Social life in Angola is very alive and, at this moment, political and judicial matters dominate the country’s agenda. However, it is in the domain of the economy that there is an extremely significant evolution on which it is important to reflect and proceed to a careful analysis.
The recent (February 2023) International Monetary Fund (IMF) report on the country underlines the favorable advances of the Angolan economy and also the necessary reforms. It is based on this report that we will enunciate Angola’s main trends in the economic field and the neuralgic points to avoid relapses such as the last long recession that began in the presidency of José Eduardo dos Santos.
Angola’s economy is in full recovery after the five-year recession (2016-2020). By 2022, supported by higher oil prices and resilient non-oil activity, it has already reached growth of more than 3%, estimating the IMF that by 2023 the country continues to see the GDP increase in the order of 3.5%.
Therefore, we see growths of over 3% per year, which by our calculations, maintaining the price of oil and accelerating the liberalization of Angolan markets and foreign investment, could accelerate to numbers of 4% or 5%, adopted that are the right policies.
The optimism we share here results from the fact that non-oil growth has been widespread, despite a difficult external environment, as it means that the non-oil sector is reviving, as well as the attention that several developed countries with market economies are providing Angola, as is the case of US, Spain, France and Germany. Mentions should be made to recent visits to Angola of the King of Spain and the President of the French Republic, Emmanuel Macron (February and March 2023).
It should be noted that the debt that the public debt/GDP ratio has dropped about 17.5 percentage points of GDP, for an estimated 66.1% of GDP, aided by a stronger exchange rate. It is estimated that the checking account remained with a large surplus in 2022, while coverage of foreign currency reserves remained adequate (IMF data).
The fact is that the Angolan government has, according to the IMF, to adopt and maintain solid macroeconomic policies and maintained a commitment to structural reforms that are vital to Angola’s economy.
We understand that it is in the verification of fundamental structural reforms that resides the future of the Angolan economy. We highlight some reforms that are necessary to take and/or continue.
1-First renovation, with impact on the medium and long term, is to foster training for the economy of young people. Training not only means, and perhaps not in most, university education, but solid training in basic education and in professional aspects. We argue, therefore, that there must be an effective bet on vocational and technical education in Angola, before any other. A real bet on professional and technical schools and institutes, which are seen as valuable alternatives to academism and not mere university imitations (tragic error of Portuguese polytechnics).
2-Second renovation entails the creation of more conditions for investment, no longer at the legal level, where there is a modern framing and updated twice during the presidency of João Lourenço, but at the judicial, administrative and good practices level. The investor must feel safe to arrive in Angola and apply his money. One should not be afraid of being without the money due to any interference from an oligarch, or see any process dragging on in court. The speed and impartiality of justice is linked to good investment.
3-Third reform is dedicated to the financial sector, there is a special emphasis on increase credit to private persons and and the resolution of banking weaknesses. Quickly we must merge and capitalize banks, creating a banking sector not dependent on the state, clientelism or mere public debt management.
Finally, among other reforms, we highlight the true imperative of making more progress in strengthening governance and transparency, to improve the business environment and promote private investment.
Of course, continuing and accelerating anti-corruption strategy is also important.
National Employment Plan
All these news should be framed with the well-being of the population and the serious problems still pending. The one we highlight is unemployment, which although noting a slight descent, is still very high, about 30% . This is an area in which we advocate direct state intervention. It is evident that the increase in GDP corresponds to an unemployment decrease, however, we believe that in the face of such high unemployment, in the short term the immediate action of the government is fundamental.
In this sense, the recent announcement of the World Bank of US $ 300 million for a project to accelerate economic diversification and job creation is to greet. Not knowing in detail the design of this acceleration program, its existence should be underlined, as well as the previous announcement of the Angolan Labor Minister of the creation of a National Employment Program, with the aim of creating more opportunities for insertion of young people in job market. Also, in this case, the data are scarce about the design of the plan, and it is certain that the President of the Republic had declared in the discourse of the State of the Nation of 2022, the creation of the referred plan.
