Offshore Deal: QatarEnergy, with Shell and Sonangol E&P, signed with ANPG to take 30% in Angola Blocks 8 and 22 (Shell 50%, Sonangol 20%), adding to Luanda’s push to pull in new upstream capital. Downstream & Logistics: Angola’s Barra do Dande Ocean Terminal (TOBD) is positioned as a key fuel-security and regional logistics asset, with initial storage of about 582,000 m³ and growing interest from Qatar as energy ties deepen. Oil Investment Momentum: TotalEnergies says its Acacia-5 discovery in Block 17 is now producing, while it also plans further Angola exploration and a broader $10bn investment push with partners. Telecom Finance: The US EXIM approved a $99.6m loan to Africell to buy American and allied network equipment for Angola (and beyond), part of Washington’s push to reduce reliance on Huawei. Competition Watch: Angola’s competition authority fined the customs clearing body CDOA 7.245m kwanzas for minimum fee pricing that restricted competition, ordering the table’s immediate revocation. Energy Infrastructure: UK Export Finance backed £655m for four Angola infrastructure projects, including transport and power, as borrowing costs surge at home. Business Spotlight: Luanda hosted LeBron James and Will Smith, with meetings touching tourism and Angola’s sports and business ecosystem.
AGP Executive Report
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US-Angola Telecom Push: The U.S. Export-Import Bank approved a $99.6m loan to Africell to upgrade Angola’s mobile network using American and allied equipment, part of Washington’s drive to reduce reliance on Huawei. Banking & Markets: Standard Bank Angola reported strong performance, citing 49% average growth and rising returns on equity, as it prepares for the Standard Bank Angola share sale process. Oil & Gas Deals: TotalEnergies says its Acacia-5 discovery in Block 17 is now producing, and it plans $10bn in Angola projects over five years; Shell, QatarEnergy and Sonangol E&P also signed to take stakes in offshore blocks 8 and 22. Power & Infrastructure: Angola plans to expand electricity access in Benguela as coverage sits around 37%, while the Quilonga Grande water project in Icolo e Bengo is nearing completion for 5m beneficiaries. Trade & Logistics: The Lobito Corridor push aims to double cargo volumes, with rail partners targeting higher throughput despite bottlenecks in DRC. Business & Society: LeBron James met Angola’s business leaders and the President during his first visit to Africa, spotlighting tourism and investment ties.
Oil & Gas Investment Push: TotalEnergies says its Acacia-5 discovery in Angola’s Block 17 is already on stream via a fast-track tieback, expected to add about 6,000 bpd, while the company also signed with ANPG to take 40% operated stakes in Blocks 17/25 and 32/21 (with ExxonMobil 40% and Sonangol E&P 20%), as it targets $10bn in Angola projects over five years. Offshore Deals: Shell, QatarEnergy and Sonangol E&P have agreed with ANPG to acquire stakes in Angola’s offshore Blocks 8 and 22 (Shell 50% operating, QatarEnergy 30%, Sonangol 20%), extending the Kwanza basin exploration momentum. Banking & Capital Markets: Angola’s Standard Bank Angola OPV is underway as the state sells 34% of its SBA stake under PROPRIV, with 24% earmarked for Standard Bank Group and 10% for public subscription, while the bank reports strong performance and profitability improvements. Infrastructure & Services: The Quilonga Grande water project in Icolo e Bengo is nearing completion (over 90% physical execution, planned for November) to serve 5 million people, and Benguela plans to expand electricity access to interior municipalities to boost the Lobito Corridor’s development. Energy Security & Trade Links: Lobito Atlântic Railway says it aims to double cargo volumes beyond last year’s 200,000 tonnes, citing ongoing works in the DRC to cut transit constraints. Exploration Finance: Sintana Energy has struck definitive terms for a 5% indirect interest in KON-16 in Angola’s Kwanza basin, with approvals pending and a 2027 exploration campaign in view. Cyber & Risk Watch: Check Point reports Angola among the most targeted African markets for cyberattacks, with Energy & Utilities the top target sector.
