Africa-Press – Angola. The financing from the World Bank (BM), with 250 million dollars (one dollar is equivalent to kz 828,137), to support with resources the project of the Angolan Executive “Njila”, in eight provinces and 57 municipalities, is among the economic highlights of the week that ends Saturday.
The Njila project aims to strengthen the financial capacity of municipalities and improve the provision of local services, as well as strengthening capacity in the areas of public finance management, the preparation and implementation of municipal master plans and the improvement of the civil and issuance of the Identity Card.
Also mentioned this week was the announcement by Banco Angolano de Investimentos (BAI) that it has a financing line worth 600 billion Kwanzas, intended for granting credit to the national economy.
The president of the Executive Committee (PCE) of the banking institution, Luís Lélis, said that the amount will be divided to grant credit to companies and individuals, thus appealing to families and entrepreneurs to present projects that will be analyzed, according to individual capacity and execution.
Another notable fact has to do with the fact that 1,299 national products, especially food, already have the Made in Angola seal.
According to the President of the Board of Directors (PCA) of the National Institute for Support to Small and Medium Enterprises (INAPEM), João Nkosi, the label attributed by the Ministry of Economy and Planning (MEP), within the framework of the Executive’s strategies, to stimulate national production and the reduction of imports, now covers 303 companies.
According to the PCA, who spoke at the ceremony that marked the adhesion of Banco Angolano de Investimentos (BAI) to the “Made in Angola” seal, the manufacturing industry sectors have the highest number of seals issued with 70 percent of registration at national level.
Also highlighted in the economic news was the fact that the Australian company Rio Tinto invested five million dollars in a metal prospecting project, including zinc, copper, titanium and aluminum, in Moxico.
The production of base metals will be carried out in the municipalities of Alto Zambeze and Bundas, in Mexico, on an area of 9 thousand 887, 661 square kilometers.
Also noteworthy was the news that Angola is among the top five destinations for foreign investment in Africa for the year 2024, in a projection by BusinessDay, one of Nigeria’s largest economic and financial information magazines.
In the latest edition published this week, the magazine presents the list of five countries considered to be the most promising economies on the African continent in attracting investors in 2024.
Led by Senegal, the list is also made up of Namibia, Côte d’Ivoire and South Africa.
This week, Endiama announced that it plans to achieve a production of 14.6 million carats of diamonds this year, with the aim of generating gross revenue of 2.5 billion dollars (one dollar is worth kz 828,348).
“This is our plan for 2024. It is quite challenging, because in 2023 we had a sale of 9.7 million carats”, informed the president of the Board of Directors (PCA) of Endiama, José Ganga Júnior, speaking to the press at the board the balance of activities carried out by the company last year.
José Ganga Júnior said that Endiama raised, in 2023, more than one billion 511 million dollars, resulting from the sale of 9.7 million carats of diamonds.
The person in charge also made it known that Endiama will work to internationalize businesses in the diamond subsector to broaden its horizons and boost the national industry.
The week’s economic news also highlighted the fact that more than 73 percent of the financial community maintain a high level of confidence in current capital market practices and operations and an optimistic perception of the market’s future prospects.
The survey, presented on Wednesday, in Luanda, at the “Capital Market Panorama” event, promoted by (CMC), aimed to illustrate the behavior of macrofinancial variables and their impact on national and international financial markets, as well as present the perspectives and capital market risks in 2024.
When intervening at the event, the Executive Administrator of CMC, Nádia Pinto, said that the vote of confidence expressed by the financial community, not only values consolidated practices, but highlights the resilience and robustness of the Capital Market, during the dynamics and challenge in the scenario current economic situation.
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