So far, these initiatives related to unemployment, although positive, seem uncoordinated and poorly implemented. Therefore, the truth is that Angola would win to see a comprehensive national employment plan, specific and directly coordinated by the President of the Republic, without the risk of not properly implemented a plan, which in the short term is fundamental to the economy and Angolan population.
https://www.cedesa.pt/wp-content/uploads/2023/03/econ2.jpg6581006CEDESA-Editorhttps://www.cedesa.pt/wp-content/uploads/2020/01/logo-CEDESA-completo-W-curvas.svgCEDESA-Editor2023-03-17 13:53:002023-03-13 18:59:13Angolan Economy trends, necessary reforms and national employment plan
The drought in southern Angola is a phenomenon that plagues the region over and over again, causing hunger among broad strata of the population.
As of the end of 2020, the region faced the worst drought in 40 years. According to the spokesman for the World Food Program (WFP) Tomson Phiri, “the country has been experiencing a period of drought since last December, with rainfall below average”.
This scenario, which has been repeated, and will likely worsen due to global warming, as the World Bank warns, writing that, “natural hazards in the form of floods, erosion, droughts and epidemics (…) prevent development and are expected to worsen as the climate changes”, implies a structuring intervention by public authorities.
The objective of this study is to investigate the structural measures that the Angolan government is developing to present sustainable solutions to the drought problem. We focus on the province of Cunene located in the southern interior of Angola, which has been one of the most affected by drought.
In fact, since Angola became independent, it is only recently that the problem of drought has been taken more seriously by the authorities. Before these projects, the situation was somehow alleviated with water holes, however the suffering of the population remained or gradually worsened. The provincial governor of Cunene, Gerdina Didalelwa, on one occasion confessed that “these drillings have been done empirically and are only spending money”. In other words, drillings can even be carried out, but only when there is professionalism behind it; only after an in-depth study was carried out by companies that have technical skills and a thorough knowledge of the waters.
In mid-2021, the Angolan government announced the planning and execution of several projects in the province of Cunene, which aim to structurally combat the chronic drought that ravages the south of the country.
The first of the projects we are going to mention is the construction of the water transfer system for the Cunene River, starting from the Cafu region.
This project is divided into two batches, the first of which aims to build a pumping system in the Cunene River, pressurized pipeline, open channel from the locality of Cafu to Cuamato and 10 chimpacas (water reservoirs).
With regard to the second batch, the purpose is to build two water channels, from Cuamato, one (west conductor) going to Ndombondola, with 55 kilometers and the other (east conductor) to the municipality of Namacunde with 53 kilometers
The construction work are being carried out by the company Sinohydro Angola, with an estimated budget of more than 44 billion kwanzas, if we include the two batches.
The start of the execution of this project has already taken place and counts on an environmental pact study that includes a protocol of the Southern African Development Community (SADC), as well as the sharing of information with Namibia.
The Cafu project is expected to be completed in the first quarter of next year, and it will benefit approximately 200,000 inhabitants and 250,000 head of cattle.
The second project that deserves mention is the construction of the Calucuve dam, located in the municipality of Cuvelai. This earthen dam is 19 meters high and has a storage volume of 100 million m3 of water.
The project’s budget is around 177 million dollars, with the company Omatapalo-Mota-Engil as the responsible contractor, and the construction period is 20 months.
The main purpose of the construction of this work is to supply water to the populations, and it is planned to satisfy the needs of more than 80,000 people, as well as meet the needs of approximately 182,000 heads of cattle.
On the other slopes, it will supply water that will allow irrigation throughout the year in an area estimated at 2,600 ha.;
It will ensure the sustainability of economic and social activities in the project area. It will reduce the problem of seasonal water scarcity in the northwestern part of the Cuvelai basin. And finally, to mitigate or prevent damage caused by floods to assets and activities in the local economy in cities located downstream of the dam (Cuvelai Delta area – Evale).
