Africa-Press – Angola. The President of the Republic, João Lourenço, authorized, by Order, the conclusion of export credit and commercial credit agreements between Angola and Société Générale, valued at 189,988,694.00 euros, equivalent in kwanzas to 194,288,518,122.61, to finance 85 percent of the amount of the commercial contract, with a view to materializing the project to implement the Earth Observation Satellite, also known as ANGEO-1.
According to the Presidential Order, the authorization also includes the global amount of 35,268,507.00 euros (36,066,703,850.42 in kwanzas) for the financing of the down payment (initial payment), corresponding to 15 percent of the commercial contract and 100 percent of the Risk Mitigation Commission.
The document authorizes the Minister of Finance, with the power to subdelegate, to proceed with the signing of the aforementioned agreements and all documentation related to them, on behalf of and in representation of Angola.
The Presidential Order also mentions that the financing of 85 percent of the value, which includes 100 percent of the SERV insurance premium, will be covered by the French Export Credit Agency “Bpifrance AE”.
Société Générale is one of the largest banks in Europe and one of the three major French financial institutions.
The ANGEO-1 satellite, considered high-performance, will be built by Airbus Defence and Space, in France. The device’s applications range from solutions to estimate agricultural productivity, monitor deforestation, construction works and detect oil spills and ships. ANGEO-1 also has the capacity to take more than a thousand high-resolution images per day, with “extreme” acquisition capacity, with a view to local, national and regional coverage, being efficient for the main Angolan applications.
The device also aims to contribute to the development of infrastructure, mapping of natural resources, maritime surveillance, fisheries, agriculture and the Population Census.
ANGEO-1 is also intended to promote the country’s development in many different sectors, such as improving the lives of citizens and diversifying the economy. The device will enable the country to continue developing space-based decision-making support tools, as well as increasing efficiency in various sectors, such as civil, public and security.
The first step towards the construction of the device was taken in March 2023, in Luanda, with the signing of the contract between the Ministry of Telecommunications, Information Technologies and Social Communication (MINTTICS) and Airbus Defence and Space.
A total of 15 Angolan specialists will be trained, under the contract, to operate ANGEO-1. This action covers the academic domain, which foresees the continuity of training for master’s and doctoral degrees in the space area. This training aims at the continuous pursuit of the Program for Building, Strengthening and Expanding Internal Skills, through the Knowledge Transfer and Targeted Training Program.
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