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Angola Unveils New Oil Regulator in Restructuring of Sonangol

LUANDA (Capital Markets in Africa) – Angola will set up a new regulator for the country’s oil industry as the government restructures state-owned Sonangol and seeks to revive falling oil and gas output. Sonangol’s role as national concessionaire will be transferred to the National Agency of Petroleum and Gas in the first half of next year in a reorganization scheduled for completion in 2020, Oil Minister Diamantino Azevedo said in a statement handed to reporters Wednesday. Sonangol,…

Angolan Banking sector resilient to macroeconomic shocks

Posted on by The Editorial Team

LUANDA (Capital Markets in Africa) – The International Monetary Fund considered that the heavy reliance of Angolan banks on the oil sector constitutes a key risk, mainly for state-owned banks, while private banks are better positioned to weather the impact of an oil shock given their initial strong position. It indicated that the main channel of transmission of an oil shock is through fiscal activity, as lower oil prices would contain public spending and weaken non-hydrocarbon sector activity and,…

Nigeria and Angola’s dependence on oil and gas creates challenges

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LAGOS (Capital Markets in Africa) – Although Nigeria (B2 stable) and Angola’s (B3 stable) economies, external positions and public finances are expected to stabilise, their continued dependence on oil and gas means they will both face a range of challenges in the coming years, Moody’s Investors Service said in a report today. For Angola, the key issue will be managing its liquidity pressures and higher debt burden alongside further currency devaluation. For Nigeria, it will…

INTO AFRICA June 2018 Edition – Renewed Optimism: African Real Estate

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LAGOS (Capital Markets in Africa) –Welcome to the June 2018 edition of INTO AFRICA, a publication with fresh insight into Africa’s emerging capital markets. This month’s edition, titled: Renewed Optimism: African Real Estate, examines the opportunities as well the challenges in the African real estate markets. Africa’s continuing economic and social development is encouraging investors to expand their portfolios in the continent and the yearning for long-term investment has drawn increased numbers of international investors…

Angola’s Oil and Gas Sector: Regulation and Law Insight

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LAGOS (Capital Markets in Africa) – Angola holds almost 9.5 billion barrels of proved crude oil reserves and 308.1 billion cubic meters of natural gas reserves, according to the latest estimates from the 2017 Annual Statistical Bulletin of the Organisation of the Petroleum Exporting Countries. Angola is the second-largest oil producer in Sub-Saharan Africa, behind Nigeria. In the oil and natural gas industry, the focus is on inter alia ensuring the “Angolanisation” of upstream activities;…

INTO AFRICA May 2018 Edition: Bouncing Back – African Oil and Gas

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LAGOS (Capital Markets in Africa) – Welcome to the May 2018 edition of INTO AFRICA, a publication with fresh insight into Africa’s emerging capital markets. This month’s edition, titled: Bouncing Back: African Oil and Gas explores oil and gas laws and regulations across African countries as well financing options for oil and gas projects. With the oil price pushing through to the US$70 mark, and further confidence that the price will remain more stable in…

Angola Gets $500 Million From HSBC Account Frozen Due to Fraud

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LUANDA (Capital Markets in Africa) – Angola has recouped $500 million that was frozen in an HSBC Holdings Plc account in London linked to an alleged fraud, the Finance Ministry said. The funds were part of $1.5 billion that the Angolan government was to pay Mais Financial Services, a company managed by a person close to Jose Filomeno dos Santos, the son of Angola’s former president, for the start-up of a $35 billion strategic investment…

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