Ver Angola

Industry

Government cashes in 1.5 billion kwanzas with the privatization of four agro-industrial enterprises

The privatization of four agro-industrial enterprises allowed the Government to pocket 1.5 billion kwanzas, according to the head of the privatization and restructuring department of companies at the Institute of Asset Management and State Equity (IGAPE).

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The official added that "a large part of these assets are currently paralyzed" and that the objective is to revitalize them, in order to "guarantee that these units return to work, to produce, thus providing products as well as jobs".

Cited by Rádio Nacional de Angola (RNA), he added that the total value awarded in the tender for these projects "is around 1.5 billion kwanzas".

In turn, the Secretary of State for Finance and Treasury, Ottoniel dos Santos, reiterated "the Executive's determination to promote a strong private sector, capable of contributing to the sustainable creation of new jobs, the increase of tax revenues, creation of national wealth".

Also quoted by RNA, the secretary said that the privatization program team "has the capacity to carry out one of its missions, which is the delivery of assets from State factions to the private sector".

It is recalled that on Tuesday, IGAPE revealed that the tender to privatize four agro-industrial enterprises was concluded. At stake were the agro-industrial complexes of Dombe Grande, Namibe and Caxito and also the Modular Slaughterhouse in Malanje.

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