Wednesday 26 July 2017
(Xinhuanet 05/04/17)
The World Economic Forum (WEF) Africa Competitiveness Report 2017 released in Durban Thursday called for urgent policy reforms if the continent intends to create more jobs for its growing young population. According to the report issued at the 27th WEF on Africa, fewer than one-quarter of the 450 million new jobs required in the next 20 years will be created if current policies remain unchanged. The report called for structural reforms in the economies to create more jobs for the youth entering the market. African countries have to prioritize improving infrastructure, skills and adoption of new technology and quality of institutions. To improve competitiveness in the short term Africa needs to increase housing construction through investment, better urban planning and...
(Voice of America 05/03/17)
African military expenditures have finally slowed down after more than a decade of steady increases, according to a new report on global defense spending. The main reason, the report found, is a drop in oil prices. “The sharp decreases in oil prices has affected quite a number of African countries, namely South Sudan and Angola. This has kind of driven almost the entire regional trend,” said Nan Tian, a researcher at the Stockholm International Peace Research Institute’s (SIPRI) Arms and Military Expenditure Program, the organization that authored the report. The SIPRI report found military spending in Africa in 2016 was down by 1.3 percent from the previous year and totaled about $37.9 billion. Despite the drop, Africa’s military spending remains...
(Bloomberg 05/02/17)
Saudi Aramco is seeking to boost its fuel-trading volume by more than a third as the world’s biggest crude exporter expands its capacity to refine oil to grab a bigger share of growing markets in Asia and Africa. Aramco, as Saudi Arabian Oil Co. is known, is building refineries in the kingdom and in Asia to help it increase sales and purchases of gasoline, diesel and other products to more than 2 million barrels a day, said Ibrahim Al-Buainain, chief executive officer of Saudi Aramco’s trading unit, Saudi Aramco Products Trading Co. Owning refineries gives the unit, known as Aramco Trading Co., options for buying and selling fuel that some of its competitors don’t have. “The key is that you...
(Reuters (Eng) 04/29/17)
The fall armyworm - which decimates fields as it marches ever forward - has spread to Angola as the caterpillar eats its way through southern Africa, a U.N. agency said. With Angola the latest country affected, only Lesotho and island nations in the region have escaped the pest, which devours crops in its path, U.N. officials said. Its spread has undermined hopes for a better harvest this year, they added, with swathes of southern, eastern and western Africa infested. "Now even Angola has confirmed (an outbreak)," said Joyce Mulila Mitti, a crop production and protection officer at the Food and Agriculture Organization (FAO) of the United Nations. In a statement, the FAO said it carried out a joint mission with...
(Mining Weekly 04/28/17)
Angolan oil minister José Maria Botelho de Vasconcelos said on Thursday his country was more than fully complying with Opec production cuts, and that he believed a deal to curb output would be extended beyond June. "Yes I think so," de Vasconcelos said at an industry event in Paris when asked whether the deal would be extended at the group's meeting in Vienna on May 25. He added that Angola was implementing more than 100% of the cuts it committed to under the deal reached last year between the Organisation of the Petroleum Exporting Countries and other producers led by Russia. Under the deal, the producers agreed to cut output by 1.8-million barrels per day for six months from January...
(Eye Witness News 04/28/17)
Officials said only Lesotho and island nations in the region have escaped the pest, which devours crops in its path. The fall armyworm - which decimates fields as it marches ever forward - has spread to Angola as the caterpillar eats its way through southern Africa, UN officials said on Thursday. With Angola the latest country affected, only Lesotho and island nations in the region have escaped the pest, which devours crops in its path, the officials said. Its spread has undermined hopes for a better harvest this year, they added, with swathes of southern, eastern and western Africa infested. "Now even Angola has confirmed (an outbreak)," said Joyce Mulila Mitti, a crop production and protection officer at the Food...
(Macauhub 04/28/17)
Non-resident foreign workers in Angola can once again be paid in foreign currency, not just in kwanzas, according to presidential decree 78/17, of 24 April, repealing another decree from 6 March. The new decree stipulates that “the value and currency of the remuneration of foreign non-resident workers are freely agreed between the employer and the worker,” in compliance with the general principles set out in the General Labour Law and new legislation. The decree of 6 March indicated that Angolan companies could only hire non-resident foreign workers for a maximum period of 36 months, with payments made exclusively in kwanzas, with the central bank deciding on the amount of transfers abroad. Non-resident foreign worker are citizens of another nationality, “not...