Water Infrastructure: Angola’s biggest water project, Quilonga Grande in Icolo e Bengo, is now over 90% complete and is set to finish in November, aiming to serve 5 million people across Luanda and Icolo e Bengo. Industrial Resilience: Benguela’s Nova Fumetal has restored output from 500 to 5,000 pieces per day after the Cavaco River flood, supported by Kz 300 million in government financing. Power & the Lobito Corridor: Benguela plans to raise electricity coverage from about 37% by expanding the 220kV grid, with officials linking electrification to faster economic transformation along the Lobito Corridor. Trade & Investment Diplomacy: President João Lourenço discussed deeper economic cooperation with the UAE, while Angola’s parliament chief highlighted new fiscal incentives to attract oil-sector investment during a China visit. Banking & Capital Markets: The state launched the sale of 34% of Standard Bank Angola via an OPV under PROPRIV, with 24% offered to Standard Bank Group and 10% for public subscription. Offshore Oil Push: Shell, QatarEnergy and Sonangol E&P agreed to take stakes in Angola offshore Blocks 8 and 22, while TotalEnergies flagged new Block 17 success and a $10bn investment plan. Security & Ports: Japan delivered a fire-fighting boat to the Port of Namibe to strengthen maritime emergency response. Logistics: Lobito Railway operator says it is working to double cargo volumes beyond last year’s 200,000+ tonnes, targeting faster cross-border flows.
Offshore Oil Push: Shell, QatarEnergy and Sonangol E&P have teamed up to secure stakes in Angola’s offshore Blocks 8 and 22, with Shell holding 50% operating interest (QatarEnergy 30%, Sonangol 20%), as majors intensify exploration momentum. Big Capex Signal: TotalEnergies says it and partners will invest $10bn in Angola over five years, after announcing the Acacia-5 discovery on Block 17, targeting first output about three months after the June find and adding ~6,000 bpd. Telecom Competition: The U.S. Exim Bank approved a $99.6m loan to Africell to expand American/European telecom equipment in Angola, aiming to counter Huawei’s dominance. Privatisation Watch: Angola’s state is selling 34% of Standard Bank Angola via an OPV under PROPRIV, with 24% earmarked for Standard Bank Group and 10% for public subscription. Security & Trade Links: Lobito Atlantic Railway expects to nearly double international cargo to ~800,000 tons in 2027 after a $300m drawdown, reinforcing the critical-minerals corridor. Port Safety: Japan-backed equipment upgrades fire-response capacity at Namibe port operations. Cyber Risk: Angola recorded 5,416 weekly cyberattacks per organisation in August, up 47% year-on-year, with energy and utilities the most targeted sector.
Standard Bank Privatization: Angola’s state asset manager IGAPE launched an OPV to sell 34% of Standard Bank Angola, with 24% reserved for Standard Bank Group and 10% for public subscription, as part of PROPRIV to shrink the state’s direct economic role. Oil & Gas Exploration: TotalEnergies announced the Acacia-5 discovery on Block 17, aiming to add 6,000 bpd by fast-tracking development using spare capacity on the Pazflor FPSO, while also signing Heads of Terms for new exploration blocks. Downstream Push: Angola’s government reiterated that building refining capacity is key to reaching self-sufficiency in petroleum products and reducing dependence on third markets. Angola–China Politics: China’s top legislative officials met Angola’s National Assembly leadership in Beijing, stressing cooperation in clean energy, digital tech and AI. Telecom Financing: The US Exim Bank is set to lend about $99.6m to Africell to deploy American and allied mobile network equipment in Angola, framed as a move to counter Huawei. Maritime & Trade: Lobito Atlantic Railway expects to nearly double international cargo volumes next year after drawing down from a $753m US-backed financing package, boosting critical-minerals flows. Security Tech: Check Point flagged rising cyber attacks in Angola’s energy and utilities sectors, warning of growing ransomware, phishing and GenAI-related exposure. Defense Procurement: EDGE delivered six HT-100 NAVAL unmanned helicopters to Angola’s navy after successful trials, supporting enhanced maritime surveillance. Local Commerce: Angolan vendors in Rundu are calling for a designated market to reduce informal trading congestion and operate legally.
