The Angolan government is considering contracting a $910 million syndicated loan to finance a drinking water supply project, Novo Jornal reported.
According to the media, the new borrowing program will target a group of international banks led by Hong Kong's Standard Chartered Bank. It aims to improve the supply of drinking water in the capital Luanda. Specifically, the new funds will be used to finance a 6km long pipeline that will be capable of supplying Luanda with water from the Kwanza River at a rate of 3 cubic meters per second.
This operation is part of the government's public investment strategy provided for in the national development plan for 2018-2022. To make up for the lack of financial resources, President Joao Lourenço (pictured) has in recent years multiplied borrowing operations on the international market.
BNP Paribas and Crédit Agricole Corporate and Investment Bank are also expected to participate in the operation. The new project’s completion will increase the percentage of Luanda's population with access to running water, currently estimated at only 44% of the country's total population.
Moutiou Adjibi Nourou
• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0....
• Qatar Airways and Kenya Airways establish strategic agreement, introducing a third daily flight be...
• Interbank volumes rose 18.7% in May, while rates declined across the market• The BCEAO cut its mai...
• EY is preparing to leave Francophone Sub-Saharan Africa by 2026• The exit could unlock $500 m...
As cybersecurity asserts itself as a pillar of digital sovereignty in West Africa, technology-free z...
Nigeria’s government launched a partnership to integrate digital literacy into rural primary and secondary schools. The initiative aims to tackle...
• Rwanda cut multidimensional child poverty nearly in half among 5–14-year-olds—from 25.3% to 11.9% between 2016 and 2024.• Free basic education and...
South32 plans to revise its 2026 production forecast for the Mozal aluminium smelter due to unresolved energy supply negotiations. The current...
The world’s renewable energy capacity grew by 582 GW in 2024 but still falls short of the 2030 tripling target. Africa’s renewable capacity...
Malawi’s Mount Mulanje and Cameroon’s Diy-Gid-Biy added to UNESCO World Heritage List Africa still holds 25% of endangered sites, despite recent...
Kolmanskop offers a haunting blend of lost wealth, colonial history, and the unstoppable force of nature. Located just a few kilometers inland from...