Indian consortium to invest USD300 million in Mozambican coal mine

Verma also heads the state-owned Steel Authority of India Ltd (SAIL). He said the consortium has begun formal talks with the likewise Indian Tata Steel, which controls a 35 percent

2014 Maputo International Fair scheduled for 25-31 August

The 50th Maputo International Fair (Facim) will be held from this coming 25 to 31 August, with the participation of 25 countries and territories confirmed to date, the head of the

World Bank announces USD75 million financing for Mozambique

In the first case, the donation is meant to assure more transparency and efficiency in spending to supply, store and distribute medicines, and in school management, indicates the statement released

Brazil open to strengthening agricultural cooperation with Angola

Brazil is open to more extensive cooperation with Angola so that the latter can once again become one of Africa’s top agricultural producers, the Brazilian ambassador in Angola, Ediuliza Fontenele

Mozambique forecasts more exports to the USA

Minister Armando Inroga said the figure represented a major increase in Mozambican exports to the American market, which in the last five years have stood at around US$76 million. He

Angola the sub-Saharan country with highest growth since 2007

Angola has posted the highest economic growth in sub-Saharan Africa since 2007 and stands among countries with the highest per capita gross domestic product, the director of the Department of

Angola | Gov’t lowers projected economic growth in 2014 to 6 pct

During the summit meeting between the United States and about 50 African leaders under way since Monday in Washington, Vicente stated that the growth rates result from “improvements in the

China sells trains to Rio de Janeiro, Brazil

The trains were obtained from the state-owned China CNR Corporation Limited and comprise four trains with four carriages each. Each train can carry 1,200 passengers. The new trains are equipped with

Intervention process completed for failed bank in São Tomé and Príncipe

The Central Bank of São Tomé and Príncipe has declared that the intervention process involving Island Bank, a failed private bank sold to Energy Bank, has been completed, the head

National Bank intervenes in BES Angola

José de Lima Massano specified that the central bank will continue providing necessary support to safeguard depositors’ interests, announcing a package of extraordinary measures for BESA’s recovery. At stake is “degradation

Angola | Resurgent textile industry helps diversify economy

The Economist Intelligence Unit specifically indicates that the refurbished and modernized África Têxtil, Textang II and Satec factories are “a positive step to diversify the Angolan economy,” even though those

ANGOLA | Minister urges US entrepreneurs to invest in transportation network

The Angolan Minister of Transportation urged American investors in Chicago to invest in rail transportation, heavy logistics and the maritime/port sector in Angola, the Angop news agency reports. “We still have

Trade between China and Lusophone countries reaches USD64.6b in first half-year

year, indicate official Chinese figures released yesterday in Macau. The figure for the first half-year includes USD20.463 billion (+2.25 percent) of Chinese exports to the eight Portuguese language countries and imports

Banco Espirito Santo may lose control in Angola

“If BES decides not to accompany the increase, either entirely or partly, it may no longer have a controlling stake and/or it will be diluted to a stake that will

Non-oil GDP in East Timor rises 7.8 percent in 2012

Non-oil Gross Domestic Product (GDP) in East Timor (Timor Leste) rose 7.8 percent in 2012, the spokesman for the Timor government and Minister of State and for the Presidency of

Embraer increases aircraft sales

Brazilian aeronautical company Embraer delivered 29 executive jets in the second quarter of the year, or 7 more airplanes than in the same period of 2013, which allowed the company

Unitel-STP launches telecommunications services in Sao Tome

Unitel-STP, a subsidiary of Angolan mobile phone operator Unitel, Tuesday launched its commercial telecommunications services in Sao Tome and Principe the company’s managing director, Manuel Lemos said. The announcement was made

Mozambique seeks funding for cashew production

Filomena Maiopué, director of INCAJU said that a 10-hectare plot had been selected to plant cashew trees, Vietnam, the project’s partner, had provided the necessary know how, but funding had

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