Government concerned about non-compliance with 14.1 billion kwanzas in privatization installments

Vera Daves de Sousa, in an interview with public radio, said that the Institute for the Management of State Assets and Participations (IGAPE) is monitoring the situation "millimetrically" and will propose to Organs competent bodies what the position will be if these non-compliances continue. .

"We have a performance that I would say positive, 52 percent of implementation. We already have 73 assets sold, we have a de facto financial inflow of around 73 billion kwanzas and then we also have a valued inflow in assets that are part of the balance sheet of institutions of the State or of the State itself", he said.

The holder of the Finance portfolio stressed that what is needed now "is to closely monitor this issue of non-compliance".

"We have installments that are coming, 100 billion kwanzas to receive. We have the possibility, in the end, to exercise purchase options from factories that are being managed, let's see if whoever is managing them decides to buy or not and we have to closely monitor these 14.1 billion kwanzas of overdue installments", he stressed.

However, Vera Daves de Sousa made a positive assessment of the process, considering the current year to be demanding, with 68 assets for sale or at the beginning of sale, with proposals for the start-up of the commercialization of ENSA, the insurance company, Banco Angolano de Investimentos (BAI), Banco Caixa Geral Angola and the Angolan Securities and Debt Exchange (Bodiva).

Vera Daves de Sousa announced the restructuring of five guarantee funds, with work in progress for their condensation.

According to the minister, most funds are accountable, although not all of them have the necessary quality. "Many of them have poor quality and we have, whenever this happens, signaled and when this provision is not made we also have signaled", she indicated.

The official admitted that monitoring this number of funds is challenging, so the decision was made to restructure the fund's framework, condensing them. "To be fewer in number and there is no dispersion of surveillance, nor dispersion of resources, nor dispersion of efforts", she stressed.

"And this is the path we are trying to follow to condense them. In the meantime, we will focus on those who have generated value in some way, whose initiatives are there and visible", she added.

The Credit Guarantee Fund was one of those mentioned by the minister as being "effectively granting guarantees for some financing that are given at the banking level".

"FADA [Agrarian Development Support Fund] is effectively financing activities related to the agricultural sector, tractors and also some projects related to family farming, we also have the FACRA [Fund of Active Angolan Venture Capital], which is also active and has made its contribution, albeit to a lesser extent, so that those funds that we have noticed that there are active initiatives in progress, we have proposed, in 2022, to make an additional contribution of capital, which does not harm the restructuring that must continue to be done", he said.

According to the minister, the restructuring will be carried out on a six-month basis, one after the other, with priority given to the infrastructure fund.

"We closed a restructuring then left for another until closing the five funds that we want to come into existence", she underlined.