Huawei plans to invest $60 million to build an official park for training and sharing experience on the most advanced new technologies. The investment was part of a deliberation between Huawei’s director in Angola, Chu Xiaoxin, and the vice-president of Angola, Bornito de Sousa. Chu Xiaoxin said that the park will be built next year and integrates the components of staff training and experience sharing.
vice-president of Angola, Bornito de Sousa
“We will train Angolan talents, according to us we have the education centre, we will accompany our partners and clients for the innovation of new technologies, and then we have an experience centre, we will bring the most advanced and new technologies to Angolan society,” the head of the Chinese multinational said. According to Chu Xiaoxin, the total investment is more than $60 million and its inauguration and commissioning are scheduled for December next year, to train more than 1,500 partners or engineers.
Chu Xiaoxin pointed out at the meeting in addition to addressing the company’s operations in Angola Huawei’s donation and contribution efforts in social responsibility. “Especially some donations of technological equipment to Angolan society and how our businesses were affected by the pandemic. But we have all the confidence to accompany the Angolan Government’s development efforts,” he stressed.
Huawei had earlier signed a memorandum of understanding with the Angolan Ministry of Foreign Affairs in the field of training talent in information and communication technologies (ICT). The company plans to provide 500 hours of ICT training to 50 civil servants to learn the latest technologies in the industry, and 3,000 hours of Huawei certification training for ICT-related employees.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
Angola is making huge plans to attract much needed foreign direct investment come next year. To this end, the country is speeding up its economic reform processes to make its investment laws in line with international best practices. The country has outlined series of events aimed at attracting investors with year-long FDI campaign in 2020 to promote capital inflow into bankable projects, first being the Angola Oil & Gas Conference & Exhibition which comes up on June 16-17, 2020 in Talatona. Add to this, there will be the Angola Investment Capital 2020 event which will capitalize further on the critical reforms passed by Angola President H.E. President João Manuel Gonçalves Lourenço.
President João Manuel Gonçalves Lourenço
Africa Oil & Power, the continent’s premier platform for energy investment and policy, will return to Angola in 2020 for a year-long campaign to promote and attract foreign direct investment in one of Africa’s biggest economies. ‘Angola: African Investment Capital 2020’ will capitalize further on the critical reforms passed by Angola President H.E. President João Manuel Gonçalves Lourenço to bring attention to the investment opportunities that exist in Angola’s economy.
Endorsed by the Ministry of Mineral Resources and Petroleum and in partnership with the African Energy Chamber, the Angola Oil & Gas (AOG) Conference & Exhibition will return for a second year as the focal point of an international investment drive aimed at bringing new deals to the table and signing up new entrants to Angola’s oil and gas sector. Surrounding the conference will be a year-long global drive to present opportunities to a targeted audience of relevant investors.
“Thanks to the President’s sweeping reforms, Angola has embarked on an ambitious drive to attract foreign direct investment,” said Guillaume Doane, CEO of Africa Oil & Power and Africa Oil & Power is proud to support those ongoing efforts with a global promotional campaign, he said. The AOG Conference & Exhibition, which has become an unmissable, unrivaled national investment event, will provide a strong anchor point for the 2020 initiative.”
Capital inflows into bankable projects will be a primary objective of the 2020 effort. Ongoing initiatives being promoted include the 2020 oil and gas licensing round, marginal field development, gas monetization, Sonangol’s Regeneration Program and attractive projects across the value chain, including the international tender for the Soyo refinery and the ramp-up of the Cabinda and Lobito refineries.
The AOG Conference & Exhibition is the second edition following a highly successful inaugural event in June 2019 that brought more than 1,700 delegates, 67 speakers and nearly 50 exhibitors. Officially endorsed by the Ministry of Mineral Resources and Petroleum, AOG 2019 gathered key government officials and C-suite executives from across the energy value chain for a week of keynote presentations, moderated panel discussions, exhibitions, networking gatherings and investment facilitation.
