According to Mercer’s annual “cost of living” ranking, that was released today, Angola’s capital Luanda is the most expensive city in the world, ahead of more usual suspects like Hong Kong, Zurich, and Singapore. In financial terms: to rent a two bedroom apartment in Luanda, you will pay on average an astonishing $6,800 per month, the FT reported.

How is that possible? Angola’s GDP per head is just $7,700 per year. In other words, the average Angolan would only be able to rent a two-bedroom apartment for one month of the year. Surely the math doesn’t add up?

Indeed it doesn’t. But that doesn’t mean the numbers are wrong. It merely means we’re comparing apples and oranges.

Here is the top 10 (and you can see the complete list here):

cities

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Three of the Most Important Languages of Angola

Posted by khethiwe qotyana on 20 March 2018, 11:15 SAST
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For those who don’t know, Angola is an African country located on the Atlantic coast in the south. It shares a border with Namibia, Zambia, and the Democratic Republic of the Congo and is among the largest countries in Africa. The seeds of colonization of Angola by the Portuguese were planted in the 1500s, with trading posts and small settlements along the coast. By the 1800s, Portuguese immigrants, among other European immigrants, began making their way to the country to start new lives.

Angola did not become independent from Portugal until 1975. Though it was under Portuguese rule for such a long time, some of the native languages of the land did survive. Here you can take a look at a few of the most important languages spoken in Angola:

1. Angolan Portuguese

Having been a Portuguese colony for so long, it’s only natural that Portuguese would end up being the official language of Angola. However, just like other African countries where Portuguese is spoken, there is some variation in how it is spoken. From the beginning, however, it was seen as very important to speak Portuguese as accurately as possible, and so Standard European Portuguese is the preferred dialect. There are some phonological differences between Angolan Portuguese and European Portuguese, but not as many as there are between Brazilian Portuguese and European Portuguese. There are, however, some words that are only used in Angolan Portuguese.

2. Umbundu

There are many languages of the Bantu language group spoken in Angola, but Umbundu is the one with the most speakers. About one third of the population of Angola are native Umbundu speakers, known as “Ovimbundu”. Umbundu is mostly spoken in the Central Highlands of Angola, and also along the coast of those same highlands. It is known for having three different tones: low, downstepped high, and high. You can see these tones in words by looking for different accent marks. The first acute (á) accent of a word is the high tone, any acute accents after that one are downstepped high tones, and the accent grave (á) represents the low tone. If a syllable doesn’t have an accent marking, then it has the same tone as the syllable before it.

3. Khwe

Khwe is a language that belongs to the Khoe language family, and is a dialect continuum as well. That means that there are a group of dialects that exist on a spectrum, with those next to each other being very similar and those on either end of the spectrum being very different, sometimes even mutually unintelligible. There may not be very many speakers of Khwe in Angola compared to before Angola became an independent country. This is because the Portuguese used Kxoe, one of the ethnic groups that speaks Khwe, as trackers, which generated anti-Kxoe sentiment among the rest of the population of Angola. Those who may have fled are returning now in small numbers, so we may see an increase in Khwe speakers in Angola.

https://alphaomegatranslations.com/foreign-language/three-of-the-most-important-languages-of-angola/

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Angola faces currency test in economy shake-up

Posted by khethiwe qotyana on 20 March 2018, 11:10 SAST
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Luanda - Angolan President Joao Lourenco was elected five months ago promising an "economic miracle".

But the path to transforming the oil-dependent country's economy will be long and difficult - as was highlighted by anger over the de facto de-valuation of the local currency.

Since January, new central bank governor Jose de Lima Massano has been presiding over something of a fiscal revolution, weaning the local kwanza currency off its artificial peg to the dollar, and phasing in a floating exchange rate.

The local unit has been fixed at a rate of 166 to the dollar since 2016, even if the kwanza has changed hands at a rate of more than 400 for a dollar on the black market.

 

"We have an exchange rate that doesn't reflect reality," Massano conceded.

Officials are treading cautiously with the reforms.

Before the currency is allowed to float completely freely by the end of 2018, the kwanza is now trading between two rates that authorities are for now keeping secret to avoid speculation.

