Oil tax revenue drops in first quarter this year

 Luanda - The oil tax revenue stood at 1.3 billion kwanzas in the first quarter of this year, Kz 800 billion less compared to the same period of 2022, during which the sector collected Kz 2.1 billion.

The value (Kz 1.3 billion) resulted from the sale of 96.84 million barrels of oil at an average price of USD 79.31, based on data available on the Ministry of Finance website, through the Special Taxation Directorate (DTE) .

As for the first quarter of 2022, in which the State collected 2.1 billion kwanzas, the country exported 103.144 million barrels, at an average price of USD 87.

The first quarter of this year (2023) loses with 2022, both in terms of the average price per barrel and in terms of the quantities of crude oil exported.

The revenue collected results from the payment of taxes on the transaction, sharing and production of crude oil.

Block 17 remains in the main position with the best performance, producing 32.5 million of the total barrels of crude oil exported, followed by Block 32, with 12.9 million, Block 0, with 12.8 million and Block 15 with 11.06 million barrels.

In 2022, oil tax revenues were around 9.108 billion kwanzas, in 2022, representing a growth of 51% compared to the same period (2021), which recorded revenues of Kz 6. 034 billion.

Revenue collected last year resulted from the sale of around 417 million barrels of oil, as well as the payment of taxes on the transaction, sharing and production of crude oil, according to the manager of the General Tax Administration (AGT), Tiago Santos, who was speaking at a press conference this Monday, in Luanda.

For this economic year of 2023, the Budget proposal has a reference price of USD 75 per barrel of oil, and an average daily oil production of 1.18 million barrels.

France to fund agribusiness projects in Angola

 Luanda - French Development Agency (AFD) has said it will fund agribusiness projects in Angola through the Angolan Development Bank (BDA), in a partnership between both institutions, as part of the diversification of the national economy, ANGOP learnt Wednesday.

According to a statement issued by the Ministry of Economy and Planning (MEP),  the initiative is part of the global movement called Common Finances and brings together the development banks of the two countries and seeks sustainability in the sector. 

The statement adds that the two sides discussed about the projects supported by the AFD in Angola and the possibility of broadening the agency's participation in the implementation of programmes and projects under the National Development Plan (NDP) 2023/2027. 

The MEP's minister, Mário Caetano João, is in France on a working visit, since May 15 leading a delegation that was received by the AFD's general director, Rémy Rioux.

The Angolan delegation includes the Secretary of State for Trade and the Secretary of State for Agriculture and Livestock, Amadeu Nunes and João Cunha, respectively, as well as the Angolan Ambassador to France, Guilhermina Prata.

Over 100 Angolans benefit from scholarships in US

 Luanda - More than 100 young Angolans students, aged between 25 and 35 years old, have benefited, since 2014, from a scholarship in the United States of America (USA), said Thursday the US ambassador to Angola.

The initiative is part of the "Mandela Washington Fellowship" project designed for young Africans.

Tulinabo Mushingi, said so to the press at the meeting with 17 new beneficiaries of the scholarship, of whom 14 are Angolan and three from São Tomé & Príncipe.

The diplomat said after six months of training in the US they will join the group of 5,800 young people on the continent, who have also benefited from the project

The ambassador said he expects from the graduates, after returning to their native country, to share experience with other young people, as well as help in permanent strengthening of ties between the peoples of America and Angola and São Tomé and Príncipe.

The US ambassador to Angola and São Tomé and Príncipe, Tulinabo Mushingi, asked the scholarship holders to be more engaged in actions for the development of communities, as well as offering them job opportunities to participate in the development of the country.

The beneficiaries who travel to the US, in June, will have the support of 28 institutions that will focus on passing on teaching in the field of business, civic engagement and public management.

These institutions represent the higher education diversity in that country and includes public and private schools, rural and urban campuses of small and large number of students.

Students will be organised on university campuses and will be supported in developing their leadership skills through academic studies, workshops, mentoring, networking with American leaders and collaboration with local community members.

Angola presents business opportunities in Germany

 Luanda – The Business and investment opportunities in Angola were displayed to German businesspeople, during the Angola-Germany Business Forum, ANGOP learnt this Monday.

Addressing the event, the minister of Economy and Planning (MEP), Mário Caetano João, presented the performance of the Angolan economy and the strategic vision of the National Development Plan, emerging from the 2050 long-term strategy.

The minister, who was cited by a press release, also presented his commitment to improving the business environment, the plans to promote grain production (Planagrão), animal protein production (Planapecuária) and fisheries (Planapesca).

The minister explained that the macroeconomic stability that the country is experiencing and the commitment to the diversification of the economy are only being possible, because of one factor.

According to him, the sector did not manage to finance over 40 projects until 2019. But the number rose significantly from 2020  reaching to more than a thousand projects until 2022.

Mário Caetano João appealed to businesspeople to invest in Angola, because, in addition to its internal market and productive potential, it is a space that represents a SADC's market gateway, comprising more than 300 million consumers and annually moves 750 billion dollars.

The CEO of Private Investment and Export Promotion Agency, AIPEX, Lello Francisco, presented the tax incentives and the facilities and support that the Agency offers to those who want to invest in the country.

While, the chairman of the Executive Committee of the Angolan Debt and Stock Exchange (BODIVA), Walter Pacho, says that another way of investing in Angola, in addition to the process of privatizing public companies, is in the agrarian sector, through stock Exchange.

In turn, the delegate for the German Economy in Angola, Vandré Spellmeier, considers that the active presence of investors at the forum reveals the high German interest in the Angolan market, in the areas that correspond to the pillars of the strategic vision of the PDN 2023/2027.

