In the spotlight: Angola
Angola, which has recently emerged from civil war, is in the process of building its own identity. A systematic drive towards diversification of the economy away from the oil sector and the process of de-dollarization are pivotal parts of this process. How are banks, the government and locals coping as this transformation takes hold?
|Africa's Awards for Excellence 2018: Angola
Best bank: Société Générale Algérie
|ECR survey results Q2 2018: Global risk subsides but the US, South Africa and Asian EMs dive as anxiety returns
Global risk subsided in the first half of the year, according to Euromoney’s country risk survey, with confidence in Europe maintained and commodity producers benefiting from better terms of trade. Yet with US interest rates rising, and Brexit, Russia and protectionism risks prevailing, investor prospects have more recently become uncertain for the remainder of 2018.
|Euromoney special report: Southern Africa’s new leaders still have much to prove
The new presidents of Angola, South Africa and Zimbabwe could do better, but banks and investors will have plenty of due diligence to do when deciding whether or not and how to commit more resources to these countries.
|Country risk: Debt-ridden Angola turns a corner
The new president has made the start required to ensure investors take notice, with higher oil prices increasing liquidity, corruption addressed and business regulation improving.
|Sub-Saharan Eurobonds hold up under pressure
Following Mozambique's default, is it time to reassess which other African Eurobond issuers might follow suit – and what options are open to issuers – given deteriorating finances and rising global interest rates?
|Country Awards for Excellence 2017: Angola
|Country Awards for Excellence 2016: Angola
|Country risk: Angolan investors ignore risks
Investors snapped up Angola’s $1.5 billion Eurobond debut this month, and yet the sovereign borrower’s country-risk score has plunged, putting it among the world’s worst default risks.
|Eurobond option still on the cards for Angola
Armando Manuel, Angola’s finance minister, says that Angola will still issue a Eurobond despite recurring delays.
|Angola's de-dollarization drive
The country’s radical programme has put pressure on the banking sector, which in its short existence has relied heavily on the business brought in by foreign exchange. How can banks stay afloat with a lack of dollars in the system?
|Is Angola ready for PPPs?
The international community has lauded Angola for its quick-thinking and tough decision-making following the sharp fall in the oil price. In February, Angola cut AKz1.8 trillion ($14.3 billion) from its AKz7.2 trillion budget – months before Nigeria, the region’s largest economy and oil producer, made any changes to its own economic outlook.
|Angola goes after diversification
The fall in the oil price and the de-dollarization of the economy has done even more to highlight Angola’s over-dependence on oil. As a result, the diversification of the economy is higher-up on the government’s agenda than ever before.
|Angola’s de-dollarization dilemma
The drive away from the dollar and towards meaningful use of the kwanza could make Angola’s poor even more vulnerable.
|Angola: New exchange faces liquidity question
Chief executive admits concerns; equity trading planned for 2016.
|Country Awards for Excellence 2015: Africa
Best bank: Banco de Fomento Angola
|Africa bond: special focus
|Angola to test African Eurobond appetite
Angola could become the first African sovereign bond borrower since the great oil price crash this year in a debut deal that will set the tone for frontier-market debt.
|Angolan SWF chairman calls for greater support as oil price falls
The Angolan government could provide greater financial support to its fledgling $5 billion sovereign wealth fund (SWF), according to its chairman, amid rising concerns over the impact falling oil prices will have on the country's economy.
|Angola sets sights on capital-markets reform
The development of Angola's capital markets has been long promised but recent indications from the country's capital-markets commission suggests secondary public-debt trading could begin as early as next month. Nevertheless, it's unclear when the stock exchange will open its doors.
|Angola’s sovereign wealth fund sets sights on alternatives
Issues around transparency remain as Angola’s sovereign wealth fund gears up to invest.
|Angola: Standard Chartered opens Angolan subsidiary
First global bank with onshore presence; follows new oil payments legislation.