Falling oil prices have led to Angola, Africa’s biggest crude producer, facing economical difficulty resulting in the country seeking international financial support.

Angola Calls on China for Loans

The state company Angola Polishing Diamonds exported 4,462 carats of cut diamonds to the United Arab Emirates last June, costing around $3.1 million and an average price of $694.5 per carat, according to the Ministry of Geology and Mines in Luanda.

Angola exports $3.1 million worth of diamonds to UAE

Ghana’s proposed Eurobond sale, which would have been its fifth in nine years, has been put on hold amid rising costs and political uncertainty.

Ghana Postpones Eurobond Sale

Three European lenders, Norfund, Dutch bank Rabobank and private sector development bank FMO, have joined together to form a $660m investment company providing new capital for investment in banks with retail and SME clients in Eastern and southern Africa.

European Lenders Join Together to Form Africa Investment Company

Gemcorp Capital LLP is negotiating a deal with Angola to provide Africa’s biggest oil producer with a $500 million loan, claims a source close to the matter, despite the IMF saying the country had called off talks of financial support.

Gemcorp Negotiating $500m Loan to Angola

When Isabel Dos Santos was officially appointed as CEO of Sonangol by her father, Angolan president Jose Eduardo dos Santos, on June 3rd the president took the opportunity to shake up the company; eight of the 11 directors were shown the door.

Isabel dos Santos Installs her Team at Sonangol