Ratings agency Fitch has downgraded Angola’s long-term foreign currency issuer with no outlook assigned. The ratings agency sited that the large increase in government debt and reduced external financing as reasons for the downgrade. Angola is among the many African countries that are faced are with a great deal of fear due to the large sums of debt that will be harder to commit to amid the COVID-19 crisis. Ridle Markus, Africa Strategist, Absa Corporate and Investment Banking joins CNBC Africa for more.
Angola is seeking to tackle a legacy of alleged corruption which has dogged the nation as it seeks to attract foreign investment into its struggling economy.
Angola’s President Joao Lourenco has embarked on an anti-corruption drive since taking power from Jose Eduardo dos Santos, who stepped down in 2017 after a near four-decade rule.
Joining CNBC Africa to unpack the latest markets news from Angola and Mozambique is Rui Oliveir the CEO at BFA Asset Management; he will also unpack the latest first of its kind webinar that will look at sustainable growth, development and investment in Angola.
LISBON (Reuters) - Portugal’s Sonae has moved to strengthen its position in local telecoms firm NOS by increasing its stake and ditching a partnership with Isabel dos Santos, the daughter...
Angola’s Central Bank will be announcing their MPC decision this afternoon with analysts suggesting that a rate cut is unlikely, as they haven’t done so this year despite the economy facing many challenges in the wake of COVID-19 and a steep decline in oil prices. Rui Oliveira, CEO at BFA Asset Management joins CNBC Africa for more.
Chinese debt relief given to emerging markets that are facing the pressure from the Covid-19 pandemic may pose some threats to countries that already have vast amounts of debt owing to facilities. Joining CNBC Africa to unpack debt relief implications for Angola and Mozambique and as well as the Angolan annual budget outlook is Rui Oliveira, CEO at BFA Asset Management.
LUANDA (Reuters) - When the Angolan government imposed its coronavirus lockdown in late March, local entrepreneur and innovator Claudio Kiala saw a gap in the market when it came to...