Ver Angola

Construction

Rehabilitation of the Sovereign Fund facilities estimated at 884 million kwanzas

The Fundo Soberano de Angola (FSA) launched a tender limited by previous qualification to carry out works to adapt the facilities of its new headquarters, in Luanda, estimated at 884.2 million kwanzas.

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In a statement made public by Jornal de Angola, the FSA states that the works to adapt three floors of the premises of the new headquarters of the institution in the building Imbo Business Center, in Luanda, have an estimated value of 884,250,000 kwanzas.

With an execution period of six months, it is emphasized in the communiqué, the tender that implies the conclusion of a public contract, in the light of the Public Contracts Law, is open only to the participation of national entities.

The FSA wants an "economically advantageous" proposal from companies with minimum technical capacity requirements, five years of minimum contract experience and a portfolio of at least two construction works or "comparable complexity" suitability in the past four years.

Declaration on the global turnover for the last three years and adequate bank statement or proof of insurance underwriting for professional risks and list of clients and works carried out in the last two years are also among the requirements.

According to the note, signed by the chairman of the FSA's Board of Directors, Carlos Alberto Lopes, the pieces of the procedure for the contest cost 75,000 kwanzas and the deadline for submitting applications is until 20 April.

The Angola Sovereign Fund obtained in 2019, the year to which the last financial information is reported, a net result of US $ 234 million after two years of losses.

The result was associated, according to a note released at the time, with the good performance of the international financial markets in which the Fund has invested more than US $ 1789 million in which it recorded potential, unrealized gains from debt instruments (bonds) and financial instruments. capital (shares) in the cumulative value of $ 189 million.

In 2020, the FSA had assets of US $ 4587 million and equity of US $ 3669 million, while the costs of managing net investments were US $ 4 million in 2019 and operating costs reached US $ 15 million.

In 2018, the Fund had a loss of 104 million dollars, associated with the poor performance of the financial markets, in which that institution had invested more than 1431 million dollars.

Potential, unrealized losses on bonds and shares amounted to $ 162 million.

In 2017, the FSA posted a loss of US $ 384 million which resulted from "the cancellation of potential capital gains recognized in 2016 on assets valued at that date, consisting essentially of the Angolan State's concessions for the construction and operation of the Port do Caio, exploration of six agricultural farms and forest perimeters, for a total of US $ 435 million.

The restructuring of the FSA began in January 2018, with the appointment of a new Board of Directors and the creation of an investment committee that took office in the third quarter of 2019.