The lead time is 20 months.
As for the third project, the construction of the Ndué dam, it is an undertaking also led by Synohidro Angola, with a construction period of 30 months, and an estimated budget of around 192 million dollars.
It will be a 26 m high earthen dam with a storage volume of 145 million m3 of water, on the Caúndo River upstream of the Ndué.
The main purposes of this project aim to satisfy the domestic needs of approximately 55,000 people, as well as to guarantee the quality of water supply to the population. In addition, it aims to satisfy the needs of approximately 60,000 heads of cattle.
Other equally essential goals are also highlighted, such as:
Provide water to allow year-round irrigation of an estimated 9,200 ha area and ensure the sustainability of economic and social activities in the project area and reduce the problem of water scarcity in the central area of the Cuvelai basin.
Finally, the dam could become an important source of water supply for the province of Cunene.
The execution period is 30 months.
A final note also for the recovery of existing dikes and weirs in the municipality of Curoca, which is 334 kilometers from the city of Ondjiva.
Table 1- General quantifiable benefits of construction work against drought in Cunene
44 M USD
177 M USD
192 M USD
413 M USD
It appears that in addition to providing irrigation and providing increased possibilities for water distribution, these works will directly benefit 335,000 people and 492,000 heads of cattle, costing around 400 million dollars.
The Portuguese participation in these important construction work is relevant. Mota-Engil has a relevant stake (50%) in the consortium that builds the Calucuve dam (Project 1), having won the respective tender. COBA, also based in Portugal, is the supervisor of the Ndúe dam (Project 3). There is thus a significant intervention of Portuguese engineering in these structural projects.
Over the past two years, Mota-Engil has undergone a vigorous restructuring that has been reflected not only in Portugal, but also in Mozambique and Angola. It should be remembered that in mid-2020, the company established a partnership with the Chinese CCCC, which defines its participation of more than 30% in the construction company controlled by the António Mota family.
Shortly thereafter, Mota-Engil obtained a contract in partnership for road rehabilitation and construction in the Lundas with its subsidiary, with a value of around 280 million euros. On that occasion, the company underlined that it would reinforce its order book in the market, seeking to maximize the use of the assets that the group has in the country.
https://www.cedesa.pt/wp-content/uploads/2021/11/cunene-barragem.jpg355620CEDESA-Editorhttps://www.cedesa.pt/wp-content/uploads/2020/01/logo-CEDESA-completo-W-curvas.svgCEDESA-Editor2021-11-16 14:56:002021-11-09 20:03:05Structural combat against drought in southern Angola: the case of Cunene
0-Introduction. A different focus for Angolan economic analysis
The consulting companies that are dedicated to the study of the Angolan economy follow a conjunctural methodology in which the predominant narrative is based on the negative numbers about the macroeconomic aggregates and their possible perspectives.
However, a more detailed analysis of the evolution of the Angolan economy suggests that behind the numbers of inflation, unemployment, GDP growth and public debt, which are not very encouraging, a series of public political reforms are taking place together with the reinforcement of certain economic trends that will indicate the construction of a new, more positive economic reality for Angola.
This study deals with the positive elements that point to the correction of the direction of the Angolan economy in a sense more consistent with the necessary prosperity.
A-Positive trends in the Angolan economy
1-The International Monetary Fund (IMF) and public policy reform
A first element that allows to shed a different light on the perspectives of the Angolan economy lies in the recent assessment carried out by the IMF. In fact, on January 11, the IMF Executive Board concluded the fourth review of the Extended Fund Mechanism Agreement for Angola and approved the disbursement of an additional USD 487.5 million.