Angola and Germany

Germany and Angola, being two traditional partners, have projects that focus on the construction of infrastructures for the production of electricity, the pharmaceutical industry and in the field of Hospital Construction and Management.

Available information indicates that trade between Angola and Germany, in 2020, was estimated at 120 million euros.

EU praises Angola's diplomatic role in Africa

 Luanda - European Union has praised Angola's diplomatic role in the Southern African Development Community (SADC) and Great Lakes regions.

The praise was made by the head of EU delegation in Angola, Jeannette Seppen while speaking to journalists on Friday in Luanda.

This was at the end of the meeting with the head of the Commission of Foreign Relations, International Cooperation and Angolan Communities Abroad of the National Assembly, Alcides Sakala Simões. 

The EU official stressed that her institution was "very impressed" by the "very important" role played by Angola in the region, in particular by President João Lourenço in pacification of the conflicts. 

"We are following up this role with great interest and admiration," said the EU diplomat. 

Ambassador Jeannette Seppe and her interlocutor reviewed the situation in the Eastern region of the Democratic Republic of Congo (DRC) and the conflict in Ukraine, which she describes as important and very painful for the EU. 

Strengthening the Partnership with Angola 

The diplomat considered the partnership between the EU and Angola  increasingly stronger. 

She stressed the existing dialogue of European Union with all social class in the country,  as part of the partnership with Angolan Government.

To her, the National Assembly (the representative body of Angolans) is part of this inclusive dialogue between the EU and Angola. 

The Angolan government and the European Union (EU) recently signed in Luanda three funding agreements, estimated at 120.1 million euros, to implement new operational programmes of the government aimed at Human Capital and the Agribusiness sector. 

The amount was made available to fund the Multi-Year Programme (PIP), guaranteed for the 2021-2027 period, via the neighbourhood, development cooperation and international cooperation instrument. 

The partnership between Angola and the EU dates back to more than 35 years. The parties share the existing priorities in the Multi-Year Cooperation Programme with Angola, Economic Diversification, Human Capital Development, aspects that are also an EU priority.

Executive's commitment to strengthening family skills highlighted

 

Lubango – Angolan minister of Social Action, Family and Women's Promotion, Ana Paula do Sacramento Neto, highlighted Monday, in Huíla, the Executive's engagement in strengthening family skills, in the rescue of moral values and in the socioeconomic empowerment of families.

The minister was speaking during the opening of the 24th Session of the National Family Council taking place in Lubango, Huila, under the motto "Family Strengthened Society Developed".

Ana Paula do Sacramento Neto said that the State has paid particular attention to women, adolescents and young people, through the Ministry of Social Action, Family and Women's Promotion (MASFAMU).

The minister spoke of the implementation of a programme for Valuing the Family and Strengthening Family Skills, awareness actions, via the Jango de Valores project.

As part of the economic empowerment of families, she said that financial inclusion and literacy campaigns had been carried out, personal finance multipliers, opening of bank accounts and the attribution of Automatic Payment Terminals (APT).

The minister considered significant the results achieved with the actions, calling for the participation of all partners in mobilisation and awareness campaigns.

According to the official,  social stability and the development of any country depend on peace and security in families, stating that everything begins in the family.

However, she invited parents, children, churches, civil society, among other actors, to work on strengthening the families so that they can have a developed society.

 “The Executive, through MASFAMU, is working on drawing up a proposal for the National Action Plan on the Family in Angola that, in an inter-sector way, can respond to the various situations that affect families in Angola”, she said.

She said that in the context of the reform of justice and law, a process of revision of the Family Code is underway, which aims to keep up with the dynamics of life and increasingly defend the rights of families.

The municipal, provincial and national family councils, according to the minister, are an opportunity to reinforce the message of union, love and respect so that together, they can cultivate the spirit of tolerance and solidarity, with a view to establishing a good relationship among all family members.

The minister also defended the need to use the available mechanisms to raise awareness among the population about the importance of the family as a vital nucleus of society, to discuss their rights and responsibilities, as well as to promote knowledge related to issues social, economic and demographic conditions that affect it.

Ana Paula do Sacramento Neto pointed to the drama of family breakdown, the loss of fundamental values such as respect for life, solidarity, generosity, honesty, obedience and dialogue.

President João Lourenço analyses cooperation with Chinese ambassador

 Luanda - Angolan head of State João Lourenço and the Chinese ambassador to Angola Gong Tao Monday in Luanda discussed the state of cooperation between the two countries.

During the audience, the Angolan statesman and the China diplomat focused mainly on economic development, sharing values and mutual interests.

Speaking to the press at the end of the meeting, Gong Tao praised the two countries ties saying that they (relations) are in a good period, at a time both nations mark 40 years of partnership.

He said that the audience the president granted to him served to review the execution level of the strategic works underway in the country, financed by the Chinese government, with emphasis on the new Luanda International Airport "Dr. António Agostinho Neto".

The meeting also analysed the level of execution of the Caculo Cabaça hydroelectric plant, in the northern Cuanza Norte province, and Caio Airport, in Cabinda.

After reiterating his country’s financial support to Angola, the diplomat underlined that the Chinese and Angolan authorities will continue to maintain contacts at the highest level to increasingly consolidate political, diplomatic and economic relations.

“We intend to give new impetus to bilateral cooperation to obtain more fruitful results in the field of trade and economic investment”, highlighted the Chinese diplomat.

According to Gong Tao, trade between Angola and China reached a value of US$207 billion last year.

Angola and China are strategic partners, with political-diplomatic and cooperation relations that have seen a notable increase since 2000, leading to the signing of various legal instruments in the social, commercial and business domains.