Angola Weekly

Here is this last week’s Angola Weekly.

Highlights:

• At the latest Monetary Policy Committee, held last Tuesday, the BNA decided to keep the various monetary policy instruments unchanged;

• Banco Económico will have until tomorrow, December 7, to present the restructuring plan to the BNA, according to statements by the BNA Governor at the MPC press conference;

• In the foreign exchange market, the Kwanza appreciated 3.5% against the Dollar and 3.3% against the Euro, having closed the week at USD/AOA 565 and EUR/AOA 638.9;

• Net International Reserves ended November at USD 10.1 billion (Bn), with a monthly value above USD 10Bn for the first time since July 2020;

• The oil company TotalEnergies has begun exploration of the CLOV phase 2 project, in Block 17, according to a joint announcement with ANPG;

• Along with the exploration of the Platina field in Block 18, the Caril Pop-up project in Block 32, and some expected smaller investments in Blocks 0 and 15/06, 2022 could be the 1st year of growth in production since 2015, albeit only a slight increase, close to 1%;

• IGAPE announced last week that Grupo Anseba has won the public tender to manage the Kero supermarket chain;

• BCI's privatizing tender will occur this month, according to an IGAPE announcement.