Markets and Businesses

Thurs, 9th Dec, 2021

Hello and welcome to Markets and Businesses, a magazine
focussed on Angola economic developments.
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The Exchange rate in Angola
One euro is being purchased for kz665 and sold for kz700 and
one US dollar is purchased for kz 584 and sold for kz608.
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Now Brent Crude oil, which is Angola´s reference, one barrel is
being sold for $75.
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Angola takes part in World Petroleum Convention
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Angola has been participating since Monday in Houston, in the
United States of America, in the 23rd edition of the World
Petroleum Convention, considered the biggest world summit on
the “Oil & Gas” sector.
Angola is represented at the event with a delegation headed by
the secretary of State for Oil and Gas, José Barroso, which also
includes managers and specialists from the National Agency for
Petroleum, Gas and Biofuels, led by the acting chairman of the
Board of Directors, Belarmino Chitangueleca, in addition to the
Sonangol team, headed by the CEO, Sebastião Gaspar Martins.
For the secretary of State for Oil and Gas, the delegation he
heads brings a concrete message about what Angola has for the
oil and gas sector. "Angola is coming to discuss with the other
delegations the current moment in the oil industry, to show the
strength of the oil industry in Angola and the opportunities that
the country has for all those who want to invest in this sector",
he stressed.
In addition to participating in ministerial panels and debates,
Angola stand occupies 300 square meters, where the potential of
the sector is exhibited.
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The Angolan state got four trillion 950 billion 790 million 486
thousand kwanzas in oil revenues, until October this year,
already surpassing the amounts previously foreseen in the State
Budget/2021.
This financial instrument, at the average price of USD 39 per
barrel, with the Statebudget/2021, provides for oil revenues in
the order of 4.06 billion kwanzas.
Consolidated data from the Special Taxation Department of the
General Tax Administration show accumulated figures in the
order of four trillion, 950 billion 790 million and 486 thousand
Kwanzas.
The aforementioned Department indicates that the amount
allocated in this period is the result of exports, in the last 10
months, of 347, 2 million barrels at an average price of USD
64.04. Looking at the amounts, so far, more than 800 billion
kwanzas is considered surplus until October this year.
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More than 30 thousand direct jobs and 45 thousand indirect jobs
were created in two years, within the scope of the Action Plan
for the Promotion of Employability, announced recently in
Luanda, the secretary of State for Work and Social Security,
Pedro Filipe.
According to, the secretary of state who was speaking to
reporters, at the usual "meeting on the country's economy",
these numbers are below the Government's projections due to
the Covid-19 pandemic that the world is facing.
Pedro Filipe added that the unemployment rate is 34.1 percent
(more than five million unemployed). "That is why the
government keeps the issue of employability on its agenda," he
said in statements to Angola´s National Radio.
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The National Authority for Economic Inspection and Food Safety
detected, in Luanda, 118 infringements of various types in 54
economic operators, 28 in the Tourism sector and 26 in
Commerce.
According to a statement from that institution, of the detected
infringements, the existence of poorly packaged products,
without labeling, and a high quantity of expired products stand
out.
It was also verified the lack of Habitability Certificate and the
inexistence of Price Calculation Structure, as well as the suspicion
of counterfeiting and falsification of products, indicates the
fortnightly balance sheet that ANGOP had access to a few hours
ago.
In this regard, he highlighted the various Inspection and
supervision actions, with special focus on consumer goods of
certain foods characteristic of the festive season, with a view to
guaranteeing Food Safety, such as hygiene, labeling and storage
conditions for foodstuffs.
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The first phase of the Caraculo Photovoltaic Project, located in
the province of Namibe, begins to be implemented in late 2022,
covering engineering, procurement and construction works. The
Photovoltaic Plant will have a total capacity of 50 MWp and will
be managed by SOLENOVA, a joint venture of Eni and Sonangol
for the development of renewable energy projects.
