Ver Angola

Economy

Minister of Finance highlights BPC's "extraordinary results" despite pressure

The finance minister highlighted the “extraordinary results” recorded in the restructuring of Banco de Poupança e Crédito (BPC), despite pressure, which included death threats to the chairman of the board of directors.

: Facebook do BPC - Banco de Poupança e Crédito
Facebook do BPC - Banco de Poupança e Crédito  

"The BPC is not a miracle, it's discipline, it's sacrifice, it's taking risks, it's having your life threatened, physical integrity. This gentleman who is here received death threats, there's a price to pay, and he paid, he could have went wrong", said Vera Daves de Sousa, referring to the situation of the public bank.

According to the minister, going from negative to positive results "is extraordinary", defending greater dissemination of this work.

The minister said that the recovery of the bad debt that passed from the BPC to the Recredit entity could be better, however, "enough has already been done", stressing that there are lawsuits in court.

At the same meeting, the chairman of the board of directors of Recredit, Valter Barros, said that, in terms of credit recovery, between 2020/2021, the rate was above the stipulated objectives.

"We achieved a recovery of 28.9 billion kwanzas, last year we were 25 percent of our recovery objective, with 19.8 billion kwanzas", she said.

Válter Barros pointed out that cases valued at 129 billion kwanzas were sent to court, including executive actions, precautionary measures, and an insolvency procedure, "of a company owned by a very famous businessman", who was unable to pay the amount in debt.

"Insolvency proceedings are supposed to be processed quickly in court, but here in Angola, unfortunately, it's been two years and the process has not been judged", she said.

The finance minister said that the results achieved in the various reform processes were only possible with the political support of the holder of executive power.

"If the holder of executive power did not have this vision and did not support these reforms, we would literally die on the beach. I would not even be here with my revolutionary ideas anymore", she said.

"So it is only possible that we restructured and cleaned up BPC, that we recovered what we recovered through Recredit, the assets that we recovered, privatized what we privatized, because there were moments of great pressure, in which the holder of executive power did not break and didn't even give in to the pressure," she added.

Vera Daves said that they were stirred by "big interests", which were pressing at various levels.

"And whoever leads us said: move forward," she added.

"It's not flattery, it's true, unfortunately an environment has been created here in our country, that you can't speak well of anyone, when you speak well of someone, especially when you're in a leadership position, it's necessarily flattery. It's not flattery, it's true," she said.

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