Ver Angola


Government revoked contracts for the sale of six assets due to non-payment

The State revoked contracts for the sale of six assets concluded with three companies, due to definitive non-compliance with the conventional payment obligation on the part of the contractors, the Government informed this Thursday.


A note from the Institute for the Management of State Assets and Participations (IGAPE) refers that the contracts with the Edson Drov's group, of two assets, namely the tomato and banana processing plant in Caxito and the Cold Store in Caxito, both in the province of Bengo.

Terminations also took place with the company Jep Capital, for the industrial unit Indutubo, and with Angola All Box, with three assets, the industrial units Induplas, Indutive and Pipeline.

According to IGAPE, with the termination of these contracts, new tenders will be relaunched, making it possible for private entities with the financial capacity to carry them out to award these assets, reducing, on the one hand, the current level of non-compliance and, on the other hand, ensuring the revenue collection.

"This measure reinforces the position of the State, which through the Privatization Program (Propriv 2019-2022), took the initiative to resize the public business sector, by promoting conditions for private initiative and consequently boosting the national economy", highlights the document.

The Secretary of State for Finance and Treasury of Angola, Ottaniel dos Santos, informed last week, at the end of a meeting of the National Interministerial Commission for the Privatization Programme, that some installments are overdue, totaling 15.1 billion kwanzas.

"The treatment that is given to all processes that have already been completed and with payment delays is systematic", said the official, stressing that companies are contacted to cover the commitment assumed within the deadlines agreed with the State, whose non-compliance leads to other steps "which may lead to the termination of the contract, that is, reversal of the asset in favor of the State for a new reprivatization".


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