The Board of Directors of the African Development Bank Group (www.AfDB.org) on Tuesday approved a $165 million loan to finance part of Angola’s three-year economic diversification support program intended to restore the country’s macroeconomic stability.
The Governments of Angola and Portugal and the African Development Bank, will sign a Country-Specific Compact designed to accelerate the inclusive, sustainable and diversified growth of Angola’s private sector.
Angola is ranked second largest oil producing country in Sub-Saharan Africa and an OPEC member with an output of approximately 1.55 million barrels of oil per day and an estimated 17,904.5 million cubic feet of natural gas production.
The African Energy Chamber is pleased to announce that it has appointed Mr. Sergio Pugliese as President for Angola, effective May 1st 2019.
The African Development Bank has organised a roadshow to drum up support from Angolan investors ahead of the second edition of the Africa Investment Forum (AIF) in November 2019.
After a year of rebound and recovery, Africa’s old and new hydrocarbons markets have an opportunity to further entrench the continent’s position as the world’s hottest oil and gas frontier in 2019.
The first eleven months of 2018 saw Angola make more money from oil than in any of the previous four years, at the tune of USD$8.7 billion