Angola Oil & Gas momentum: Angola’s 7th AOG 2026 in Luanda wrapped with fresh upstream dealmaking and a push for downstream capacity, as officials said the country has put about $99bn into the oil sector over nine years and is negotiating new concessions. QatarEnergy offshore push: QatarEnergy signed Heads of Terms with ANPG for Blocks 8 and 22 in the Kwanza Basin, with Shell as operator and Sonangol E&P holding the remaining stake—setting the framework for exploration through production. Shell and QatarEnergy align on Angola blocks: Shell, QatarEnergy and Sonangol also signed Heads of Terms for the same offshore areas, reinforcing investor interest around Angola’s mature basins. TotalEnergies ups Angola bets: TotalEnergies announced the Acacia-5 discovery in Block 17 (expected +6,000 bpd) and plans fast-track development, while also entering new exploration blocks with ANPG and flagging $10bn investment over five years. ExxonMobil discovery in Block 15: ExxonMobil and ANPG marked the 20th discovery in Block 15, highlighting continued value from Angola’s deepwater infrastructure and updated incentives. Defense procurement: EDGE delivered six HT-100 NAVAL unmanned helicopters to the Angolan navy after successful trials, boosting maritime surveillance alongside BR71 MK II corvettes. Finance inclusion: Angola’s central bank backed coordinated efforts to raise women’s financial inclusion, noting women’s lower credit access and calling for better tailored products and data-driven monitoring. Safety and tech in mobility: Yango reported a 38% drop in reckless driving incidents across African markets, including Angola, attributing gains to driver checks, speed controls and in-app safety tools.
Offshore Oil Push: ANPG and majors are moving Angola’s exploration agenda forward at the Angola Oil & Gas conference, with Heads of Terms signed for Blocks 8 and 22 (QatarEnergy, Shell and Sonangol E&P) and Shell set as operator on 50% interest. New Discoveries & Fast-Track Output: ExxonMobil and ANPG announced a new discovery in Block 15, Angola’s deepwater workhorse (over 2.7bn barrels produced to date), while TotalEnergies flagged the Acacia-5 find on Block 17, targeting first oil within three months and adding 6,000 bpd, plus plans for $10bn investment with partners over five years. More Block Awards: TotalEnergies also signed with ANPG to take a 40% operated interest in Blocks 17/25 and 32/21 in the Lower Congo Basin. Defense Procurement: EDGE Group delivered six HT-100 NAVAL unmanned helicopters to the Angolan navy after successful trials, supporting maritime surveillance alongside BR71 MK II corvettes. Finance & Inclusion: BNA backed coordinated action to boost women’s financial inclusion, citing 54% adult inclusion and women’s lower credit access. Cyber Risk: Check Point reported Angola among the most attacked African countries by organisations, with attacks per organisation up sharply year-on-year. Air Connectivity: TAAG and TAP opened commercial talks in Lisbon to deepen Luanda–Lisbon links.
Offshore Oil Push: TotalEnergies says it will invest $10bn with partners in Angola over the next five years, aiming to sustain output and develop the $6bn Kaminho project (first oil targeted for 2028), while also signing new exploration licences for offshore Blocks 17 and 32 with ExxonMobil and launching an AI geoscience initiative. New Discovery in Block 15: ExxonMobil and ANPG confirmed the Vicango Este-01 find in Block 15, the 20th discovery for the block, reporting 25m of hydrocarbon-bearing sandstone and highlighting potential tie-backs to existing infrastructure. Investment Climate & Finance: Angola’s reforms and fiscal consolidation were highlighted in London as the country seeks more private capital, advances the PROPRIV privatisation programme and pushes development of the local capital market. Local Bond Market Opener: Angola is discussing possible inclusion in a JPMorgan frontier-market local-currency debt index to broaden foreign access to its domestic government bond market. Education Upshift: Angola plans to promote about 22,000 teachers this year and make 290,000 higher-education places available for 2026/27, alongside 4,800 nursing specialisation slots to decentralise training.
