BCP negotiates sale of stake with Chinese group Fosun

The process of Chinese group Fosun taking a stake in Portuguese bank Banco Comercial Portuguese (BCP) is expected to be completed by the end of September, according to a statement

Inflation rate exceeds 35 percent in July

The inflation rate in Angola stood at 35.30 percent in July, while prices increased 4.04 percent year-on-year, according to a statement released recently in Luanda by the National Bank of

Angola | Gov’t wants to set the price of airline tickets

Airlines operating in Angola will now set their ticket prices based on the country’s economic reality, according to the Regulation on Air Transport, whose draft presidential decree has been approved

CCCC may buy construction company in Brazil

Camargo Corrêa, one of the largest construction companies in Brazil, has been put up for sale and may be acquired by the China Communications Construction Company (CCCC), the Brazilian press

Angola has new finance minister

The chairman of the Angolan Capital Market Commission, Augusto Archer de Sousa Mangueira, is the new Minister of Finance of Angola, replacing Armando Manuel, who was dismissed as part of

Embraer sells aircraft in China

Chinese airline Colorful Yunnan General Aviation Co. has ordered two Phenom 300 light executive jets from Brazilian aeronautical manufacturer Empresa Brasileira de Aeronautica (Embraer), and signed the contract to purchase

Fosun Group starts talks to buy 16.7 percent of BCP bank

The board of Portuguese bank Banco Comercial Portuguese (BCP) will start talks with Chinese group Fosun that in July proposed the immediate purchase of 16.7 percent of the bank through

Angola introduces new customs tariff in 2017

The Angolan General Tax Administration (AGT) is developing a new customs tariff to come into force in 2017 in collaboration with public and private entities involved in foreign trade, the

Mozambique complies with IMF recommendations

The Minister of Economy and Finance of Mozambique last week restated the government’s commitment to comply with the recommendations and the timetable set out by the International Monetary Fund (IMF)

Angola | Largest Special Economic Zone opens up to private investors

The largest Special Economic Zone in Angola, the Luanda-Bengo SEZ (ZEELB), which was built with the support of China, will open most of its industrial units to private investment in

US finances management plans for two natural parks in Angola

The United States Agency for International Development (USAID) this week in Menongue submitted the management plans for two recently created natural parks in Angola, said the United Stattes embassy in

M&A | The gold medal for buying up Brazilian assets goes to China inc.

China may be lagging behind in the medal count during this year’s Olympic games in Rio de Janeiro, but it’s winning the competition for Brazilian assets. No country has done more

Human resources focus in next cycle of China-Africa economic cooperation

The cycle of expansion based on raw materials, which has sustained growth of economic relations between China and African countries like Angola, is playing out and the next opportunity is

Angola | Year-on-year inflation over 35 percent in Luanda

Year-on-year inflation in Luanda reached 35.30 percent in July, up 24.89 percent over the figure recorded a year ago, Angola’s National Statistics Institute announced. In July prices posted a monthly increase

Mozambique | President aims to boost population’s access to financial services

More than 90 percent of Mozambique’s population does not have a bank account and there is a consequential need to bring financial services closer to citizens, said President Filipe Nyusi

Portugal’s public debt in June the highest ever

Portugal’s public debt stood at 240.1 billion euros or 131.6 percent of gross domestic product at the end of June, the highest indebtedness ever, the Technical Budget Support Unit (UTAO)