Ericsson and Angola’s Unitel ink three-year framework agreement for network expansion and evolution

ANGOLA – Mobile phone company Unitel S.A. and Swedish multinational networking and telecommunications company Ericsson have signed a three-year frame agreement for the supply of Ericsson Radio System solutions and core solutions related services. According to a statement released to the media, Ericsson will help Unitel transform its existing 2G/3G/4G Radio Access Network (RAN) and core infrastructure and prepare the service provider for future 5G services in Angola. Ericsson believes the Radio & 5G ready core expansions will enable Unitel to meet increasing data demands of customers in Angolan market.…

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AfDB lends Angola US$530m for hydropower transmission

ANGOLA – The African Development Bank (AfDB) has approved a US$530 million loan to Angola which will be used to build a transmission line to link the north and south of Angola, as well as to connect households to the national electricity grid. Of the funding allocated by the African Development Bank, US$480 million represents a loan from the pan-African financial institution while the other US$50 million of the funding comes from the Africa Growing Together Fund (AGTF), a US$2 billion fund established in 2014 by the AfDB and the…

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Total and Greentech partner Sonangol for the construction of the Quilemba Solar Power Station in Angola

ANGOLA – Sonangol Group, a parastatal that oversees petroleum and natural gas production in Angola, through its Business Unit Gas and Renewable Energy, has signed the Head of Terms agreement with Total Eren and Greentech for the construction of the Central Energy Photovoltaics “Quilemba Solar”.  The plant will be built in the Lubango region, to supply around 30 MW to the national electricity grid, thus reinforcing energy production in Angola.  This significant milestone, which precedes other stages for the development of the project, represents yet another step by Sonangol and…

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Angolan crowdfunding startup Deya closes US$50m pre-seed funding round

ANGOLA – Deya, a crowdfunding startup has secured its first round of pre-seed financing of more than US$50,000 to help it further develop its platform and start generating revenue. Founded in 2017, Deya is the first crowdfunding platform in Angola, or indeed any other Portuguese-speaking African country. The startup aims to boost access to finance for social impact causes, and so far, has helped such projects raise more than US$22,000. Later this year the platform will also start facilitating crowdfunding campaigns for entrepreneurial projects, and to this end has raised an undisclosed…

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Angola receives US$250m from World Bank to enhance electricity access

ANGOLA – The government of Angola has received US$250 million from the World Bank to improve the operational performance of the electricity sector utilities and increase electricity access in selected cities of Angola. The  Electricity Sector Improvement and Access Project will finance electrification investments in the provinces of Luanda, Benguela, Huila, and Huambo, delivering 196,500 new electricity connections that will benefit close to one million people and 93,857 public lights. The project will focus on electricity access expansion and improvement of revenue collection, electricity service improvement, capacity improvement of the…

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Minbos Resources raises funds to accelerate works in Cabinda phosphate project

ANGOLA – Australia Stock Exchange (ASX)-listed Minbos Resources is looking to raise US$5.7 million in a share placement to sophisticated investors to fully fund the definitive feasibility study and accelerate work at its Cabinda phosphate project, in Angola. The company has received firm commitments for the placement of 91.25 million shares, priced at  7 cent each, with subscribers being offered one free option for every two shares subscribed for. The option can be exercised at a price of 15 cent each and would have an expiry date of two years.…

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Afreximbank to invest US$1.3b in Angola on water supply project

ANGOLA – Afreximbank president Benedict Oramah, has announced that the bank will invest US$1.3 billion to support development initiatives including a project to supply drinking water to Luanda from Bita. The funds will be invested in priority projects for the country, notably the Lobito rail corridor project, which will require an investment of US$3 billion and the drinking water supply project for the capital Luanda, the cost of which is estimated at US$900 million. The project is a mega drinking water initiative, and also one of the most important on…

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Gemcorp Capital and Endiama sign joint venture to develop Mulepe diamond deposit in Angola

ANGOLA – Emerging markets trade and investment group Gemcorp Capital LLP and Endiama Mining, a subsidiary of Angola’s State-owned diamond company Endiama, have entered into a joint venture (JV) agreement to develop the Mulepe diamond deposit in Lunda Norte, Angola. The Mulepe site, which contains significant kimberlite and alluvial deposits, represents a key strategic project that aims to provide important employment opportunities and unlock value in a remote region of the country. To ensure rapid development of the project, a pilot mining programme will be set up in the course…

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Africell wins mobile telecommunication operator licence in Angola

ANGOLA – Africell Holding. Africa-focused mobile network operator, has secured a mobile telecommunications operator’s licence in Angola, joining three other operators Movicel, Unitel and Angola Telecom which are already serving the country. Africell is a holding company of telecommunications operations with its headquarters in London, United Kingdom with operations in Uganda, Democratic Republic of Congo, The Gambia, and Sierra Leone. In 2018, the company secured a US$100 million loan from the U.S. Development Finance Corporation to fund an expansion strategy that included growing mobile payments and micro-finance offerings, alongside upgrading its 2G,…

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Hitachi ABB Power Grids joins consortium to connect Angola to PV project

ANGOLA – Hitachi ABB Power Grids has joined forces with Sun Africa LLC and M. Couto Alves S.A., part of the EPC conglomerate to supply the main electrical infrastructure for one of the largest photovoltaic projects ever developed by MCA Group and Sun Africa consortium in Angola. Hitachi ABB Power Grids’ scope of work will include the design, main power equipment supplies, testing and commissioning of the project. The project is based on an in-depth grid impact study into the customer’s unique requirements to determine in advance the best way…

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