The important thing in this decision is the IMF’s positive assessment of the reform of Angolan public policies. The IMF states that: “The [Angolan] authorities achieved a prudent budgetary adjustment in 2020, which included gains in non-oil revenues and containment of non-essential expenses, while preserving essential spending on health and social security networks. The approval of the 2021 budget in December consolidates these gains. The authorities have also allowed the exchange rate to act as a shock absorber and have begun to implement a gradual shift towards monetary restraint to face increasing price pressures ”.
According to what the IMF explains, the economic policy followed by the Angolan government is developed in the following vectors:
-The stabilization of public finances, which is the cornerstone of the authorities’ strategy. In this regard, the government achieved a strong fiscal adjustment in 2020. In addition, its budget for 2021 consolidates non-oil revenue gains and the containment of budget expenditures for 2020, while protecting priority social and health expenditures.
These advances help to reduce the budget’s dependence on oil revenues.
– Reformulation and management of public debt. The government has implemented debt profile reform agreements, in addition to benefiting from the extension of the Debt Service Suspension Initiative until the end of June 2021, which will provide significant debt service relief and help reduce risks related to debt sustainability. We will elaborate below on the reformulation and management of public debt.
-Restrictive monetary policy and exchange rate easing. After easing the monetary constraint to mitigate the shock of COVID-19, the National Bank of Angola (BNA) began, once again, to face the increase in inflationary pressures through the tightening of monetary policy. A more gradual tightening of monetary policy is needed to reduce inflation. Exchange rate flexibility served as a valuable buffer during the crisis. Efforts are underway to develop a liberalized foreign exchange market.
-Reform of the financial sector. Continued progress in financial sector reforms was critical, especially the completion of the restructuring of the two struggling public banks. The timely adoption of the revision of the BNA Law and the revision of the Financial Institutions Law is the key to continuing this progress.
Finally, the IMF highlights the fundamental aspect that underlies all political reform, which is the maintenance of the fight against corruption.
What can be seen clearly from this IMF assessment is that the government is pursuing a reformist policy based on the assumptions made by this international organization, and is implementing difficult reforms.
It is known that many of these IMF policies have an initial recessive effect, especially fiscal consolidation when it involves raising taxes and cutting wages and subsidies, as well as restrictive monetary policy to fight inflation. It is therefore no wonder that the first result of adopting IMF policies is recession and not growth.
What is expected is that this “housekeeping” creates the conditions for a sustained and virtuous growth of the Angolan economy.
Fig. Nº. 1 – Economic policies of the Angolan government celebrated by the IMF
2-Management and careful reformulation of public debt
The executive followed an appropriate strategy when initially negotiating with China the issue of public debt. As we described in previous reports, the Chinese debt is key to Angola, as it represents about 50% of external commitments. Consequently, it was important, first of all to ensure the appropriate terms with China, although they are not public knowledge, apparently imply a three-year suspension of payments agreement. The adherence already mentioned to the IMF’s debt suspension program allowed the government room for maneuver. It should be noted that the Eurobonds on which a lot has been written and pointed out various dangers, has a smaller weight in the total Angolan debt, around USD 8 billion, thus not having, on the contrary, what one could think of exaggerated pressure on Angolan finances in this area.
So, for now, the issue of public debt pressure seems to be eased and within the government’s management capacities.
3-Meridian oil price recovery
As we had also anticipated, after an abrupt drop in the price of oil at the beginning of the pandemic (March 2020) there would be a rise, which is gradually happening.
The reality is that following a trend that was already very clear at the end of the year, the barrel of brent finally reached a price above $ 55, a value that had not been reached since the end of February 2020, the month before the start of the pandemic. Still being the most relevant indicator for the Angolan economy, and considering that the budget for 2021 was calculated based on USD 33 per barrel, we have a financial margin of more than USD 20. This is an additional “cushion” in the management of Angolan public finances.
It is clear that it is not known for how long this rise in the price of oil will continue. The commitment of the new Biden administration to the Paris Agreement, the evolution of the Chinese economy, the decision to cut or increase production by Saudi Arabia and the maintenance of the restrictions resulting from the Covid-19 pandemic are factors that may imply a further decline in the oil price.