With two days of conference and exhibition, and one day of workshops led by Microsoft, PwC, Centro de Apoio Empresarial, Friburge and Administração Geral Tributária, Angola Oil & Gas 2019 was one of the most highly attended events in Angola’s oil and gas history. H.E. President Lourenço and H.E. Diamantino Pedro Azevedo, Minister of Mineral Resources and Petroleum, opened the conference, with speeches delivered by H.E. José de Lima Massano, Governor of the National Bank of Angola, Eng. Seabstião Pai Querido Gaspar Martins and Eng. Paulino Jerónimo, CEO of ANPG. Private sector keynotes and appearances were given by Total CEO Patrick Pouyanné and ExxonMobil’s Senior VP of Upstream Oil & Gas Deepwater Hunter Farris, among others. The event received strong support from the Angolan oil and gas industry, with major players including Sonangol, Total, ExxonMobil, Chevron, Eni, Equinor, BP, Schlumberger, Baker Hughes, Halliburton and other international companies participating as sponsors, exhibitors, speakers and delegates.
The 2020 event aims to expand in size, scale and prestige. Anchored by a VIP program of senior government officials and global CEOs, AOG 2020 will be the premier gathering for deal making and networking. Discussion points will include offshore oil and gas exploration and licensing, gas monetization, market entry, the ease of doing business in Angola, digitalization and oilfield technologies. New to the conference will be a Digitalization and Technology forum, which will showcase advanced technologies pioneered in Angola on the exhibition floor.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
MR. Armando Manuel, an Angola national, serves as the World Bank Group Alternate Executive Director for Angola, Nigeria, South Africa since November 1, 2018.Prior to this appointment, Mr. Manuel was IMF advisor in Public Finance Management based in Washington DC. He served as Minister of Finance of Angola from 2013 to 2016.
He also held various senior level positions, including Economic Policy Advisor to the President and Chairman of the Angola Sovereign Wealth Fund. At the Ministry of Finance since 1993, he led the Department of Treasury’s Operations in 2003 and lately, in 2006, became the National Director of Treasury. Mr. Manuel lectured economics at the Agostinho Neto University, Catholic University of Angola and Instituto Metropolitano de Angola. He was Fiscal Policy researcher at the CEIC (Center of Studies and Scientific Research owned by Angola Catholic University).
Mr. Manuel graduated in 1996 in economics (BSc) from the Agostinho Neto University in Luanda, Angola, and holds a MSc in economics from London Guildhall University in London in 2001, United Kingdom. In 2014, Mr. Manuel was awarded Finance Minister of the Year by the African Banker Organization.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.
THE Angolan government says it remains committed to subsidies removal but needs to balance reforms with the goal of diversifying the economy away from its heavy reliance on oil. This is coming amid criticism from the International Monetary Fund (IMF) over the subsidies.
Angolan Minister of Finance Vera Daves
Speaking on the issue yesterday in Washington D.C. on the sidelines of the ongoing International Monetary Fund (IMF)/World Bank annual meetings, the Angolan Minister of Finance Vera Daves, the first woman to head the Treasury of Africa’s second-largest oil producer, says the government has ended support for industries, including electricity and water, but would continue to provide fuel subsidies for agriculture and fishing for the time being.
“We need to remove subsidies, that is right, but we also need to create conditions in sectors that are not as efficient as oil,” she adds. The IMF had in March, this year approved a $3.7 billion loan programme for Angola, has criticized the subsidies, saying they contradicted the government’s stated reform policy. The country has been working on economic diversification from oil to cushion the effect of price fluctuations.
GE Healthcare has announced the appointment of Maria do Rosario Boavida as the Country Leader for Angola. Maria is the first Country Manager for GE Healthcare in Angola. Ms. Boavida will lead the market strategy and growth plans for GE Healthcare with public and private sector partners in Angola.
