OPEC member Angola looks beyond oil, diversifies into gold to expand economy
Africa’s second-biggest oil exporter, Angola, is set to expand its commodity mix into gold, Diamantino Azevedo, the country’s oil and mineral resources minister told Reuters on Tuesday. The minister who does not expect OPEC to impose deeper cuts to its member states this year, said Angola hopes to start producing small quantities of the precious metal next […]
Angola seeks to rescue economy, joins other oil nations to drop dollar peg
Angola is poised to become the latest emerging nation to abandon its currency peg as it seeks to rescue an economy still reeling from the oil-price crash four years ago. The southern African nation, an OPEC member, said this week, according to report by Bloomberg, it would let the kwanza trade within a new band. […]
Angola votes for first new leader in 38 years amid economic crisis
Angolans headed to the polls Wednesday in a parliamentary election expected to usher in the ruling party’s defence minister as the first new leader of Africa’s second biggest oil producer for 38 years. Joao Lourenco, who has pledged to boost growth and fight corruption, would inherit an economy mired in recession, according to Reuters’report, as […]