Therefore, movements in the oil price are always unknown and these moments of increase must be used by the government to reinforce its reserves for future reproductive and social investments.
Fig. No. 2- Evolution of the Brent price since February 2020
4-Decrease in imports of food basket and agricultural production with continental relevance
The diversification policy combined with the promotion of the national industry through the substitution of exports has been another “motto” of this government. This policy allows in one fel swoop to reduce external dependency and create a thriving national industry.
While it is still untimely to draw any definitive conclusions about the results of this policy, some figures emerge that can be encouraging, at least in relation to the dependence on imports and foreign exchange spending on foreign trade.
According to data provided by the Ministry of Industry and Trade, Angola managed to record a reduction of almost US $ 100 million in the import of products from the basic basket and other essential goods in the last month of 2020, compared to the same period in December 2019. In December 2019, the Government disbursed US $ 250 million for imports, while in the same period of 2020, it only spent US $ 152 million.
In particular, it is worth noting the reduction in sugar imports, which went from 2.1 million tons in 2019, at the cost of 17.6 million dollars, to 1,472 tons, at the cost of 831,121 dollars. Regarding the importation of current rice, in 2019 Angola imported 136,985 tons in the amount of US $ 37.2 million and in 2020, only 59,505 tons, in the amount of US $ 10.5 million. In what concerns chicken (the most consumed meat in Angola), it is also worth mentioning a considerable reduction, compared to 2019. In that year, 46,385 tons were imported, for US $ 51.5 million, whereas last year, only 32,447 tonnes were acquired, for a value of just over US $ 25 million.
Fig. Nº. 3- Comparison of annual imports of basic basket products (Dec.2019 / 2020 in USD million)
These are just some of the products highlighted in the considerable reduction in imports, however this trend has proved to be general in the remaining products that make up the basic basket.
For these numbers to be considered a success, it is necessary to compare them with the internal consumption of the same goods, and understand if the decrease in imports was due to a substitution by domestic products or only reflects a decline in demand as a result of the economic crisis.
In the latter case, although they represent savings in foreign exchange, they do not mean a success in politics, but a decrease in the quality of life of the population. However, even in this situation, national investors should be alert to proceed with investments in these areas in order to correspond to future demand growth.
Statistics published by the Angolan Ministry of Industry and Trade and released by the Portuguese news agency Lusa show the enhanced sustainability of some Angolan agricultural production.
Angola asserts itself as a continental-level agricultural producer. Angola is the largest African banana producer and the seventh in the world with an offer of 4.4 million tons, according to the latest table of the United Nations Food and Agriculture Fund (FAO). It should be noted that the banana continues to be the most produced and consumed fruit in the world. Angola, in particular, has declared itself self-sufficient in banana production for more than six years, with emphasis on the provinces of Bengo and Benguela. In these provinces, private companies already export the fruit to countries such as Portugal, Zambia, Democratic Congo and plan to bring the fruit to the United States, the world’s largest consumer.
In relation to cassava, Angola has an annual production estimated at more than 11 million tons of cassava, being today the third largest producer in Africa, after Nigeria and Ghana, and wants to bet on its transformation into starch.
5-New investments and exports. Two examples: Rio Tinto and Gold
The finance minister recently told Reuters: “We are building a future (through our reform program) that prioritizes direct investment (not just with China, but with other partners). We want to add value for our economy to create jobs. We want the money to stay. Borrowing is an option, but we are trying to change the way we relate to our partners ”.
Thus, it appears that the government is betting on direct investment to revive the economy and also to increase exports.
There are two recent examples that are important to underline in this context. The first is the entry of the powerful multinational Rio Tinto into the Angolan market. Apparently, such a perspective will materialize this year.