The central bank chief justified the move by pointing to the urgent need to stem the "continuing decline of currency reserves".

n 2014, Angola - which is Africa's second largest oil producer - was badly hit by the plunge in the price of crude which is by far the country's largest source of income.

The decline threw the country into a prolonged crisis.

After many years of a centrally-controlled exchange rate, Angola came dangerously close to recession and saw its dollar reserves severely depleted by an unsuccessful effort to prop-up the kwanza.

Angola was thought to have had $20bn in reserves at the start of 2017, which had slumped to $14bn by November, according to analysts.

"If our foreign currency spending continues at this pace, we run the risk of seeing (reserves) halve between now and the end of the year," warned central bank chief Massano.

Such a dramatic evaporation of hard currency prompted the new government to take action.

Major global brands such as the Emirates airlines have recently begun to back off from Angola because of the currency crisis.

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Angola celebrates 35 years of independence

Posted by khethiwe qotyana on 20 March 2018, 10:55 SAST
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Angola is celebrating 35 years of independence after banishing its long chapter of civil war to the history books and becoming one of the world’s top oil producers, but is still divided by a huge wealth gap.

 

Celebrations are to be held on Thursday at the November 11 Stadium on the outskirts of Luanda, a 50 000-seat venue that symbolises the war-torn country’s rebirth and which hosted the opening match of the Africa Cup of Nations in January.

The party is being held amid an economic boom and as memories fade of four decades of conflict in the sprawling Southern African nation.

Independence from Portugal was preceded by a 14-year guerrilla war against the colonial rulers, and followed by a 27-year civil war that ended in 2002.

The peace dividend has enabled Angola’s economy to surge ahead, with the World Bank predicting growth of up to 7,5% this year.

Much of that surge has been fuelled by a rise in oil exports, Angola now vying with Nigeria as Africa’s top oil exporter.

In December 2009, Luanda hosted a summit of the Organisation of the Petroleum Exporting Countries (Opec), which Angola had joined two years before, allowing the government to showcase a series of massive public works projects.

And in January, the country hosted the Africa Cup of Nations, the continent’s premier football tournament.

Poverty a daily reality
But poverty remains a daily reality for many of Angola’s 18,5-million people. According to Unicef, 87% of urban residents live in informal settlements, and just 42% of Angolans have access to water.

 

Seventy percent of the population lives on less than $2 a day.

“The distribution of wealth is too asymmetrical,” economist Alves da Rocha says. “The richest 20% of Angolans share 60% of national revenues, while the poorest 20% have only 7% of revenues.

Da Rocha says for that balance to change, Angola has to “actively combat” corruption. Angola was recently ranked the 10th-most-corrupt country in the world by the watchdog Transparency International.

The country is ruled by Jose Eduardo dos Santos, the longest-serving leader in Africa after Libya’s Moammar Gadaffi, who has faced a presidential election just once, in the 1992 poll that was cut short by renewed fighting.

Dos Santos took over in 1979 from Agostinho Neto, leader of the People’s Movement for the Liberation of Angola (MPLA), who proclaimed Angola’s independence on November 11 1975, and became the country’s first president.

That date also marked the beginning of a civil war that saw the MPLA and a rival rebel group, the National Union for the Total Independence of Angola (Unita), fight a bloody 27-year conflict for control of the country.

Proxy battle
The power struggle became a proxy battle in the Cold War, with the Soviet Union and Cuban army backing the MPLA and the United States and apartheid South Africa backing Unita.

Although the MPLA abandoned Communism in favour of a market economy in the early 1990s, the peace process broke down with a failed election in 1992. The war, which ultimately claimed half-a-million lives, ended only in 2002 with the death of Unita leader Jonas Savimbi.

But while the conflict is officially over, the African Cup of Nations served up a reminder of remaining tensions when separatists in the oil-rich northern exclave of Cabinda carried out a deadly attack on the Togo team’s bus.

Under a new Constitution adopted in February, Dos Santos could extend his grip on power for another decade if his ruling MPLA retains its grip on Parliament in elections scheduled for 2012.

The MPLA won 80% of the vote in the first legislative elections in 2008. Under the new Constitution, the president will be elected directly by legislators, and Dos Santos will be eligible for two more five-year terms.—Sapa-AFP

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