Luanda News

Johannesburg, South Africa

The top 10 wealthiest cities in Africa: AfrAsia Bank & New World Wealth (Infographic)

AfrAsia Bank and New World Wealth recently reviewed the 10 wealthiest cities in Africa by total wealth held.

Standard Chartered

Standard Chartered Looks Beyond Oil Industry for Angola Growth

Standard Chartered Plc will look beyond Angola’s oil and gas industry to pursue growth. The bank remains committed to Angola even as the country has had to deal with the plunge in crude prices.

Eko Atlantic City, Lagos, Nigeria (Illustration)

Africa's planned cities and the future

One of the objectives of Sustainable Development Goals is to have sustainable cities that provide opportunities for all, including access to basic services, energy, housing and transport. Some African cities like Lagos and Kigali are on the move.

Luis Gravito, Senior Partner & Managing Director, BCG

Boston Consulting Group opens office in Lagos, 4th in Africa

The Boston Consulting Group has opened an office in the Nigerian city of Lagos, its fourth in Africa.

Shop Africa 2016: Knight Frank

Shop Africa 2016 (Report & Infographics): Knight Frank

Sub-Saharan Africa is experiencing a wave of modern shopping mall development. The retail sector has become a major focus for development activity in recent years, as investors have been attracted by the growth potential of African consumer markets.

Hospitality Market Snapshot 2015 - Oil Economies - Accra, Lagos and Luanda (Report): HTI Consulting

Hospitality Market Snapshot 2015 - Oil Economies - Accra, Lagos and Luanda: HTI Consulting (Report)

Between 2011 and 2012, the price of oil was at its highest levels in recent times, at close to $110 per barrel. By the end of 2014, an oversupply of oil saw the price of oil drop to below $100 per barrel. In 2015, prices dropped as low as $49. In 2016, prices have dipped as low as $30 and currently stand at about $40 per barrel.

Africa’s millionaires are in Nigeria, Egypt, South Africa with some in Kenya too

Africa's millionaires are in Nigeria, Egypt, South Africa with some in Kenya too (Infographics)

It’s beginning to sound like a broken record, but the Africa rising mantra increasingly rings true.

The businessman and art collector Sindika Dokolo in Porto, Portugal. Credit Patricia de Melo Moreira for The New York Times.

Husband of one of Africa's richest women fights for African art

Sindika Dokolo, a Congolese businessman and art collector, is on a crusade to force Western museums, art dealers and auction houses to return Africa’s art, particularly works that might have been removed illegally during the colonial era.

President Jose Eduardo Dos Santos (Left) walks with his French counterpart Francois Hollande by guards of honor at the Presidential Palace in Luanda on July 3, 2015 (AFP Photo/Alain Jocard)

France & Angola sign business deals from oil to hotels

France and Angola on Friday signed business agreements covering a wide range of economic sectors from oil to hotels, which are potentially worth several hundred million dollars, French officials said.

The role of cities in Africa's rise - KPMG

The role of cities in Africa's rise: KPMG (Infographics & Report)

New dynamic markets around the globe are offering boundless opportunities. Firms are gravitating towards new markets in the south and the east, where the inflow of foreign direct investment (FDI) are resulting in returns on investment (ROI) far exceeding those of mature markets in Europe and North America.

The top eight busiest ports in Africa

The top eight busiest ports in Africa (Photos and Infographic)

Check out a list and photos of the top eight busiest ports in Africa. Also, check out the infographic on the Port of Durban, Sub-Saharan Africa’s largest port and the second largest on the continent.

Luanda, Angola’s capital city. Angola is rich in national resources, particularly oil and gas.

Angola's capital Luanda remains 'most expensive city' for expats in Mercer's 2015 Cost of Living ranking

The Angolan capital, Luanda, remains the world’s most expensive city for expatriates, according to an annual survey by consultancy Mercer.

Mango Airlines

10 budget airlines changing Africa's skies

Traveling across Africa’s huge distances can be expensive. Not that long ago, getting from one city to another often meant a connection in Europe. That’s finally changing.

Angola’s $750 Million Sugar-to-Fuel Project to Start in June.

Angola's $750M Sugar-to-Fuel Project to Start in June

A $750 million project to produce ethanol and sugar in Angola will start next month after a year of delays as costs rose 50 percent on a plantation larger than Montreal.

Into Africa - The continent’s Cities of Opportunity - PwC

Into Africa: The continent’s Cities of Opportunity - PwC (Video, Presentation, and Report)

Megatrends are colliding across Africa. The growing middle class, the strong demographic growth with improving age mix, the technological innovation that we have already seen in mobile payments for example, growing choice of investment partners from the global south and fast-paced urbanization are shaping what the future of Africa could look like.

Dar es Salaam, Tanzania

Africa will have faster economic growth than any other region by 2040: PwC

Savvy CEOs already recognise the economic clout Kinshasa, Johannesburg and Lagos have in Sub-Saharan Africa (SSA).

The top 10 cities for Africa's millionaires

The top 10 cities for Africa's millionaires (Photos, Videos, & Infographic)

Wealthy Nigerians used to travel abroad to get their fix of luxury goods. However these days, they can take a stroll around Victoria Island, an exclusive neighborhood in Lagos where brands like Porsche, Hugo Boss, and Ermenegildo Zegna line the streets.

