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Africa’s Growth Potential – And Its ‘Next 10’ Biggest Cities

AFRICANGLOBE - Global investors are increasingly taking note of the untapped potential of Africa, particularly its unparalleled demographic edge. According to a new report, Africa will be enjoying faster economic growth than any other region - and will have the world's biggest labour force.

Total Going Ahead With $16 bln Angolan Kaombo Oil Project

AFRICANGLOBE - France's Total said it had decided to go ahead with the Kaombo oil project offshore Angola after reducing its cost by $4 billion to $16 billion, an advance that could help Angola keep up oil output over the long run.

Angola And The Lost Manufacturing Powerhouse Of The Planalto

AFRICANGLOBE - Huambo used to be a centre for large-scale agriculture and manufacturing projects, but it has not recovered from the impact of Angola's long civil war. When President José Eduardo dos Santos opened it on the eve of the 2008 elections, the newly renovated park in Huambo's uptown district of Cidade Alta seemed like a magical world.

Africa’s Most Expensive City: And The Winner Is…

AFRICANGLOBE - To ensure that their employees’ spending power is not compromised while on international assignment, multinational companies will often include a cost of living allowance in their pay package. Living costs for assignees are affected by inflation, availability of goods and exchange rates, all of which can have a significant impact on assignee remuneration packages.

Is Islam Banned In Angola?

AFRICANGLOBE - What we know for sure is that the Angolan Culture Minister Rosa Cruz e Silva said last week that her government wanted to reduce the number of 'sects' in Angola. In Huambo a Mosque has been closed by the provincial authorities and in Saurimo a minaret had to be dismantled.

Total’s New Oil Project, CLOV May Make Angola Africa’s Top Oil...

AFRICANGLOBE - The $10 billion CLOV project in Block 17 will produce 160,000-barrels-a-day, helping Angola achieve a target of 2 million barrels a day by 2015 and rival Nigeria as the continent’s leading producer

African State Of Angola Bans Islam All Mosques To Be Destroyed

AFRICANGLOBE - By popular demand, Angolan authorities have taken pre-emptive action and decided to ban the Muslim religion, which they consider a cult, NOT a religion. They see what Muslims are doing to non-Muslims, especially in Africa, and are taking steps to prevent the same from happening in Angola.

Cost of Living for Expats Soar in Africa’s Oil-Rich Capitals

AFRICANGLOBE - Prices in Luanda, Angola's capital, are the stuff of legend. While some rumours sound far-fetched, such as $100 watermelons, you can expect to pay $200 for a pair of jeans, $50 for a hotel hamburger, and prices in supermarkets are 'absurd', says local lawyer.

Statoil Hints At Angola Shale Reserves Exploration

AFRICANGLOBE - Norwegian multinational oil and gas company, Statoil has revealed that apart from plans to explore Russian Shale, it sees offshore Angola as the “next big gamble” and plans to start drilling next year, after securing several blocks in the region.

How An African Princess (Isabel Dos Santos) Banked $3 Billion In...

Oil is Angola’s greatest natural asset. The country produces 650 million barrels per year, most of it exported. The state-owned oil firm, Sonangol, is so profitable that it was only a matter of time before the Dos Santos family would start looking for ways to hitch a ride on its success. Isabel’s banking partner, billionaire Americo Amorim, would play the key role.

Luanda: Most Expensive City In The World

AFRICANGLOBE - Luanda, the capital of Angola is the world’s most expensive city for foreign workers, according to a study by US consulting firm, Mercer Group. A statement published this week on the company’s website says Luanda regained the top spot in an annual survey of the most expensive cities for expatriates, followed by Moscow (Russia) and Tokyo (Japan).

Angola To Export 50 Million Barrels Of Oil In September

AFRICANGLOBE - The Financial Times newspaper recently filed a report which seemed to suggest that Angola could become Africa’s biggest oil producer in 2014, overtaking Nigeria, if current trends continue. That is if production in Nigeria stays at the current 2million daily production.

Angola Wants to Become Next African Tech Hub

AFRICANGLOBE - The South-West African nation of Angola has expressed a desire to become a technological and internet hub in Africa. The commercial and marketing director of Angola Cable, Artur Mendes stressed the importance of developing the country.

Angola Exports First Liquefied Natural Gas Cargo to Brazil

AFRICANGLOBE - Africa’s second largest oil producer, Angola has exported its first Liquefied Natural Gas (LNG), with the maiden shipment departing from Soyo northern province of Zaire, to Brazil.

Angola a Rewarding Market for Patient Investors

Angola is seeing significant infrastructure development. “There is a lot of development on the infrastructure side. There is construction everywhere and they are really turning the capital Luanda into a nice city.”

Angola: Illegal Immigration Poses Threat to National Security

AFRICANGLOBE - The phenomenon of illegal immigration in Angola lately has reached worrying dimensions, posing a threat to political, economic and social stability, as well as national security, said Angola's Interior minister, Angelo Veiga Tavares.