Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.


  • The unemployment rate rise again in Q3 2021 to 34.1%, 2.5 percentage points (pp) above that recorded in Q2 2021 and 0.1 pp above the same period of the previous year;

  • The President of Angola decided to extend for another 70 days the Decree that suspends the payment of customs duties on some food products;

  • In another Presidential order, the President authorized the privatization through an Initial Public Offering (IPO) of the stake that the State indirectly holds in Banco Africano de Investimentos (BAI);

  • In October, BNA again sold foreign exchange to commercial banks, albeit a small amount, of USD 10.1 million;

  • In the foreign exchange market, the Kwanza appreciated by 1.6% against the Dollar to USD/AOA 585 and 1.8% against the Euro to EUR/AOA 659.8;

  • BP has announced the start of oil production in the Platinum deepwater field in Block;

  • The discovery of a new variant of the Covid-19, named Omicron, is generating some concerns, causing the Brent to drop nearly $10 on Friday, recovering today to close to USD 76.

Best regards,

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