The Vice President of the International Finance Corporation (IFC) for the Middle East and Africa, Sérgio Pimenta, was speaking to the press in Luanda, on the sidelines of the roundtable on Public-Private Partnerships (PPP) on the Path to Sustainable Socioeconomic Development.
"We have the ambition this year - our fiscal year started in July and ends in June - to do much more. I believe that [we can] do at least 200 million dollars, but I think we could do much more, we have the capacity to do more, the opportunities are here and I think we can bring value to this country, to help it develop, leveraging the effectiveness that the private sector can bring", he said.
Sérgio Pimenta highlighted that the IFC finances the private sector, making loans, guarantees, and equity investments, with the operations being mostly long-term.
According to Sérgio Pimenta, since the opening of the IFC office in 2019, more than US$500 million has been mobilized for Angola, both in terms of long-term and short-term investments, to support international trade operations, which are important for the country.
The official stressed that one of the objectives of his visit to the country is to work with the local team to analyze possibilities for increasing financing.
According to Sérgio Pimenta, this commitment by IFC and the World Bank to Angola is reflected in the collaboration with the Government to support the development of a solid portfolio of PPP projects in priority sectors.
"In Angola, we see good opportunities to support the health, energy, transport, and communications sectors. These sectors are critical to the country's sustainable and inclusive economic growth, with the potential to create jobs and increase productivity in other sectors, while ensuring the provision of public services that are critical for social development," he said.
With an economic growth forecast of around 4.3 percent in 2025, following the economic recovery in 2023, Sérgio Pimenta considered that a reduced dependence on the oil industry "would help boost economic growth, create good jobs and improve living conditions".
"In the field of economic diversification, there are good prospects. The Government can and is focusing more on agriculture, fisheries, industry and renewable energy production throughout the country, as well as on digital services to build a more resilient and diversified economy", he said.
The official defended the need for "significant investment by the private sector, associated with strong political commitment and support from international development partners", also considering that PPPs are one of the ways to overcome one of Africa's main challenges, which is the lack of adequate infrastructure and the services that depend on them.
Sérgio Pimenta stressed that IFC's technical assistance services for transactions in Angola have supported the government's plans to sell its stake in Unitel, a private mobile phone company, including a possible listing on the stock exchange.
The IFC official told journalists that this is an important issue that could bring more competition and better quality services, highlighting that the telecommunications sector can contribute to the country's development.