Oil & Gas Update: ExxonMobil’s Vicango Este-01 well in Angola’s Block 15 hit about 25 metres of high-quality, hydrocarbon-bearing sandstone, marking the 20th discovery for the block that has already produced over 2.7 billion barrels, with potential tie-back to existing infrastructure if commercial viability is confirmed. Angola–UK Trade Finance: UK Export Finance backed £655m for four Angola infrastructure projects, expected to unlock £167m in contracts for British suppliers covering airports, roads and power transmission, including Cabinda Airport and Huambo–Benguela high-voltage links. Energy Investment Outlook: ANPG says Angola is targeting over USD 70bn in oil exploration, gas and energy infrastructure over the next five years, while TotalEnergies signals new Angola exploration plans by leveraging existing assets and pushing refinery investment to cut fuel import dependence. Regional Refining Push: Botswana President Duma Boko visited the Lobito Refinery site (200,000 bpd planned), with Angola officials framing it as a regional energy hub and noting execution at about 26% and Sonangol investment of $1.6bn so far. Fiscal & Markets: Angola’s Finance Minister highlighted fiscal consolidation, medium-term debt management and capital market steps in London, including work with BODIVA and the local capital market regulator to prepare future operations. Banking & Debt Markets: JPMorgan is reportedly in talks with Angola on inclusion in a new frontier-market local-currency debt index, potentially widening foreign access to Angola’s domestic bonds.
Angola–Botswana Deal Push: Angola and Botswana signed three new cooperation instruments in Luanda covering defence, livestock, and a binational commission, with leaders also pointing to expanded ties in energy, oil, tourism, and diamond industry. Trade & Payments: The economic forum highlighted plans to reduce friction through SADC payment integration (kwanza) and future pula inclusion to cut costs and speed transactions. Infrastructure Finance: UK Export Finance backed £655m for four Angola infrastructure projects, including Cabinda International Airport, roads and electricity transmission, expected to unlock £167m in UK supply contracts. Education for Growth: Angola’s push for cross-cutting literacy and teacher professionalisation was underlined as a route to stronger human capital and wider economic inclusion. Transport Budgeting: Angola’s Transport Ministry gathered sector input for the 2027 national budget, with priorities including rail expansion, BRT, logistics platforms and port/airport infrastructure.
Angola–Botswana Diplomacy: President João Lourenço met Botswana’s Duma Gideon Boko in Luanda as both sides signed three new cooperation instruments covering defence, a binational commission, and livestock/pastoral collaboration, with plans to broaden ties into energy, oil, tourism and diamond industry. Infrastructure Finance: UK Export Finance backed £655m for four Angola infrastructure projects, including a new international airport, with £167m in supply contracts expected to flow to UK firms. Transport Budgeting: Angola’s Transport Ministry held consultations to feed into the 2027 State Budget, flagging priorities like rail expansion, surface metro, BRT, logistics platforms, and port/airport infrastructure. Human Capital & Jobs: Angola is pushing adult literacy as a cross-cutting policy, citing 502,705 learners in 2025/26 (over half women) and linking literacy to employability and entrepreneurship. Air Quality Pressure: A UN-backed Africa brief says more than 20 African countries missed WHO air pollution limits in 2025, raising public health and policy urgency.
Angola–Botswana Business Push: Luanda hosts an Angola–Botswana Economic Forum as President Duma Boko begins a three-day official visit, aiming to deepen trade, investment and private-sector partnerships across sectors like mining, agriculture, energy, tourism and transport. Standard Bank Privatisation Drive: Angola plans to raise up to 208.5 billion kwanza from selling a 34% stake in Standard Bank Angola held by jailed former tycoon Carlos São Vicente, with part of the stake offered to the public via BODIVA later this month. Capital Markets Watch: BODIVA trading shows a sharp drop in secondary-market activity and deal size over late August into early September, with Unitel losing dominance while other counters gain weight. UK Investor Outreach: Angola’s Finance Minister Vera Daves leads a delegation to a London business and investment forum, highlighting privatisation, debt strategy and capital markets reforms, including a London Stock Exchange opening ceremony. Air Connectivity & Tourism: TAAG runs a cultural and tourism Famtrip/Presstour linking São Paulo–Luanda–Abidjan to strengthen South America–West Africa connectivity and promote Angola as a regional hub. Health & Industry: Portuguese pharma group FHC moves into sterile injectables after acquiring Activo Health, signalling tougher competition for established parenterals players in Africa.
