page contents
Connect with us

Motherland News

Angola set to better it’s economy by privatizing 74 state companies.

Published

on

Angola plans to privatize 74 state companies over the next few years, predominantly those in the industrial sector, according to the prospectus sent to investors as part of the country’s Eurobond issuance.

Africa’s second-largest crude producer has been battered by a fall in the price of oil over the past four years and President João Lourenço, who took office in September, has pledged to reduce state interference in the economy, which remains centrally controlled after years of civil war and Soviet influenced state building following independence from Portugal in 1975.

FOLLOW US ON:
 INSTAGRAMLINKEDINYOUTUBETWITTER & FACEBOOK

“Generally, the government intends to sell its entire interest in these companies, the majority of which operate in the industrial sector,” the prospectus, a copy of which was seen by Reuters, said.

The prospectus does not list the companies or say how much the privatisations could raise, but a government source told Reuters that Angola’s ports, national carrier TAAG, BCI bank, and insurer Ensa were all being considered for full or partial privatisation.

“The government’s long-term policy is that companies which, in the government’s view, are not required to remain under public ownership as a matter of policy should eventually be privatised,” the prospectus added.

Lourenço aims to revive growth by opening the economy to foreign investors and diversifying away from oil, which currently accounts for 95 percent of exports.

Angola is in the process of raising $3 billion through two Eurobond issues, launching $1.75 billion in 10-year notes at 8.25 percent and a $1.25 billion 30-year tranche at 9.375 percent.

In the prospectus, Angola also said it saw its total debt – excluding that held by state oil firm Sonangol – reaching $77.3 billion, or 70.8 percent of GDP, by the end of 2018.

TO DOWNLOAD OUR MOBILE TV APP CLICK HERE
WATCH FREE MOBILE TV CHANNELS HERE

Source:”Reuters”

 

Crime

Sex in car in Nigeria public places not a crime – NPF

Published

on

The Nigeria Police has stated that having sex in a car in public places is not a crime.




The force through ACP Abayomi Shogunle who is in charge of Nigeria Police Public Complaint Response Unit (PPCRU) stated this on his official Twitter page.

According to Abayomi Shogunle, having sex in a car in a public place is not a crime.

He, however, stated conditions where the parties can be arrested for having sex in public place.

FOLLOW US ON:
 INSTAGRAMLINKEDINYOUTUBETWITTER & FACEBOOK

He wrote: “NO. Sex in a car in a public place is not a crime in Nigeria provided; 1. Location is not a place of worship.

2. Parties are 18 yrs+

3. The act is consensual (agreed to by parties)

4. Parties are of the opposite sex if threatened with an arrest over above, please contact the police.”

TO DOWNLOAD OUR MOBILE NEWS APP CLICK HERE
WATCH RUSSIA 2018 HIGHLIGHTS HERE

Continue Reading

Motherland News

Somalia: 14 Lawmakers flops impeachment move against President Farmaajo.

Published

on

An impeachment motion brought against Somalia president Mohamed Abdullahi Farmaajo has been dropped after the required number of petitioners was not met.



The main crust of the petition was because of international deals Farmaajo had signed with neighbouring Ethiopia and Eritrea. The issue of unilateral appointments in the army and judiciary was also highlighted.

IMG-20180912-WA0030

Fourteen out of an initial 92 MPs who signed a petition last Sunday rescinded their decision crippling the motion which had insufficient members to proceed with.

FOLLOW US ON:
 INSTAGRAMLINKEDINYOUTUBETWITTER & FACEBOOK

Reports indicate that the fourteen said they did not support the motion but had been included wrongly.

TO DOWNLOAD OUR MOBILE NEWS APP CLICK HERE
WATCH RUSSIA 2018 HIGHLIGHTS HERE

Continue Reading

Facebook

Advertisement
Advertisement

Trending

Copyright © 2018 Anttention Media. All rights reserved