Imara African Cement Report Africa, the last cement frontier Angola ...

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Table of Contents Angola Country Map .......................................................................................................................... 2 Appendix to Abbreviations ................................................................................................................ 3 Executive Summary ........................................................................................................................... 4 Table 1: Timeline for major policy changes............................................................................................... 6 Macro-economic Overview ................................................................................................................ 7 Monetary Policy ................................................................................................................................ 8 Angola’s Diplomatic relations: A balancing act ‘Par excellence’ ......................................................... 11 Geopolitical review .......................................................................................................................... 11 China: The dragon digs in its claws ......................................................................................................... 11 EU 27 and Portugal Trade links with Europe dominated by Portugal ..................................................... 12 United States of America: Energy sector remains priority for US government ...................................... 13 India: Spicing up the Indo-Angolan relationship ..................................................................................... 14 South Africa: SA’s rainbow find’s a new end in Angola........................................................................... 14 Brazil: Leading the way ............................................................................................................................ 15 Political landscape – A foregone conclusion ...................................................................................... 17 SONANGOL: Angola’s de facto Sovereign Wealth Fund ..................................................................... 18 Overview of financial Results for FY2010 ................................................................................................ 19 Oil Majors in Angola´s Petroleum Sector – The scramble intensifies .................................................. 20 Chevron Corporation ............................................................................................................................... 20 BP PLC ...................................................................................................................................................... 21 Total SA’s operations in Angola ............................................................................................................... 21 ENI SpA’s operations in Angola ............................................................................................................... 21 Angola LNG; The next big money spinner ............................................................................................... 22 Sonangol Refinery - Still on the cards ..................................................................................................... 22 Banking Sector – Mandatory domestic banking for Oil Majors on the cards ....................................... 23 Banking Sector Charts (Including relative charts) ................................................................................... 24 The Stock and Derivatives Exchange of Angola ................................................................................. 27 Back on the drawing board post the financial market crash .................................................................. 27 Arguments for and against the development of a domestic capital market .......................................... 28 BVDA potential – Top down approach .................................................................................................... 28 Bottom up Approach ............................................................................................................................... 28 Telecommunications Sector: Lucrative and still rapidly expanding .................................................... 30 Unitel ....................................................................................................................................................... 30 Movicel .................................................................................................................................................... 31 Angola Telecom ....................................................................................................................................... 31 Telephonic listings of Angola (ELTA Angola) ........................................................................................... 32 Multitel .................................................................................................................................................... 32 Breweries and Beverages Sector – A thirsty lot ................................................................................. 33 The booming beverages sector opens up to new players ...................................................................... 33 Companhia União de Cervejas de Angola (CUCA):Living up to the nickname ‘Ferrari’ .......................... 33 SABMiller: Enter the big guns .................................................................................................................. 33 Unicer: Import substitution to improve group margins .......................................................................... 34 Refriango: Leaving the competition Blue with envy ............................................................................... 35 Hotels, Tourism and Construction .................................................................................................... 36 Sigma Group ............................................................................................................................................ 37 Mota Engil SGPS SA ................................................................................................................................. 37 Soares da Costa SGPS SA ......................................................................................................................... 37 Teixeira Duarte SA ................................................................................................................................... 38 Edifer ....................................................................................................................................................... 38 Somague .................................................................................................................................................. 39 Odebrecht ............................................................................................................................................... 39 1
Angola Country Map 11a 1 9a a 8 5 2 9 6 10 13 12 9c 9b 7 4 9d 9e 3 Major projects underway 1. Angola LNG – US$9bn LNG gas plant in Soyo 2. US$2bn pipeline of new hotels in Luanda 3. Ondjiva – new city emerging 4. Railway link connecting Huambo to Lobito Port and restoring link to Zambian Copper belt and DRC 5. New port at Barra do Dande 6. New international airport in Viana and new Industrial hub 7. New US$8bn oil refinery in Lobito 8. 11 new oil blocks licensed in January 2011 9. New Agricultural Hubs: Caxito, Uíge (9a), Wako Kungo (9b), Kwanza Sul (9c), Lubango (9d) and Huíla (9e) 10. New city: Kilamba Kiaxi opened to public on August 2011 (0.5m people capacity). Other new cities planned for Zaire, Malange, Kuando Kubango, Namibe, Huíla, Benguela and Lunda Sul. 11. Special Industrial Hub: Fútila (Cabinda), Soyo, Zaire, Catumbela, Benguela, Matalala. 12. New Steel Factory in Kwanza Sul (100k tpa) 2
Page 1: Angola Imara African Country Cement
Page 5 and 6: Executive Summary Comeback post 201
Page 7 and 8: Table 1: Timeline for major policy
Page 9 and 10: Table 3: 2011 Budget and Q1 income/
Page 11 and 12: Constraints to the growth story Ang
Page 13 and 14: US$ Millions US$ per barrel over 10
Page 15 and 16: Chevron also holds a 38.1% interest
Page 17 and 18: Italy Although Italy‟s oil intere
Page 19 and 20: SONANGOL: Angola’s de facto Sover
Page 21 and 22: Oil Majors in Angola´s Petroleum S
Page 23 and 24: In January 2011, Eni was awarded ri
Page 25 and 26: BAI BFA BESA BPC Banco BIC BESA Ban
Page 27 and 28: Table 9: Regional Banking Comparati
Page 29 and 30: Arguments for and against the devel
Page 31 and 32: Orascom Mobinil TNM Safaricom Econe
Page 33 and 34: Telephonic listings of Angola (ELTA
Page 35 and 36: Millions of Hectolitres NB Delta Cu
Page 37 and 38: Hotels, Tourism and Construction Ov
Page 39 and 40: • Kinaxixi Shopping Center and Of
Page 41: Capital Securities Botswana Ground

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