Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

Data from secondary sources used by OPEC point to a production of 1.17 mbd in the last month of 2020, bringing the average annual production in 2020 to 1.26 mbd - a drop of 9.9% compared to the average production in 2019.;
The Sociedade Mineira de Catoca (SMC) is now held at 41% by Endiama (the Angolan diamond-producing SOE), following a purchase of 8.2% held by Odebrecht Angola, a deal valued at around USD 70 million.;
In the foreign exchange market, the exchange rate has remained quite stable for the last 3 months, around USD/AOA 650;
Last Monday, BNA revoked Banco Kwanza Investimento's banking license for insufficient regulatory capital funds;
The State will start issuing debt securities in the domestic market this year as early as today, starting by offering T-Bills at 3, 6 and 12 months, and T-Bonds in Kwanzas at 18 months, 2, 3, 4 and 5 years.

Best regards,
BFA

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