There are still 143 billion Kz left to enter the State coffers from the 103 assets sold since 2019.

Although the State, through IGAPE, has already absorbed 600 billion Kwanzas, equivalent to almost 700 million dollars, there is still a good portion to be received. According to IGAPE's accounts, more than 140 billion dollars should still come in.

A total of 143 billion Kwanzas is how much the State still expects to receive from the 103 assets since 2019, within the framework of the Privatization Program (PROPRIV), led by the State Management and Participation Institute (IGAPE), according to figures from the organization distributed to the press.

So far, a 'cake' in the order of 600 billion kwanzas, corresponding to 697 million dollars, has entered the State's coffers, via IGAPE, from the 103 assets sold since 2019.

Regarding the distribution of revenue collected by IGAPE, the body transferred a total of 202 billion Kwanzas to various entities, with emphasis on Sonangol, which leads, with a total of 130 billion Kwanzas, the value received from assets sold since 2019 to the present date. In fact, Sonangol is the largest beneficiary of the program's income, as a large part of the companies sold are from the oil sector.

Next is the State, with 65 billion and other state entities, which together received 7 billion kwanzas from PROPRIV.

In response to a question from Kieto Economia, on the sidelines of the training seminar for economic journalists, on “Execution of PROPRIV”, the director of the Department of Privatization and Business Restructuring, João Sionguele, said that companies such as Mota Engil, Hotel de Convenções of Talatona, several farms in the interior of the country have not yet awarded even 1% of the value due to the fact that they are “still within the deadline”, as provided for in the established contractual terms.

“The companies have not yet awarded an award because they are within the deadline defined in the contract and, within the period, we did not find reasons that we can consider for non-compliance” explained the person in charge.

The privatization process began with the promulgation of Presidential Decree No. 250/19, which approved the Privatization Program for the period 2019-2022, which includes privatization of companies included in the IGAPE balance sheet. However, the initial completion forecast was the first half of 2022, which, however, was violated.

This process also includes the privatization of banks BAI, valued at 40,144,800,000 Kz and Banco Caixa Angola, at 20,197,000,000 Kz, and these have already awarded the amount and IGAPE claims to have received it, that is, in accordance with the table statistics from the asset management company, these companies completed the process 100%.

Mota Engil and HCTA process to be completed

Regarding the company Mota Engil Angola (10,000,000,000 Kz) and the Talatona Convention Hotel (17,800,000,000 Kz), these yielded 27 billion to PROPRIV.

However, IGAPE has not yet accounted for the receipt of these amounts, and guarantees that companies have not channeled even 1% of the established amount.

It is worth remembering, however, already in 2022, in a note, published by the Institute of Management of Assets and Participations of the State of Angola (IGAPE), the body took for granted the conclusion of a public tender for the privatization of the stake that the State held in company Mota Engil Angola, having informed that this was awarded to the company Mota Internacional Comércio e Consultoria Económica, for the value of 10 billion Kwanzas.

In order to train journalists on the legal and operational model of PROPRIV, IGAPE in partnership with the Association of Economic Journalists recently held a training seminar at its facilities on the implementation of the program for the period 2024-2026.

There are still 143 billion Kz left to enter the State coffers from the 103 assets sold since 2019

Although the State, through IGAPE, has already absorbed 600 billion Kwanzas, equivalent to almost 700 million dollars, there is still a good portion to be received. According to IGAPE's accounts, more than 140 billion dollars should still come in.

Feb 28, 2024 - 15:34
There are still 143 billion Kz left to enter the State coffers from the 103 assets sold since 2019
© Photography by: DR
There are still 143 billion Kz left to enter the State coffers from the 103 assets sold since 2019

A total of 143 billion Kwanzas is how much the State still expects to receive from the 103 assets since 2019, within the framework of the Privatization Program (PROPRIV), led by the State Management and Participation Institute (IGAPE), according to figures from the organization distributed to the press.

So far, a 'cake' in the order of 600 billion kwanzas, corresponding to 697 million dollars, has entered the State's coffers, via IGAPE, from the 103 assets sold since 2019.

Regarding the distribution of revenue collected by IGAPE, the body transferred a total of 202 billion Kwanzas to various entities, with emphasis on Sonangol, which leads, with a total of 130 billion Kwanzas, the value received from assets sold since 2019 to the present date. In fact, Sonangol is the largest beneficiary of the program's income, as a large part of the companies sold are from the oil sector.

Next is the State, with 65 billion and other state entities, which together received 7 billion kwanzas from PROPRIV.

In response to a question from Kieto Economia, on the sidelines of the training seminar for economic journalists, on “Execution of PROPRIV”, the director of the Department of Privatization and Business Restructuring, João Sionguele, said that companies such as Mota Engil, Hotel de Convenções of Talatona, several farms in the interior of the country have not yet awarded even 1% of the value due to the fact that they are “still within the deadline”, as provided for in the established contractual terms.

“The companies have not yet awarded an award because they are within the deadline defined in the contract and, within the period, we did not find reasons that we can consider for non-compliance” explained the person in charge.

The privatization process began with the promulgation of Presidential Decree No. 250/19, which approved the Privatization Program for the period 2019-2022, which includes privatization of companies included in the IGAPE balance sheet. However, the initial completion forecast was the first half of 2022, which, however, was violated.

This process also includes the privatization of banks BAI, valued at 40,144,800,000 Kz and Banco Caixa Angola, at 20,197,000,000 Kz, and these have already awarded the amount and IGAPE claims to have received it, that is, in accordance with the table statistics from the asset management company, these companies completed the process 100%.

Mota Engil and HCTA process to be completed

Regarding the company Mota Engil Angola (10,000,000,000 Kz) and the Talatona Convention Hotel (17,800,000,000 Kz), these yielded 27 billion to PROPRIV.

However, IGAPE has not yet accounted for the receipt of these amounts, and guarantees that companies have not channeled even 1% of the established amount.

It is worth remembering, however, already in 2022, in a note, published by the Institute of Management of Assets and Participations of the State of Angola (IGAPE), the body took for granted the conclusion of a public tender for the privatization of the stake that the State held in company Mota Engil Angola, having informed that this was awarded to the company Mota Internacional Comércio e Consultoria Económica, for the value of 10 billion Kwanzas.

In order to train journalists on the legal and operational model of PROPRIV, IGAPE in partnership with the Association of Economic Journalists recently held a training seminar at its facilities on the implementation of the program for the period 2024-2026.