25 May 2020
The matter of Angola´s USD 23 billion debt to China was addressed by the foreign ministers of both countries. Angolan minister Tete António also called attention to his counterpart to Angola´s privatization program, according to a statement from the Angolan Government.
20 May 2020
Transport of medical equipment from Wenzhou and Changsha, China, to Angola is being ensured by EuroAtlantic airways (EAA) from Portugal, at the service of Angola´s Bestfly. Irregularities in a first flight between China and Angola operated by Ethiopian Airlines led the Government to look for alternatives in supplies during the Coronavirus pandemic.
20 May 2020
Gong Tao, ambassador of China to Angola, is confident debt negotiations between the two countries will be successful, and that bilateral relations will actually emerge stronger from the current hardship. In an interview published in Angola, marking his first year as ambassador, he reveals the foreign ministers of the two countries spoke on the phone on 11 May, and vowed to strengthen “strategic ties”.
19 May 2020
China is Africa’s largest bilateral creditor, having given these countries estimated loans worth $152 billion between 2000 and 2018. With the economic crisis in countries like Angola or Mozambique generating debt repayment difficulties, negotiations are underway, with the engagement of China and private lenders.
17 May 2020
China Telecom Global (CTG), one of the world's leading providers of Information and Communication Technologies (ICT) services, has chosen Angola Cables as its preferred operator to reinforce its long distance connectivity services between Asia, Africa and America Latin. Recently, Macau telecom company CTM also partnered with Angola Cables.
15 May 2020
Huawei Angola intends, in a partnership with the Government, to train 2,500 Angolan professionals in the areas of Information and Communication Technologies (ICT), during 2020. According to Hongzhen Liu, Vice President of Huawei in Angola, the company also aims to certify 300 professional engineers.
15 May 2020
Chinese financial group KWG dropped out of a deal to buy the majority of the capital of Portugal-based BNI Europa, from Angolan bank BNI, led by banker Mário Palhares. According to BNI, KWG justified its decision with the context of uncertainty, caused by the covid-19 pandemic.
14 May 2020
Angola´s economy should contract by more than 4% in 2020, making even harder the management of the country´s debt, already above 100% of GDP, and a default possible, according to the Economic Intelligence Unit´s (EIU) latest report on the country. With China among Angola´s main creditors, a bilateral deal is likely, but negotiations could prove difficult.
12 May 2020
To assist in the fight against the Covid-19 pandemic, the Ministry of Health of Angola received on Monday the first of five cargos from China that will bring a total of 380 tons of biosafety materials, including such as medical ventilators, infrared thermometers and masks.
11 May 2020
The United Nations Economic Commission for Africa (ECA) estimates that a one-month full lockdown across Africa would cost the continent about 2.5 per cent of its annual GDP, equivalent to about USD 65.7 billion per month. With the costs of the Covid-19 lockdown mounting, the ECA is now proposing 7 Lockdow Exit Strategies for African Countries that that "provide sustainable, albeit reduced, economic activity".