According to the General Manager GE Healthcare West, Central and French Speaking Sub Saharan Africa, Eyong Ebai, this appointment is in reiteration of the company’s commitment to work together with the government and private sector in order to develop sustainable outcome-based healthcare solutions in an effort to support Universal Health Coverage (UHC) in Angola. He added that empowering decision-making at a local level is at the core of the company’s localization strategy for Angola. “We believe that Maria’s appointment is a further step in making our vision for the country a reality. We are also glad to bring on board someone with the experience in the healthcare industry and passion for the Angolan market to continue to drive our growth and meet our customers’ healthcare needs in Angola,” he said.
General Manager GE Healthcare West, Central and French Speaking Sub Saharan Africa, Eyong Ebai
Maria brings over 30 years experience in the pharmaceutical industry having worked extensively in Portugal as well as Angola. In the last 10 years, she has held top managerial positions in the pharmaceutical industry working in Portugal as well as in Angola. She has been living in Angola in the last 10 years holding top managerial positions in companies such as Bayer HC where she was responsible for implementing, delivering and developing the pharmaceutical business specifically in the areas of Family Planning and Cardio diseases.
Maria later joined Sanofi as the Country Manager for Angola where she introduced and implemented the use of insulin in diabetic patients by managing a program for healthcare professionals in both public and private sectors in Angola. It is from Sanofi that she joined GE Healthcare in June 2019.
Speaking on her appointment, Maria do Rosario Boavida said that she is honoured and excited to take on this role to lead GE’s Healthcare business in Angola, “as we deliver on our mission of improving lives in moments that matter,” adding that “as a leader in healthcare, we will continue to align our solutions and initiatives with the country’s National Health Development plan to assure access to basic health care for all people of Angola.”
With over 120 years in Africa, GE is working with governments, NGOs and private sector partners to drive access to quality and affordable healthcare services through new delivery models in primary healthcare, providing capital solutions, advancing skills for healthcare professionals and providing technologies and innovations with clinically and economically relevant value propositions.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.
As part of efforts to expand its facility across the African continent, African Export and Import Bank (Afreximbank) has signed a Trade Facilitation Programme worth $50 million with the Banco de Fomento Angola (BFA). With this development, the BFA becomes the first Angolan financial institution to sign up to Afreximbank’s Trade Facilitation programme (AFTRAF) for an initial $50-million line of credit.
Dr Benedit Oramah, president, AfriExim Bank
The AFTRAF was instituted with the aim of supporting African banks to bridge the gap created by the withdrawal of international correspondent banks from the continent. Thus the BFA will use the AFTRAF line of credit to confirm letters of credit and to issue guarantees, avalisation and other trade enabling products, said Afreximbank in an announcement in Cairo today. The line could also be increased based on demand from the Angola market.
According to Afreximbank, the AFTRAF programme provides access to a global network of confirming banks and complements the capacity of African banks to provide trade financing solutions by providing risk mitigation in new or challenging markets where trade lines may be constrained.
The AFTRAF programme is expected to help African importers and exporters to increase their trade volumes with African counterparties and internationally and to enhance confidence in the settlement of international trade transactions for critical imports into Africa while ensuring access to trade finance at reasonable cost.
So far, 100 Banks from 26 Afreximbank member countries have signed on to the AFTRAF
The signing of the AFRAF facility by BFA is part of ongoing cooperation between Afreximbank and BFA as both are actively engaged in other areas in support of the Angolan economy.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.
The Basketball Africa League (BAL) today announced Cairo (Egypt), Dakar (Senegal), Lagos (Nigeria), Luanda (Angola), Rabat (Morocco) and either Monastir or Tunis (Tunisia) as the host cities where the inaugural BAL regular season will take place and Kigali (Rwanda) as the host city for the first-ever BAL Final Four and BAL Final.
Additionally, the BAL announced NIKE and Jordan Brand will be the exclusive outfitter of the new professional league featuring 12 club teams from across Africa and scheduled to begin to play in March 2020.
