Africa Angola Economy Finance Government Industry Privatisation

Process of liquidation of public companies in Angola is underway

The process of liquidation of state-owned enterprises that have been extinguished by the government due to financial incapacity is still ongoing, said the chairman of the State Assets and Stake Management Institute (IGAPE) in Luanda on Friday.

Valter Barros said these companies operated in the construction, transport, agriculture and industrial sectors, among others, and, without citing numbers, said that some had already been sold to private entities.

On Friday, Brazilian Finance Minister Archer Mangueira told the Angop news agency that the amount collected in this process is for the payment of arrears in workers’ compensation, Social Security and General Tax Administration, as well as for paying off debts to the companies that supply goods or services.

Another challenge for IGAPE, he said, is the privatisation of some public companies, which is being led by a commission headed by the Minister of State for Economic and Social Development, Manuel Nunes Júnior.

“The process is underway and will be sent to the National Assembly soon, for consideration and voting,” he said.

Source: macauhub

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