Browsing: Angola

1. Legal analyses

1.1 Concept of Angolan oil company

Under Presidential Decree Law no. 3/12, of 16 March 2012 (hereinafter the “Presidential Decree”), an oil company – one which has its scope or object participating in oil operations – is deemed Angolan (= owned by Angolan) if the respective share capital are 100% owned by Angolan citizens.

1.2. Benefits to the Angolan oil company

The benefits granted to Angolan oil companies under the Presidential Decree are as follows:

• Exemption from the signature bonus. Given the phase of the operations, this benefit is not applicable to this case;
• Reduction of petroleum production tax rate from 50% to 30% (i.e., equal to the industrial tax rate);
• Reduction of petroleum income tax rate from 65,75% to 30% (i.e., equal to the industrial tax rate);
• Exemption from the contribution for the financing of the affiliates of the Concessionaire ;
• Exemption from the contribution for

Allied Wallet Africa, a global FinTech company offering various payment solutions in 196 countries, recently announced a new office in Angola, to support the growing opportunities for African entrepreneurs and business owners.

Millions of people are eager to engage in online commerce but lack proper support and functionality. South Africa has the largest e-commerce market in the continent with Nigeria and Kenya following closely, and people of the region are eager to trade and transact in the new digital space.

“Africa deserves the opportunity to participate in e-commerce, they deserve advancement,” said Allied Wallet Africa CEO Andy Khawaja, “We are happy to be chosen for this opportunity. We are dedicated to helping these entrepreneurs and creating new opportunities in the region.”

Allied Wallet Africa will bring new, ‘open API’ online payment solutions along with mobile payment options, digital wallet solutions, and even solutions catered to utility and payroll functions. …