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Angola to change foreign investment policies to woo investors

President João Lourenço is looking to revise policies that inhibit diamond production capacity and revenue generation. Better days could be on the way for Angola, the world’s fifth largest producer of diamonds, as government seeks to improve its investment relationship with foreign investors. Angola’s potential as a diamond producer is still largely untapped, in part […]

Developments in Competition Law in Africa

African States are increasingly implementing and enforcing competition laws both on a national and a regional basis. This has important implications for foreign and local businesses operating in Africa. At LEX Africa’s June seminar on developments in competition law in Africa, speakers discussed the increasing trend of governments to try and use competition law as […]

Limits for local and foreign currency in Angola

The Regulation 1/2016 of the Angolan central bank (“BNA”) entered into force last 12th April,  in view of regulating the conditions for entrance and exit of local and foreign currency in Angola either by residents or non-residents. In relation to entrance and exit of foreign currency, residents are allowed to carry with them an amount […]

New Competition Law in Angola

Law no. 5/18, of 10th of May – Competition Law. On the 10th of May of this year, the first Competition Law was approved in Angola. The said Law applies to (i) the economic activities carried out in Angola, whether on a permanent or occasional basis and (i) to the public companies, private companies, cooperative […]

Angola: Sanctions for irregular taxpayers

The Angolan Tax Administration now has the right to publish a list of irregular taxpayers on a quarterly basis, in accordance with an Executive Decree which has been published in the official gazette dated the 1st of March and which came into force on the same date. Taxpayers with an irregular situation will be prevented […]

Whisperings on African business developments & opportunities – February 2015

Africa Update

It is likely that there will be particular interest in the COTE D’IVOIRE ELECTIONS due to be held in October 2015. The mainly southern opposition party, Front Populaire Ivoirien (FDI) (of former prime minister Pascal N’Guessan) is calling for the release of some of its leaders from prison and the elimination of sanctions on the […]

Whisperings on African business developments & opportunities – January 2015

Africa Update

The sudden fall in the OIL PRICE is likely to have an effect on the ANGOLAN ECONOMY. Angola retains an oil price-based “windfall” budget that is used for special projects such as agricultural programmes.  These projects are now likely to be curtailed.  Much of Angola’s oil is deepwater and the costs of extraction thereof are […]

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