The Minister of Commerce was delegated the authority to sign the revocation agreement and "create mechanisms for managing and operationalizing the REA", the diploma states.
The management of REA was handed over to Gescesta, a company initially formed by Gemcorp and Tools and Foodservice, linked to the Carrinho group, in 2021.
The objective was to operationalize this executive initiative, which aimed to regulate the market and influence the reduction in prices of 11 basic food products.
In the first phase, it was planned that up to 354,000 tonnes of food would be placed on the Angolan market, with a forecast of progressively increasing until reaching 520,000 tonnes.
According to the weekly Expansão, Gemcorp abandoned Gescesta shortly after the company was created, with management handed over solely to Carrinho - which denies having been directly linked to Gescesta - but in August this year the newspaper Valor Económico reported that the Benguela group had been removed, and an audit was opened to investigate possible irregularities.
The Strategic Food Reserve generated more than five hundred million dollars in the purchase and sale of food products in 2022.