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19 May 2020

Africa´s Debt Load Forces Negotiations, With China at the Center
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

US pushes China aside to finance Mozambique natural gas project
The Export-Import Bank of the United States (EXIM) will finance both the onshore and offshore facilities of an integrated liquefied natural gas (LNG) project located on the Afungi Peninsula in northern Mozambique, adding USD 1.8 billion to USD 5 billion previously pledged. The additional financing aims to push China and Russia financing aside, and generate business for US companies.
17 May 2020

Angola Cables partners with China Telecom Global to link Asia, Africa and South America
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

Portugal´s EDP pays China Three Gorges EUR 150 million in dividends
EDP, Portugal´s larget utility, is paying since Thursday EUR 695 million in dividends to its shareholders. A a fifth of the total, around EUR 150 million, will go to China Three Gorges (CTG), the largest shareholder, according to EDP.
15 May 2020

Huawei plans to train 2,500 ICT professionals in Angola
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 drops out of deal to buy Angola´s BNI european branch
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

Deal with China likely as weight of Angola´s debt burden grows
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.
13 May 2020

Portuguese Port of Sines delays new EUR 600 million terminal project for 1 year 
The bid for the construction of the new Vasco da Gama terminal at Portugal´s Port of Sines has been delayed until April 2021, according to the administration. In the meantime, Sines is moving ahead with the expansion of the existing terminal, operated by PSA Singapore, and wants to created an agro-industry hub for agricultural companies from Brazil. 
12 May 2020

Portuguese-Chinese Chamber of Commerce and Industry rejects new association for SMEs
The Portuguese-Chinese Chamber of Commerce and Industry (CCILC) has loudly rejected a new Portugal-China trade association focused on small and medium-size enterprises (CCPC-PME). In a statement, CCILC calls the new association "untransparent".
12 May 2020

Angola to receive 380 tons of biosafety equipment from China
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.
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