Standard Bank Share Sale: Angola’s Capital Market Commission has approved the public sale of a 34% stake in Standard Bank de Angola, clearing the way for trading on BODIVA from Sept. 30; the offer runs Sept. 11-25 and is expected to raise up to 208.5 billion kwanza (about $228m), with Standard Bank reserving 24% and the rest for the public. Stock Market Liquidity: BODIVA saw a sharp drop in traded volume and value over Aug. 31-Sep. 4, with the average deal size shrinking and trading becoming more concentrated as Unitel’s weight fell and Banco BAI gained. Banking Deal Watch: Banco BPI agreed to sell its 33.35% stake in Banco de Fomento Angola (BFA) to Congolian Financial for about $452m, a move that could end a long European exit attempt. Entrepreneurship Funding: Orange Corners Innovation Fund will invest €3.3m by 2030 to back Angolan youth entrepreneurship, with projects focused on agriculture and climate resilience. Business Leadership: Champion Breweries confirmed Malolan Sampath’s formal start as MD/CEO on Sept. 1, after prior experience including roles in Angola. Regional Diplomacy: Botswana President Duma Boko begins a three-day official visit to Angola, aiming to deepen cooperation in trade, investment and sectors like energy, mining and tourism.
Capital Markets Push: Angola’s Capital Market Commission approved the public sale of a 34% stake in Standard Bank de Angola, clearing the way for the lender’s BODIVA debut and the state’s disposal of shares seized from Carlos Sao Vicente; the offer runs Sept 11–25, with trading expected from Sept 30 and a price range of 41,220–50,000 kwanza per share. Banking Deal: Banco BPI agreed to sell its full 33.35% holding in Banco de Fomento Angola (BFA) to Congolian Financial for €388.5m (about $452m), marking a major exit from Angola’s banking sector. Water & Agriculture: President João Lourenço inaugurated the Ndúe and Calucuve water projects in Cunene, part of the PCESSA drought programme, with Ndúe set to benefit about 55,000 people and 60,000 cattle and Calucuve targeting large livestock numbers. Entrepreneurship Funding: Orange Corners Innovation Fund will invest €3.3m by 2030 to finance and train young Angolan entrepreneurs, with 2.2m from the Netherlands and 1.1m raised locally. Business Leadership: Champion Breweries confirmed Malolan Sampath has formally assumed office as MD/CEO from Sept 1, 2026. Food Safety Alert: Foods Alive in Angola, Indiana recalled nationwide 8-ounce organic moringa powder pouches after potential Salmonella contamination flagged via supplier testing. Regional Diplomacy: Angola and Botswana agreed to move from a long-missing bilateral commission to a binational commission involving heads of state, with a first meeting planned for 2027.
Capital Markets: Angola’s Capital Market Commission has approved the sale of a 34% stake in Standard Bank de Angola, clearing the way for the lender’s BODIVA debut and the state’s disposal of shares seized from Carlos Sao Vicente; the offer of 4.76 million shares runs Sept 11-25, with trading expected from Sept 30 and a price band of 41,220-50,000 kwanza per share. Banking & Deals: The structure reserves 24% for Standard Bank Group (which already holds 51% and can raise to 75%), while 10% is set for public investors and the Angolan state is expected to retain 15%. Water & Agriculture: In Cunene, President João Lourenço inaugurated the Ndúe and Calucuve dams under the drought-fighting PCESSA programme, with officials saying improved water access should boost irrigated farming, livestock and reduce land conflicts. Entrepreneurship: Orange Corners Innovation Fund will invest €3.3m in Angola’s entrepreneurship ecosystem through 2030, targeting youth projects in agriculture and climate resilience. Business Leadership: Champion Breweries appointed Malolan Sampath as Managing Director/CEO, effective Sept 1, as the brewer enters a growth and transformation phase.