(Voice of America 04/28/17)
A low-cost and widely available drug could save the lives of 1 in 3 mothers who would otherwise bleed to death after childbirth, according to a new study. Severe bleeding, known as postpartum hemorrhage, or PPH, is the leading cause of maternal death worldwide, killing more than 100,000 women every year. Even for mothers who survive, it is a painful and traumatic experience. The world's poorest countries, especially in Africa and India, are the worst hit. Drug from 1960s But there is new hope. In the 1960s, Japanese researchers developed a drug called tranexamic acid, which works by stopping blood clots from breaking down. But they could not persuade doctors to try the drug for treating PPH. The London School...
(Macauhub 04/27/17)
The loss of control of Banco de Fomento Angola led BPI from a profit of 45.8 million euros in the first quarter of 2016 to losses of 122.3 million euros in the same period of 2017, according to the quarterly results presented on Wednesday. The impact of the sale of a 2.0% stake taking its stake down to 49.1% and consequent loss of control of the bank was a negative 212.3 million euros, and without this impact BPI would have seen a positive result of 90 million euros. The sale of the stake, required by the European Central Bank, “meant that Banco de Fomento Angola ceased to be consolidated in the accounts of Banco BPI, becoming recognised only by the...
(Macauhub 04/27/17)
The VistaWater company won a tender to explore and manage the water supply system in Sumbe, the capital of Kwanza Sul province, in Angola, worth approximately 3.5 million euros, the company said in a statement. VistaWater is 45% owned by Portuguese group Indaqua – Indústria e Gestão de Águas, in turn 50.06% owned by Israeli group Miya, which in February 2016 paid 60 million euros for the stake held by Portuguese construction company Mota-Engil. The contract entered into with the National Directorate of Energy and Water has a completion period of 12 months and aims to “operate and manage all water supply infrastructure in the city,” including a water treatment plant, six tanks, a distribution network with 6,000 links and...
(Macauhub 04/27/17)
Twenty-three new diamond, gold, phosphate, iron ore, copper and natural stone exploration projects are due to begin in Angola in the short and medium term, the Minister of Geology and Mining, Francisco Queiroz said on Wednesday in Luanda. The minister, who was speaking at the opening session of the 6th Consultative Council of the Ministry of Geology and Mines, did not quantify the amounts related to each project but said five were for diamond exploration, four for gold, two for iron ore, two for phosphates, one for copper and nine for ornamental rocks. Queiroz also said that these projects will contribute to overcoming the economic and financial crisis by diversifying the sources of tax revenues and increasing foreign exchange resources...
(Business Day Ghana 04/27/17)
There are currently 960 million mobile subscriptions across Africa – an 80 percent penetration rate among the continent’s population. Internet penetration is at 18 percent with 216 million internet users, according to the latest Jumia mobile trend report for Africa. The 2017 edition of the African Mobile Trends Paper is the third white paper presentation from Jumia delving into mobile trends across Africa and specifically Nigeria. The study takes a look at the how the market has democratised mobile internet use, the consumer behaviours driving increased smartphone adoption and the role of mobile brands, mobile operators and m-commerce in creating a synergy of an enhanced customer experience. This year’s Mobile Africa Study was carried out in 15 African countries which...
(Xinhuanet 04/26/17)
The Belt and Road (B&R) Initiative is a golden opportunity to bring about regional integration and sustainable economic growth for Africa, said Berhane Gebre-Christos, special envoy of the Ethiopian Prime Minister, on Tuesday. The special envoy made the remarks at the opening of a seminar organized on the B&R Initiative in Ethiopia's capital Addis Ababa. Welcoming the initiative, the special envoy said he is looking forward to the expected effects of the initiative. "The B&R is a project that will affect millions of people, and it will be one of the most important issues of the 21st century," he said, adding that the comprehensive approach of China means that the aspirations and development strategies of all countries involved will be...
