Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

Since mid-March, Luibor rates have been in significant decline – last Friday, the overnight interbank rate was 3.39 percentage points (pp) below values at the end of 2021.
In the foreign exchange market, the Kwanza stabilized after several weeks of strong appreciation, gaining value against the Euro (+2.21%) due to the EUR/USD decline movement.
The Government revised economic growth projections in 2022 to 2.7% from the 2.4% initially forecast in the 2022 Budget.
The National Agency for Oil, Gas and Biofuels (ANPG) has awarded the exploration of two oil blocks to multinational companies Total Energies and Eni.
Three financing agreements totaling EUR 172.4 million were approved by the Angolan President last week.
IGAPE began last Tuesday the privatization process of 20% of the share capital of Mota Engil Angola.

Best regards,
BFA

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