Capital Markets: Angola’s Capital Market Commission has approved the sale of 4.76 million Standard Bank de Angola shares (34% stake), with the offer running Sept. 11-25 and BODIVA trading expected from Sept. 30; pricing is set at 41,220-50,000 kwanza per share, valuing the package at about $215m-$261m, with Standard Bank Group able to raise its holding to 75% if it takes the full allocation. Energy & Infrastructure: In Cunene’s Cuvelai, President João Lourenço presided over the start-up of the Ndúe and Calucuve water dams under the drought-fighting PCESSA programme, with officials linking the new water availability to stronger irrigated agriculture, livestock support and reduced land conflicts. Trade & Diplomacy: Angola and Macau signed a mutual visa waiver deal allowing visa-free entry for up to 30 days after a 90-day implementation period, aimed at easing business travel. Business Diplomacy: Angola’s ambassador in India urged Indian investors to view Angola as a strategic gateway, as a new Angola-India Business Council prepares a November delegation. Regional Security Finance: Nigeria pushed the AU in Luanda to rely more on innovative, sustainable financing for conflict prevention, warning against overdependence on external funding. Sports: Primeiro de Agosto took a big step toward CAF Confederation Cup group qualification with a 2-0 first-leg win over Eswatini’s Green Mamba, ahead of the return in Luanda.
Water Security & Rural Development: Angola’s Cunene province marked a key step in the fight against drought as President João Lourenço inaugurated the Ndúe and Calucuve dams in Cuvelai, with the RDC’s Félix Tshisekedi attending; officials say the projects will boost water access for communities, livestock and irrigation, helping shift the region from seasonal subsistence to more permanent commercial farming. Conflict Reduction: Lourenço linked higher water availability to fewer land conflicts between herders and local residents, arguing scarcity is a main driver of tensions. Business & Investment Diplomacy: Luanda hosted the Angola–Norway 2026 workshop (Nov. 11–14) aimed at expanding economic diversification, business deals and technology transfer beyond oil into areas like agriculture and industry. Capital Markets: Angola’s Capital Market Commission approved the sale of a 34% stake in Standard Bank de Angola, clearing the way for a Luanda stock market debut and putting seized shares from Carlos Sao Vicente back into trading. Road Safety Pressure: Angola reported a sharp rise in national road accidents, with August figures showing hundreds of crashes and high fatalities, including incidents involving private bus operators.
AU Peace Funding: Nigeria urged the African Union to cut reliance on foreign financing for conflict prevention and resolution, citing progress on the AU Peace Fund’s capitalisation and rising balances. Angola-Macau Mobility: Angola and Macau signed a mutual visa exemption deal, allowing visa-free entry for up to 30 days after a 90-day implementation period. Angola External Accounts: Angola’s current account posted a $2.08bn surplus in Q2, up 40.1% quarter-on-quarter, while international investment position deficits widened and reserves stood at $14.94bn (6.7 months of imports). Luanda Stock Market: BODIVA ended with a mild 0.36% correction, led by Unitel and BFA, with trading concentrated in a small set of large names. Credit Growth: Angola’s credit to the non-financial sector rose 12.8% year-on-year, with private sector borrowing driving most of the increase. Energy & Business Links: Angola and Argentina mapped new cooperation areas, including trade, agriculture, transport and regulatory alignment. Corporate Leadership: Aker Solutions appointed Paal Eikeseth as CEO with immediate effect. Oil Financing (Region): ReconAfrica plans a N$174m bought-deal raise to fund Namibia drilling and testing.
AU Peace Agenda: Angola hosted the 21st Extraordinary AU Session in Luanda on “Strengthening conflict prevention and resolution in Africa,” with Cameroon’s envoy Dion Ngute pushing dialogue, early warning and sustainable funding for African-led peace operations, alongside adoption of the Luanda Action Plan. Angolan Credit Growth: Angola’s gross credit to the non-financial sector rose 12.8% year-on-year to 9.2 billion kwanzas in July, with private-sector borrowing driving most of the increase. Water Security in the South: Angola’s Cunene province is set for a new chapter as President João Lourenço inaugurates the Ndúe and Calucuve dams, aimed at easing drought impacts and supporting socio-economic development. Oil & Gas Dealmaking: Chariot Resources shares jumped after a framework agreement with Etu Energias and BW Energy to expand its economic exposure in Angola’s Chevron-operated Block 14 and Block 14K, with Etu positioned to take over operations. Angola Business Links: Angola joined the African Franchising Association, opening doors for cross-border brand expansion and capacity building under AfCFTA.
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