(AFP (eng) 04/25/17)
Angola's cabinet said on Monday that elections will be held on August 23 to choose a successor to President Eduardo dos Santos after 38 years of iron-fisted rule. Dos Santos, 74, has been in power since 1979 and has announced that he will not contest the election. His ruling party's presidential candidate will be the current defence minister. "At the suggestion of the president of the republic... the nation's cabinet on Monday approved August 23 as the date for Angola's general election," cabinet spokesman Joao Maria de Sousa said in a press conference broadcast on national radio. Dos Santos must now formally trigger the legal process to stage the polls which will see up to 9.6 million Angolans cast ballots...
(AFP (eng) 04/24/17)
A new malaria vaccine will be tested on a large scale in Kenya, Ghana and Malawi, the World Health Organization said Monday, with 360,000 children to be vaccinated between 2018 and 2020. The injectable vaccine RTS,S could provide limited protection against a disease that killed 429,000 people worldwide in 2015, with 92 percent of victims in Africa and two-thirds of them children under five. "The prospect of a malaria vaccine is great news. Information gathered in the pilot will help us make decisions on the wider use of this vaccine," said Dr Matshidiso Moeti, the WHO's regional director for Africa. The vaccine should be used alongside other preventative measures such as bed nets, insecticides, repellants and anti-malarial drugs, the WHO...
(Reuters (Eng) 04/22/17)
Thousands of refugees fleeing fighting between the army and armed groups in the central Democratic Republic of Congo have sought refuge in overcrowded villages across the border in Angola, the United Nations said on Friday. More than 11,000 refugees have fled Kasai-Central province amid clashes between local militias and Congolese forces that started last August, with some 9,000 arriving since the start of this month, the U.N. refugee agency (UNHCR) said. Refugees, about half of whom are children, are arriving in Angola in desperate conditions, many of them malnourished
(AFP (eng) 04/20/17)
Seven Angolan opposition activists have been sentenced to 45 days in jail over a protest calling for transparency in next year's election when veteran President Jose Eduardo dos Santos will stand down. The election, due to be held in August, will mark a new chapter for Angola as Dos Santos hands over power after ruling the oil-rich country since 1979. "The court condemns the accused to 45 days of imprisonment and a fine of 65,000 kwanzas ($390) for the offences of rebellion and association with criminals," said the judge in Cacuaco, a district of the Angolan capital Luanda. Among those convicted late Wednesday was rapper Adao Bunga, nicknamed "McLife", a prominent critic of Dos Santos. About 50 protesters attended the...
(Bloomberg 04/20/17)
WorldRemit Ltd., a British money-transfer operator, sees revenue from transactions involving Africans doubling by 2020 as more people on the continent access mobile-payment platforms and expatriates send cash home. The seven-year-old company, in which Facebook Inc.-backer Accel Partners LP invested $40 million in 2014, will this year open a regional office in South Africa, its largest market on the continent in terms of money-transfer value, founder and Chief Executive Officer Ismail Ahmed said in an interview. Another site will start operating in Kenya, where the London-based business sees Africa’s highest number of individual transactions. “In the next two years we should be doubling our volume every year,” Ahmed said in Kenya’s capital, Nairobi. The continent accounted for half the company’s...
(AFP (eng) 04/19/17)
Angola said Wednesday that it was reinforcing security patrols along its northern border through which thousands of refugees have fled violence in the Kasai region of the neighbouring Democratic Republic of Congo. "The Angolan police has intensified patrols on the border with the Democratic Republic of the Congo to prevent the infiltration of armed groups into our national territory," police chief Ambrosio de Lemos said on public RNA radio. The DRC's four central provinces of Kasai, Kasai-Central, Kasai-Oriental and Lomami have been gripped by a violent uprising since last year. The fighting erupted after government forces last August killed tribal chief Jean Pierre Mpandi, also known as Kamwina Nsapu
(Bloomberg 04/19/17)
The World Bank cut its growth projection for sub-Saharan Africa this year because of weak expansion in the region’s three biggest economies. The area’s gross domestic product will expand 2.6 percent in 2017, the bank said in an emailed copy of its Africa Pulse report Wednesday. That compares with a January projection of 2.9 percent and matches the International Monetary Fund’s prediction released this week. “The region’s three largest economies -- Angola, Nigeria, and South Africa -- are projected to post only a modest rebound in growth following a sharp slowdown in 2016,” it said. “Investment growth will recover only gradually amid tight foreign-exchange liquidity conditions in major oil exporters and low investor confidence in South Africa.” The economy of...

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