The announcements were made by BAL President Amadou Gallo Fall during a reception at the Musée des Civilisations Noires in Dakar in the presence of FIBA Secretary General Andreas Zagklis, FIBA Africa Executive Director Alphonse Bilé, NBA Commissioner Adam Silver and NBA Deputy Commissioner Mark Tatum, along with current and former NBA and WNBA players.
“Today’s announcements mark another important milestone as we head into what will be a historic first season for the Basketball Africa League,” said Fall. “We now have seven great host cities where we will play and our first partnership with a world-class outfitter. We thank our first partners NIKE and Jordan Brand for supporting us on this journey and ensuring our teams have the best uniforms and on-court products.”
Beginning in March 2020, the six cities will host a regular-season that will feature 12 teams divided into two conferences, with each conference playing in three cities. The regular season will see the 12 teams play five games each for a total of 30 games, with the top three teams in each conference qualifying for the playoffs. The six playoff teams – the “Super 6” – will play in a round-robin format to determine the four teams that will advance to the BAL Final Four and BAL Final in Kigali, Rwanda in late spring 2020. The BAL Final Four and BAL Final will be single-elimination games.
NIKE and Jordan Brand will outfit the league’s 12 teams with official game uniforms, warmup apparel, socks and practice gear, with six teams featured in NIKE and the other six teams in Jordan Brand. The collaboration with NIKE and Jordan Brand marks the BAL’s first partnership.
The announcement about the NBA and FIBA’s launch of the BAL, which would mark the NBA’s first collaboration to operate a league outside of North America, was made at the NBA All-Star 2019 Africa Luncheon in Charlotte, North Carolina on Saturday, Feb. 16.
The NBA and FIBA also plan to dedicate financial support and resources toward the continued development of Africa’s basketball ecosystem, including training for players, coaches and referees, and infrastructure investment.
Additional details about the BAL will be announced at a later date.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.
The Governments of Angola, Portugal, and the African Development Bank have entered into a Country-Specific Compact designed to accelerate the inclusive, sustainable and diversified growth of Angola’s private sector.
The Lusophone Compact is a financing platform, involving the African Development Bank, Portugal, and the six Portuguese-speaking countries of Africa (PALOPs): Angola, Cabo Verde, Equatorial Guinea, Guinea-Bissau, Mozambique, and Sao Tome and Principe. It provides risk mitigation, investment products, and technical assistance to accelerate private sector development in Lusophone African countries.
The signing of the compact follows a Memorandum of Understanding of a Development Finance Compact for Portuguese-Speaking Africa, signed during the Bank’s 2018 Africa Investment Forum held in Johannesburg, South Africa.
The compact signing ceremony will be a highlight of various events to be held at the Luanda International Fair aimed at invigorating Angola’s private sector and promoting economic growth. The event will convene entrepreneurs, development finance institutions and partners, investors, key public and private sector players.
The Bank will be represented by Corporate Services and Human Resources Vice President and Chair of the Lusophone Compact Steering Committee, Mateus Magala, while the Angolan Government will be represented by Hon. Pedro Luís da Fonseca, Minister of Economy and Planning. H.E. Teresa Ribeiro, Secretary of State for Foreign Affairs and Cooperation, will sign for Portugal.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.
Africa’s richest woman Isabel dos Santos is poised to widen her wealth margin. Her latest offer is for a 25.6% stake, representing € 1.2 billion in one of Brazil’s leading telecom operators, Oi.
Here Is The Deal:
Isabel dos Santos is making a preliminary offer for the acquisition of shares of Portugal Telecom SGPS, a company in the process of merging with Oi, for a total of € 1.2 billion.
Hence, if the merger becomes successful and Isabel finally acquires the 25.6% stake in Portugal Telecom SGPS, she would invariably be holding a 25.6% stake in Oi Telecom.