The final look from Nadir Tati’s “40 years Of Independence” collection (Photo Credits: Rui Vasco)

At Portugal's Fashion Week ModaLisboa, It Was Angola That Reigned

It is one of Europe’s longest standing fashion weeks, initiated in 1991, and concluded its 44th edition over the past weekend. ModaLisboa is the bi-annual event in which Portugal’s fashion capital Lisbon gets to show what its local fashion industry is all about.

Steers

South Africa's Famous Brands, owner of Debonairs Pizza and Steers burgers, in partnership talks with Shoprite on Nigeria

Famous Brands Ltd. (FBR), the South African owner of fast-food chains including Debonairs Pizza and Steers burgers, is in talks with supermarket operator Shoprite Holdings Ltd. (SHP) about expanding a partnership to Nigeria and Zambia.

Jose Eduardo dos Santos, Angola's President

Angola to further cut fuel subsidies in 2015 on low oil prices, says President Jose Eduardo dos Santos

Angola, Africa largest oil producer behind Nigeria, plans to keep decreasing fuel subsidies next year after it raised gasoline and diesel prices by 20 percent last week, President Jose Eduardo dos Santos said.

Africa Mall, Luanda, Angola

New shopping malls: A sign of Angola's rising middle class

“It’s a great joy for Angolans,” says Luciano Manuel, nudging his trolley through a huge supermarket in the Angolan capital of Luanda.

Nadir Tati

Nadir Tati: The Angolan Designer That Sells $10,000 Dresses

It’s the African cash cow that produces oil, diamonds and more recently, fashion.

Retail in Africa

Africa set to be the new retail mecca

International retail brands say Africa’s retail growth is expected to more than double over the next five years and the continent will become the new international retail melting point.

Luanda, Angola: Angola is one of the countries in which One Re currently operates.

London reinsurer One Re expanding into 38 African countries by 2015

One Re Ltd., the first reinsurer approved under Britain’s “twin peaks” system of financial regulation, said it’s seeking clients across 38 African countries in the next year as growth outpaces developed regions.

Luanda, Angola

Angola Cables to build the world's first submarine cable across the South Atlantic, connecting Angola to Brazil

Angola Cables has signed a contract to build the world’s first submarine cable system across the South Atlantic with NEC Corporation as the system supplier.

Angola's first satellite, AngoSat-1, to launch in November 2016

Angola's first satellite, AngoSat-1, to launch in November 2016

Angola’s first satellite, the AngoSat-1, will be ready for launch into orbit in November 2016 and will provide telecommunication services throughout the country, officials said in Luanda, reports Luanda.

Arik Air

Nigeria's Arik Air launches frequent flyer program - Arik Affinity Wings

Arik Air, West and Central Africa’s largest commercial carrier, has launched a frequent flyer program, aligning its offering with the industry’s foremost airlines in the process.

TAAG Angola Airlines

Emirates boosts African growth with TAAG Angola Airlines partnership

Emirates, the world’s biggest airline by international traffic, forged a 10-year management accord with Angola’s national airline that will allow the Arabian Gulf carrier to expand in Africa.

Luanda, Angola

Angola's $5B sovereign wealth fund nearing African, global private equity-style deals

Angola’s fledgling sovereign wealth fund has identified direct investments in sub-Saharan Africa, and is poised to start deploying up to a third of the $5 billion it has been endowed by the government, its chairman said.

Business

Doing Business In Sub-Saharan Africa: Six Aspects To Consider

Many companies from the developed world are setting their sights on Africa as a new frontier for business.

Itumeleng Mothibeli manages the mall and 13 other shopping centers that have sprung up to serve a black South African middle class that spends more money than the white middle class

Africans Open Fuller Wallets to the Future

Across sub-Saharan Africa, consumer demand is fueling the continent’s economies in new ways, driving hopes that Africa will emerge as a success story in the coming years comparable to the rise of the East Asian Tigers in the second half of the 20th century.

Luanda, Angola

Is now the right time to invest in Angola? Yes: Teodoro Poulson, Head of Investment Strategy, Fundo Activo de Capital de Risco Angolano (FACRA)

Investing in sub-Saharan African countries should be a straightforward matter. It is a region rich in natural resources and fertile land, with some of the youngest populations on the planet who are increasingly educated and hungry for opportunity.

Construction cranes operate among new skyscrapers being built in the business district of Luanda, Angola

Angola’s $7 Billion Waterfront Project Seeks to Attract Hilton Hotels

Builders of a $7 billion waterfront development in Angola’s capital, Luanda, are seeking to attract an international hotelier such as Hilton Worldwide Holdings Inc. (HLT) to boost the profile of the project.

Pray for Portugal

Portugal indebted to Angola after economic reversal of fortune

The cash-strapped European nation is coming to terms with effects of heavy investment from its oil-rich former colony.

Jose Eduard Dos Santos, President of Angola

Angola to Buy Trains & Power Generators From GE in $1B Deal Financed by US Ex-Im Bank

Angola’s government plans to buy trains and power generators from General Electric Co. (GE) worth about $1 billion in a deal financed by the Export-Import Bank of the U.S., the lender’s president said.