africa Angola Banking Economy Finance Government Tax Tech

Angola authorises US$180M Sovereign Guarantees

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A Sovereign Guarantee of USD 180 million, to be issued by the Finance Ministry, has been authorised by the Angolan Head of State, José Eduardo dos Santos, with the aim of guaranteeing the acquisition of necessary funding for the execution of a project relating to the installation, supply and servicing of the Integrated Computerised System of the General Tax Administration (SIIAT).

According to a Presidential Dispatch, which has reached ANGOP, the issuing of this Sovereign Guarantee will happen in the framework of the authorisation to initiate the simplified contracting for the acquisition of the SIIAT, which was approved by the Head of State, through the Presidential Order Number 120, issued on 19 July, 2017.

The Presidential Order states that the basic estimated value of the contract, which corresponds to USD 180 million, will be paid in foreign currency.

Source: Angop


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