Economy - ANGOLA CHRONICLE

ANPG and Standard Bank Sign Memorandum to Support Local Oil Companies

Economy / 15/05/2026

The National Agency for Oil, Gas, and Biofuels (ANPG) and Standard Bank Angola (SBA) signed a memorandum of understanding on Thursday in Luanda to support and empower local companies in the oil sector. The document, signed by ANPG Board Chairman Jerónimo Paulino and SBA Executive Board Chairman Luís Teles, provides for spending of approximately $80 […]

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Economy

The Lobito Corridor at the heart of the Carrinho Group’s expansion strategy

Economy / 15/05/2026

Nelson Carrinho, CEO of the Carrinho Group, used the Africa Forward Summit in Nairobi, Kenya, to announce a $1.1 billion investment in various regions of Angola, with a focus on the network of silos along the Lobito Corridor and in the country’s most productive provinces. At the meeting, the Angolan businessman presented his company’s trajectory

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Economy

The banking sector has lost 1,400 workers over the past three years

Economy / 04/05/2026

According to Filipe Makengo, president of the National Union of Bank Employees of Angola (SNEBA), the national banking sector has lost a total of 1,400 workers over the past three years.In his view, the profit-driven logic of the market leads financial institutions to adjust their staffing levels whenever results are negative. “Human capital ends up

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Economy

Investment efforts aim for vital economic diversification

Economy / 30/04/2026

Since 2021, GDP growth in Angola has rebounded following five years of recession and is forecast to reach between 2% and 3% in the coming years. While the economy remains highly dependent on hydrocarbons, non-oil sectors – including agriculture, information and communications technology, manufacturing and public infrastructure projects – are driving economic activity. Angola has

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Economy