Also important is the first export of gold mined in Huíla in 2020, in the amount of sixteen hundred and ninety-six ounces sent to Portugal and the United Arab Emirates, which corresponds, at the current price, to more than three million dollars. Obviously, what is relevant is not the amount of gold exported, but the beginning of a trend. As with the entry of Rio Tinto, it is important to mark a trend that brings other big investors like Anglo-American or DeBeers.
None of these investments is very firm yet. Their reference is important because they can represent future axes for the development of the Angolan economy, now in the beginning.
Fig. nº 4 – Signs of optimism in the Angolan economy
B-Necessary policy adjustments
The foregoing demonstrates that the Angolan government pursues an economic reform policy based essentially on the IMF’s revenues: i) budgetary balance and debt control, considering financial solvency as a sine qua non for economic growth; ii) restrictive monetary policy to control inflation; iii) flexible exchange rate policy, allowing for a devaluation of the currency that encourages exports and hinders imports; iv) investing in investment and the private sector as engines of the economy.
Basically, the policy followed corresponds to what was once called the Washington consensus. This is the standard reform package adopted by the IMF, World Bank and the US Treasury Department since the late 1980s and which corresponds to a liberal model of the economy, based on fiscal prudence and the free market.
Naturally, this model has potential for Angola, but it is not enough. There are not strong enough institutions in Angola yet to guarantee the functioning of a free market in which some do not end up dominating others and creating oligopolistic and inefficient situations, as there is not a private sector strong enough to become the engine of the economy.
Making Angola’s economic reform dependent on reforms inspired by the Washington Consensus is not enough, a broader view is needed.
This broader view should imply structural institutional reform. This means that property rights must be clarified by abandoning the confusion that the collectivization of property has generated and still generates, courts must be put in place, bureaucracy is no longer an obstacle, and obviously great corruption must be eradicated. In addition to structural institutional reform, it should be realized that the State has a role to play in this new phase. There is no robust private sector in Angola, nor can everything be delivered to foreign investors with short-term perspectives. A mix should be found between the state and the private sector. In fact, this is how the most advanced Western countries work, despite rhetoric. It is important to adopt the concept advanced by Mariana Mazzucato of Entrepreneurial State.
The point to consider in economic reform in Angola is that the role of the government, in the most successful economies, went far beyond creating the right infrastructure and setting the rules. The State is a fundamental agent to achieve the type of innovation that allows companies and economies to grow, not only by creating the “conditions” that allow innovation. Instead, the state can proactively create a strategy around new areas of high growth before the potential is understood by the business community by financing the most uncertain phase of research in which the private sector is risk-averse, seeking new developments, and often even supervising the marketing process.
In addition, the IMF’s recessionary policies, while necessary, must be offset by other types of policies that alleviate the socially depredating burden of those. In short, there must be a mix of reformist policies that is more comprehensive and adequate to Angola, so that in the end the first flashes of success have sustained results.
It is necessary to look beyond the negative conjuncture numbers of the Angolan economy and understand that there is a reformist economy policy that is beginning to bear fruit and to mark some new trends. This policy has been applauded (and possibly advised) by the IMF, and here lies its strength and weakness. Strength because it contains some indispensable measures to clean up the Angolan economy and launch it on the path of growth. It also strengthens because its adoption and implementation brings the praise and support of the IMF and sister organizations. However, this policy also has weaknesses, including the lack of attention to institutional reform, the weakness of the private sector in Angola, the recessive effects of contractionary policies, among others.
Consequently, with signs of optimism in the medium-term perspectives of the Angolan economy, it is necessary to improve the economic policy that is being followed, including the intensification of institutional reforms that ensure that the judiciary works, bureaucracy does not hinder, corruption does not divert resources. In addition, the role of the State as an entrepreneurial partner in the private sector should be reviewed.
