Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly

Highlights:

• BPC, the largest state-owned Angolan bank, posted AOA 189.6Bn in losses in the first half of this year: 34% less than in the same period in 2019;

• The Angolan Government confirmed it intends to partially privatize Sonangol and Endiama by 2022, while also expecting to postpone TAAG's privatization to the same year, instead of the previously scheduled timing (2021);

• In international markets, Brent prices have risen to the highest level since March having closed the week just above USD 48;

• In the forex market, the Kwanza appreciated 0.5% against the Dollar last week.

Best regards,
BFA

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