Ver Angola

Economy

IGAPE to open asset privatization package exclusively for angolan investors

The State will make some of the assets included in the privatization program available only to angolan investors, a representative of the State Management of Assets and Participations Institute (IGAPE) announced this Thursday.

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"Very soon we will publish the inclusion of some assets whose privatisation will be exclusive to angolan entrepreneurs," said the director of IGAPE, Augusto Kalikemala, adding that they will be assets in the distribution area.

The information came during a 'webinar' on the privatization of state assets and participations, after the leader of the Industrial Association of Angola (AIA) warned about the concentration of assets in foreign hands, calling for greater opportunities for national entrepreneurs.

"In this privatization strategy we did not look at the sovereign opportunity to empower the national business community," lamented José Severino, pointing out that Angolans, in general, "are not capitalized," because "the capital has been concentrated in some hands and has been expatriated".

"According to our calculations, 80 percent of the assets that are being privatized will remain in the hands of foreign citizens and companies (...) and this will be paid in the long term, through the transmission of dividends," said the official, calling for reflection on this issue and that, as of 2022, the investments "begin to have an impact on the economy".

José Severino also talked about the tomato processing plant in Dombe Grande (Benguela), suggesting that a management contract should be made for the industrial unit, which was even included in the Privatization Program (Propriv), warning about the vandalization and looting that the facility has been suffering.

The IGAPE administrator replied that the asset was even put up for sale and went out to tender, which ended up being deserted, due to the low value of the bids, while the objective now involves the cession of the exploration and management rights.

"We are concerned about the issue of vandalization and looting, not only there, but in other assets, and we are taking a more comprehensive initiative to control and verify the state of these assets," said Augusto Kalikemala.

Still this year, we will have a satisfactory solution for the Dombe Grande and Namibe plants, he concluded.

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