"SOLENOVA reached the Final Investment Decision and signed
the Engineering, Procurement and Construction contract, as of
the fourth quarter of 2022, for the first phase of the Caraculo
photovoltaic project", indicates a grade from that institution.
This photovoltaic power plant in Caraculo will be an important
source of electricity in the province of Namibe, from a renewable
resource, and will allow the reduction of diesel consumption for
the production of electricity, thus reducing the emission of
greenhouse gases and contributing to Angola's energy transition,
the document reads.
In addition to the positive impact on the environment, he adds,
the project will contribute to the sustainable development of
communities in the surrounding areas, which will benefit from
social interventions, including in terms of access to energy,
water, health and education.
The positive impacts of the project to be registered in the
environmental and social domains will also contribute to
promoting the achievement of the United Nations Sustainable
Development Goals, mainly SDG No. 7 – Accessible and Clean
Energy. The note that ANGOP had access to a few hours ago
sustains that this initiative is in line with Angola's strategy in the
electricity sector, which aims to promote renewable energies.
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The Christmas season tends to make prices go up in Angola.
People will be looking for diferent things during it. This idea has
been justified by Angolan economist, Hernany Luís.
RD ………………………………………………………… Hernany Luís
That was economist, Hernany Luís, discussing prices during
Christmas season.
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Angola and India have positive feelings about trade relations.
Currently, the relations are on a high trajectory. Last year, on
September 7th, the countries had their first joint commission
meeting which was co-chaired by the Indian foreign minister,
Subrahmanyam Jaishankar, and his Angolan counterpart Teté
António. This information has been given to this radio station
recently in Luanda by the Indian ambassador to Angola.
RD ……………………………………………………… Pratibha Parkar 1
The ambassador went on to say that India and Angola really share
bilateral relations. And the balance trade is in favour of Angola.
RD ………………………………………………………….. Pratibha Parkar 2
That was Indian ambassador to Angola, Pratibha Parkar, making
reference to India and Angola trade relations.
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Angola participated in the Planet Budapest 2021 Sustainability
Expo and Summit, which took place in Budapest, Hungary
recently. The Angolan delegation was made up of the secretaries
of State for Telecommunications and Information Technologies
and for Water, Mário da Silva Oliveira e Lucrécio Costa,
respectively.
This was a joint event of the Visegrad Group countries (Hungary,
Poland, Slovakia and the Czech Republic) on sustainable
development, with an emphasis on the use of technology in
solving the problems generated by climate change, the
dichotomy between energy security and political stability,
financing of circular and green economies, water and food
security, artificial intelligence, technical development in the field
of transport and waste management.
On the sidelines of the event, the two officials held bilateral
meetings with Hungarian entities, and beyond, as well as with
companies linked to the sectors they manage, with a view to
exploring strategic partnerships and deepening cooperation ties
between Angola and Hungary in the fields of water resources
and telecommunications and information technologies.
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The Forestry Development Institute, in the province of Huambo,
pocketed 8,998,000 and 962 kwanzas as a result of the first
timber auction, held a few hours ago.
Speaking to the press, the coordinator of the Commission for the
Sale by Public Auction of Wood Seized by the FDI, Luzia Correia
Leite, said that the product was auctioned, with emphasis on
eucalyptus in the form of boards, slats, poles, veneers and a
batch of wood of mussivi species, was apprehended in several
inspection actions.
She informed that they were bought by the companies José
Caquarta, Stock Company, Vima and Mayessa. Luzia Correia Leite
explained that the auction's organizing committee established a
period of 10 days for the purchasing companies to pay for the
species purchased, under penalty of being resold to other
interested parties.
She informed that the process had the institutional partnership
of the General Tax Administration and the Fiscal Police. By the
way, 345 cubic meters of wood was made available, resulting in
the purchase of 155 cubic meters, with 130 cubic meters of
eucalyptus poles and 60 of veneer poles still to be purchased.
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That´s all for Markets and Businesses …