Register now for Fin24 Dashboard and get access to portfolios, watchlists, financial comparison tools, and a whole lot more to help you achieve your financial goals.

Data provided by McGregor BFA
All data is delayed
Loading...
Where am I? Home
 
Prices are delayed by 15min.
Join the Fin24.com conversation about JSE-listed stock by using every time you tweet.

Zuma clinches Angolan deals

Aug 21 2009 17:15

Related Articles

Zuma signs oil deal with Angola

Standard upbeat about Angola

Angola wants SA workers

Zuma: Land reform not working

SA aims for stronger Angola ties

Zuma: Crisis help coming

 

Top Stories

Greece at last approves austerity measures

Feb 13 2012 07:58

Greek lawmakers have approved a new round of drastic austerity measures after a long day of street battles between police and protesters left dozens injured.

What to do with R200K?

Feb 13 2012 07:41

A reader gets advice on quick returns on a lump sum.

Financial mess 'unintended', says Nedbank

Feb 12 2012 15:59

Moral hazard, financial weapons of mass destruction, a huge mess - these were the words used by a founder member to sum up the collapse of the Pinnacle Point Group.

 
Share Share line Print

Luanda - South African President Jacob Zuma wrapped up his visit to Angola on Friday with a clutch of new deals that analysts said would lay the groundwork for closer ties between two key regional players.

Angolan President Jose Eduardo dos Santos hailed the two-day visit as a "new era in bilateral relations", while Zuma said the new trade partnerships would "change the economic landscape of southern Africa".

The deals covered everything from sports to industry, notably a partnership between Angolan state oil company Sonangol and South Africa's parastatal Petro SA for refining oil.

The two leaders also discussed the electricity supply from the Inga hydroelectric plant in neighbouring Democratic Republic of Congo (DRC).

But Zuma did not leave with everything he had hoped for and proposals for easing visa requirements and establishing a bilateral commission were left unsigned.

Business leaders and analysts however hailed the visit as a major step toward reviving relations that had cooled under former president Thabo Mbeki, as the two nations feuded over how to handle the crisis in Zimbabwe and the conflict in Congo.

The tensions left South African companies out of lucrative reconstruction jobs following the end of Angola's civil war in 2002, while China, Brazil and Western countries vie for a slice of the rapidly growing economy powered by oil and mining.

Hoping to catch up, Zuma brought along more than 100 business leaders - the largest business delegation on a presidential trip since the end of apartheid.

"There's a lot of energy, a lot of interest, a lot of commitment here at the moment, things are on the boil," said Jose Severino, president of the Association of Angolan Industry.

"Angola has many, many natural resources and then we see on the South African side, there are potentials, like know-how, capital and management, and from this we can create excellent partnerships to further enhance the growth of our country."

Roland Henwood, a foreign affairs expert at the University of Pretoria, said Zuma's visit was just the first step in reviving ties.

"What we have seen is an attempt to cement ties and get South Africa involved in what is one of the most important countries in southern Africa," he said.

"He (Zuma) laid the foundation at least for further talks" on their differences, Henwood added.

On Friday, Zuma also made an emotional pilgrimage to a former anti-apartheid guerrilla camp in Angola where he laid a wreath and paid tribute to fallen comrades.

Angola's ruling Popular Movement for the Liberation of Angola was a key ally of Zuma's African National Congress during the struggle against white minority rule with many ANC members sheltered and trained in Angola.

Zuma was set to return to South Africa later in the day.

- Sapa

 
 
Comment on this story
0 comments
Comments have been closed for this article.
Facebook still a closed book in China
Feb 08 2012 16:59

Mark Zuckerberg wants to ''friend'' China's massive market but how far is he prepared to go, and against what competition?

Attie

Whilst doing my regular book browsing at Exclusive Books just before Christmas 2011 a book with the simple title “My Book” caught my eye. Paging through the book I saw nothing else but wild life photographs with accompanying quotations by either the author or another well-known person. ... Read their blog...

Recently updated
Podcasts
The Sishen saga

Legal expert Peter Leon on the increasingly complex legal wrangle over the Sishen Iron Ore mine. Time: 8:17 Listen Here...

Before you list

Is the clarion call of the JSE calling? Listen to Fin24’s expert panel discussion before you list your small business. Time: 17:29

Compare and Buy

Compare and apply for hundreds of financial products from many suppliers.

Credit cards Medical aid Current accounts Think Money

Money Clinic

Money Clinic Do you have a question about your finances? We'll get an expert opinion.
Click here...

Loading...