation is investing in the construction
of a hydroelectric dam and the Catoca diamond company in Lunda Norte.
APPOINTED COMMISSION FOR ANGOLA-TELECOM ALIENATION
Luanda,
06/12 - The Angolan government has recently appointed a commission that
will have the task to, namely, negotiate the partial alienation of
Angola-Telecom, take care of references, select a finance consultant and
prepare the process of privatization, says an official source.
According to a recent publication on the official gazette, this decision
comes to fulfil a programme of strategies and policies of privatization
approved in October 2001 by the Cabinet Council.
According to that official source the commission is coordenated by Manuel
Nunes Junior who is from the Finance Minister, and includes two officials
from the PostOffice and Telecommunications Department, one official from
the Cabinet for Entrepreneurial Reassessment, one from Angola-Telecom and
Manuel António who is the executive secretary of the project.
The negotiating commission will also be joined by a member of the Foreign
Investiment Institute. The referred commission must hand in, by June 25, a
Work Programme to the Finance minister.
ANGOLA GETS
16.6 MILLION DOLLARS FROM THE WORLD BANK
Washington, June 10 - The
Angolan Government received a financial credit valued 16.6 million
dollars from the World Bank, that will benefit the Angolan National Bank
and National Institute of Statistics, in the ambit of the programme of
technical assistance and economic management.
The fact was announced Monday, in Washington, during a meeting in which
was signed an agreement rubricated by the Angolan ambassador to the
United States of America, Josefina Pitra Diakite, and the World Bank`s
Vice President, Callisto Maldavo.
The amount will be usesful for the reinforcement of the Angolan
government`s capacity building in matters of macro economic reforms in
the fields of planning, statistics, improvement in public finances and
the national financing system.
The current agreement is a result of negotiations between the Angolan
Government and the World Bank, started in February, which aims the
implementation of public investment reform systems and poverty reduction.