Angola

Angola set to award contracts for geological survey

9 Feb 2012

CAPE TOWN (Reuters) - Angola, one of Africa's potential mining giants, is expected within a month to award contracts for a long-awaited comprehensive geological survey of the country, which will map its resources in a move to boost mining investment. Geology, Mines and Industry Minister Joaquim Duarte da Costa David - a former boss of state oil firm Sonangol appointed to boost revenue from ...

IMF extends Angola loan programme to end March

9 Feb 2012

WASHINGTON (Reuters) - The International Monetary Fund on Wednesday extended Angola's loan program by a few weeks to March 30, 2012, to give it time to sign off on a final review of the country's $1.4 billion standby arrangement. The program, approved in November 2009, was scheduled to expire on February 22. The IMF board is set to consider the performance review in late March, which would free ...

Oil Corruption May Threaten Angola, Nigeria, Stifling Growth, Agency Says

7 Feb 2012

While increased oil output has generated billions of dollars for Angola and Nigeria, the misappropriation of public funds by corrupt officials remains one of the main causes of poverty in those countries, the London-based organization said today in an e-mailed report.