Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

According to Finance Ministry data, crude exports dropped 7.8% in 2019 compared to 2018, averaging 1.36 million barrels per day (mbd);
The Oil & Gas Agency (ANPG) will continue to look for new investors for the seven blocks whose auctions received no proposals last October;

Agreements were signed last week between the Executive and multinational Anglo American for 5 concessions on prospecting for metals, 3 in Cunene (copper, cobalt and nickel) and 2 in Moxico (copper, cobalt and silver);

German Chancellor Angela Merkel visited Angola last Friday, while a financing agreement was signed for the construction of the Caculo Cabaça dam;
The new Law on Anti-Money Laundering and Financing of Terrorism was published on the official gazette;
In the foreign exchange market, the Kwanza remained stable against the Dollar, trading at USD/AOA 496.4, while at the same time appreciating in the parallel market;

Best regards,
BFA

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