Ver Angola

Economy

Government fits 52 billion kwanzas with privatization of farms and brewery assets

The Government has allocated more than 52 billion kwanzas with the award to the private sector of five agricultural farms and their stakes in breweries, the Ministry of Finance announced this Thursday.

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The State Assets and Participations Management Institute (IGAPE) signed award contracts, in favor of private individuals, for five farms in the provinces of Zaire, Cuando-Cubango, Malanje and Uíje and three assets in the beverage sector.

In the beverages sector, the State sold its shareholdings in the Cuca (1 percent), Eka (4 percent) and Ngola (1 percent) breweries in the provinces of Luanda and Huíla, respectively.

For the Secretary of State for Finance and Treasury, Ottoniel dos Santos, who was speaking at the opening of the ceremony, the contracts now initialed "are important for the implementation of the Privatization Program (ProPriv), but above all for the country".

These awards "represent a step towards the diversification and growth of the national economy and increase the potential for job creation," he said.

According to the government official, the conclusion of these privatization processes, whose contracts are valued at more than 52 billion kwanzas, "is an important testament to the confidence of investors in the future of our economy, particularly in the agroindustry sector, thus recovering assets that were in an idle state ".

The farms of Cuimba, province of Zaire, Longa, province of Cuando-Cubango, from Pungo to Ndongo and Quizenga, province of Malanje, and of Sanza Pombo, province of Uíje, are the five agricultural enterprises awarded to the private sector.

Ottoniel dos Santos considered, in his speech, that the awarded projects "will play an important role in the regions where they are installed and support in a very concrete way the fight against the country's asymmetries".

"Because they will employ hundreds or perhaps thousands of young people and generate income and circulation of capital in these locations," he noted.

ProPriv includes the privatization of more than 190 companies and / or State assets by 2022 in the sectors of banking, agriculture, hotels and tourism, finance, insurance, industry, telecommunications, oil, among others.

The minister reiterated the "determination of the Executive" to achieve the objectives defined for ProPriv, namely "the promotion of a strong private sector, capable of contributing to the sustainable creation of new jobs, the increase of revenues and the creation of national wealth" .

"This is the line that guides the implementation of ProPriv. More than just obtaining revenue from the State, we intend to create a robust and competitive private business sector", he assured.

ProPriv "will continue, despite the current challenging circumstances of the economy and will fulfill its role in changing the paradigm and reducing the state's presence in the economy", he concluded.

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