 See the most recent figures: Unemployment 34% (III quarter 2020), Annual inflation 25.19% (December 2020 / December 2019), GDP growth -5.8% (III quarter 2020) at https: // www. ine.gov.ao/
https://www.cedesa.pt/wp-content/uploads/2021/01/otimismo-economia-2.jpg10801920CEDESA-Editorhttps://www.cedesa.pt/wp-content/uploads/2020/01/logo-CEDESA-completo-W-curvas.svgCEDESA-Editor2021-05-12 18:51:492021-05-12 18:51:51Flashes of optimism in the Angolan economy at the beginning of 2021
It is encouraging
the effort that the Angolan authorities are making to liberalize the economy
and make it competitive in the middle of the storm that hit the world, with
serious consequences for Angola.
A first measure
announced is of particular importance for the creation of a favourable and
stimulating business environment in Angola.
COMMERCIAL PERMIT AND STATISTICAL REGISTRATION
information made public, within the scope of measures to simplify business
bureaucracy and to deal with the economic slowdown eventually caused by Covid
19, the Government “intends to revoke the procedure for issuing the business
license for all economic activities and the obligation of companies to carry
out statistical registration in the act of incorporation.” Of course, some
exclusions from this free regime are foreseen, such as those related to the
trade in foodstuffs, live plant species, animals, birds and fishing, medicines,
car sales, fuels, lubricants and chemicals.
apart from these sectors, the need for issuing a business license by the
central administration is canceled.
This step, and
as long as it is not replaced by another, is very important and has a clear
Do not forget
that, according to the World Bank Report “Doing Business 2020”, which analyzes
the position of countries in the world regarding the ease of doing business and
generating wealth, Angola ranks 177th out of 190 nations. Consequently, at the
end of the list.
It is clear that
there is an urgent need to facilitate business and entrepreneurial initiative
in Angola, so it is imperative that the State promotes the business environment
in the country. One of the problems detected by the World Bank Report was the
delay between 14 and 45 days to obtain a permit from the Ministry of Commerce
to start business activities in Angola. This requirement would have a
historical justification linked to the industrial conditioning policies of the
Portuguese Salazar colonial regime, carried on by the Soviet leaderships that
prevailed in the 1970s and 1980s. However, at present, the existence of Licences
is an obstacle to internal free trade and country empowerment business
For this reason,
we must emphasize and applaud this decision to abolish the need for commercial
As for the
statistical registration, it is now carried out with the tax identification
number. Another positive simplification measure.
positive fact to note is the continuation of the privatization process, despite
the shutdown of activities derived from Covid 19.
belonging to the Angolan state have recently been privatized. This was the
Camaiangala Agro-industrial Farm, located in the province of Moxico, with an
area of 19 thousand hectares, with a grain processing factory and a structure
for livestock; the Longa (Cuando Cubango), Cuimba (Zaire) and Sanza Pombo
(Uíge) and Modular Slaughterhouses in Luanda, Camabatela and Porto Amboim, the
Catete Silos Complex, the Caxito Cold Warehouse and from the Caxito Tomato and
Banana Processing Factory.
In the case of
small or medium-sized structures, the important thing, in addition to the
revenue brought to the State, is that these sales demonstrate the Government’s
commitment to proceed with the privatization process in a crescendo until
reaching the large Angolan companies and Blue Chips. This procedure allows to
test the multiple privatization processes and methods in smaller series,
refining the administrative and decision-making machinery in order to
The relevance to
be retained from this information is the Government’s strong commitment to
pursue a policy of effective market implementation, promotion of
entrepreneurship and privatization. Thus, the country will lay down the roots
for the structural success of the economy in the medium term.
https://www.cedesa.pt/wp-content/uploads/2020/04/Good-News.png438775CEDESA-Editorhttps://www.cedesa.pt/wp-content/uploads/2020/01/logo-CEDESA-completo-W-curvas.svgCEDESA-Editor2020-04-20 09:10:572020-04-20 09:21:03An overview - Two good news for the Angolan economy: Abolition of the Business Permit and the materialisation of privatizations
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