Falling oil receipts and a foreign exchange crisis have hit Angola’s economy hard. A recent Eurobond issue, a prospective IMF loan and the restructuring of state oil company Sonangol should help the government fund much-needed infrastructure improvements – but any recovery is likely to be slow and hard won. James King reports.
Latest articles from James King
Angola begins slow journey towards a non-oil economy
July 1, 2016Angola has come through a long civil war, enjoyed a relatively brief boom period, and is now encountering a long-term slump in oil prices. This has led the government to instigate economic reform and support infrastructure improvements to draw investors to the country’s other abundant resources. James King reports.
Angola’s banks will sink or swim over wave of consolidation and regulation
July 1, 2016A dollar liquidity crunch amid regulatory concerns, bad loans and low oil prices have tested Angola’s banks recently. Now central bank moves to tighten rules and a wave of consolidation are shaking up the sector, resulting in survival of only the fittest. James King reports.
Angola’s sovereign wealth fund aims to boost non-oil investment
July 1, 2016As part of Angola’s diversification efforts, its sovereign wealth fund is working to boost non-oil sectors of the country's economy by investing at home and abroad in diverse assets. James King reports.
The Dubai International Financial Centre: forward on all fronts
July 1, 2016The Dubai International Financial Centre has risen to become a major trade, investment and logistics hub over the past decade. However, as James King discovers, it is eyeing further growth through its strategy to become a leading global centre by 2024.
Top 1000 World Banks – National Commercial Bank retains Middle East lead
June 29, 2016Middle Eastern banks continue to show impressive Tier 1 capital growth, with Saudi Arabia's National Commercial Bank and Qatar National Bank breaking into the global top 90 for the first time. Among the rest, National Bank of Abu Dhabi is the region's big winner.
Top 1000 World Banks – New arrivals from the US soar
June 29, 2016The dollar’s resilience has helped the US produce a large number of new arrivals in the 2016 Top 1000 World Banks ranking, while healthy numbers of European and Asian banks have returned to the list.
Top 1000 World Banks – Kenya bucks Africa’s downward trend
June 29, 2016The depreciating rand and falling oil prices have caused trouble in Africa, with South African and Nigerian lenders slipping down the overall rankings, but Kenyan entrants still managed to show Tier 1 growth.
Is the worst over for South Africa's spluttering economy?
May 2, 2016At first glance, South Africa is in a position of near-crisis. Its economic growth is sluggish, its government is making a series of unpopular decisions, and a severe drought is denting its agricultural output. However, the private sect seems to approve of the country's new finance minister, and the rand is showing signs of stability. So is there cause for optimism? James King investigates.
South Africa's banks stay ahead of the slump
May 2, 2016Though South Africa's economy is cooling, its banks are continuing to perform strongly. For some, growth is coming from operations elsewhere in Africa, while for others its is stemming from the domestic market. James King looks at the strategies being employed to keep the country's lenders buoyant in a slow-growth environment.