Archive of month: July 2017

Sub-Saharan Africa mobile users to exceed 500m by 2020

More than 500-million people across sub-Saharan Africa will be subscribed to a mobile service by the end of the decade, a new report shows. The report ‘The Mobile Economy: Sub-Saharan Africa 2017’, which was published by GSMA, forecasts that the number of unique mobile subscribers in sub-Saharan Africa will grow from 420-million at the end […]
7 years ago

Russian companies build refinery in southern Angola

Russian companies Rail Standard Service and Fortland Consulting Company laid the first stone of a refinery to be built in the town of Giraul de Baixo, Moçâmedes municipality, the capital of Namibe province, the Angolan press reported. The project, with overall investment of US$12 billion, includes the construction of a housing area for workers, a […]
7 years ago

SSA Highly Vulnerable to Oil Price Plunge

While core view remains that Brent crude prices will rebound: Oil prices have fallen in the past month, however a slowdown in global supply growth will see Brent crude begin to regain traction in the months ahead. Increasing crude production in North America, West Africa, Brazil and the UK will keep price growth flat in […]
7 years ago

The Bain Capital Credit fund made its first acquisition in Portuguese banking

…and sees potential for more investments in the country, particularly in real estate and poor credit. The loan portfolio purchased by Bain Capital is made up “mostly of bilateral real estate loans guaranteed by small and medium-sized companies and some large companies,” the fund said in a statement sent to newsrooms. “Collateral collateral for these […]
7 years ago

China Introduces Due Diligence Checks on Tax-Related Matters of Non-Residents’ Financial Accounts

Financial institutions established in China are now required to perform due diligence procedures on non-Chinese residents who hold financial accounts with the institutions, as well as to collect and submit requested financial account information to the Chinese authorities   The enforcement of Announcement 14 signals the localization of the Common Reporting Standard (CRS) in China, […]
7 years ago

China Three Gorges issues bonds to finance acquisitions in Portugal

China’s Chinese Three Gorges issued the equivalent of 650 million euros in “green bonds” to finance the acquisition of wind farms in Portugal and Germany. The amount in question is unprecedented in this type of issue to finance operations in Europe, Bloomberg reports, citing Standard & Poor’s. The emission by the world’s largest operator of […]
7 years ago

Oil under $ 40? Goldman Sachs sees this risk!

The alert is left by the investment bank in a note dated Monday, which says that the cartel needs to increase production cuts in order to stem the imbalance in the market. Without this type of action and the lack of evidence of sustained declines in inventories, as well as exploration activity in the United […]
7 years ago

Angola: BNA wants more efficient banking regulation and supervision

Approved 48 rules to conform to international rules. Angola's National Bank has ceded USD 30 million in foreign currency to letters of credit recent analysis by the World Bank, Published on 4 June in the Global Economic Prospects document. In the chapter on assessing the outlook for Sub-Saharan Africa, the Republic of Angola is As […]
7 years ago

International oil market conditions economic policy

Oil market instability persisted despite the announcement, at the end of May, For an additional extension of 8 months from the end of June 2017 of the supply reduction agreement between the OPEC countries and between these and some non-members (in this case, with particular emphasis on Russia and Mexico). The factors behind this loose […]
7 years ago