But it appears she is doing this as a strategy to block the sale of Portuguese Telecom assets by Oi, of which she may be affected. In the merger with Portuguese Telecom, the Brazilian Oi Telecom incorporated the PT Portugal subsidiary, which brings these assets together.
In order to raise funds for the consolidation of the telecommunications market, Oi is going to sell the operational PT after the merger.
The move comes just days after European group Altice voiced interest in the PT’s assets in Portugal for about € 7 billion. Terra Peregrin, controlled by Isabel, said it was willing to pay € 1.35 per share of PT, an 11% premium. But Isabel appears to have an edge because she is a shareholder of the Portuguese operator competitor NOS. The negotiations for the Portuguese assets continue and new proposals may be presented.
The eventual offer of £1.2 billion by Isabel is coming with a condition: Isabel wants the merger between PT and Oi to be suspended until the 30th day after the settlement of the offer. The Board of Oi seems stuck at this point. It recently announced that it is considering “untimely” changes in agreed terms in the process.
Isabel is not seeing this deal as a hostile one at, all. Her spokesman told Portuguese newspapers that the offer for the shares of PT SGPS is not “hostile” and has as its objective the acquisition of a minority stake in Oi, allowing the maintenance of the Portugal Telecom group unit.
Once the merger is completed, the holding company PT SGPS no longer has the assets but has a relevant stake in Oi and the right of veto in strategic decisions. The share of PT SGPS in Oi is 25.6% and may be raised to 37.3% within six years.
The movement, according to the spokesman, was made in harmony with the objectives set out in a joint statement issued by Zopt last week. Zopt, the operator of the operator NOS, announced that it entered the battle for PT to defend the “national interest”.
But The Price Offer May Be Far From It
£1.2 billion? That may seem a serious far-cry from analysts. The Association of Investors and Technical Analysts of the Capital Markets, an entity that brings together minority shareholders of PT, has since issued a statement in which it supports the increase of the offer to € 1.94 per share – the value corresponds to the average share price in the six months prior to the offer.
Shares in Portugal Telecom, Lisbon, closed up 11.83%, to € 1.36 on Monday. Oi’s preferred shares rose 6.67% to R $ 1.28.
“If the offer is in fact serious and with the intentions described, the offeror should review it for the purposes of mandatory bidding, in particular by adjusting the counterpart (…). Otherwise, said offer can only be understood as a fun and strategic maneuver aimed at other interests, “the statement said.
Brazilian Telecoms
A Simpler Picture
Portugal Telecom SGPS is a holding company that is a partner of the Brazilian operator Oi, with 25.6% of the shares.
The stake was originally 37.3% but was reduced after Portugal Telecom bought 897 million in commercial paper from Rioforte, an arm of the Espírito Santo Group (GES), without the knowledge of the Brazilian operator’s direction and despite the economic fragility of the conglomerate, of which PT is a member.
The company took default in July. In addition to having a reduced share in Oi, PT SGPS is also the “owner” of the debt left by Rioforte. As Gores, owner of Rioforte has entered into judicial reorganization, the market finds it unlikely that the money will be recovered.
Isabel is considered a symbol of the “influence of power and wealth in Angola,” according to the Financial Times.
In an interview published in the diary in 2013, the Leading Business Woman of Africa described herself as an ordinary person, who drives on her own in Luanda and faces traffic like anyone else.
Africa’s richest woman’s fame, however, is that of an influential business woman who has created thousands of jobs to Angolans. “I do business.”
Isabel Dos Santos At A Glance
Aged 46, with a net worth of $2.3 billion, Isabel Dos Santos is the 8th richest person in Africa. She owns shares of Portuguese companies, including telecom and cable TV firm Nos SGPS.
In one of her interviews, Africa’s richest woman shared her advice to entrepreneurs:
‘‘Your best business bet is you, your skills, your motivation, and your passion. You must have an idea, make a five year plan, prepare your money, ground your idea in detail, be persistent, and partner yourself with a trusted team. Stay passionate always, and execute — don’t delegate.’’
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world.
