Africa-Press – Angola. The announcement of the organization of the process of withdrawing price subsidies in different sectors, including fuel, marked the economic news of the week that ends Saturday.
According to the Minister of State for Economic Coordination, José de Lima Massano, who spoke at the first 2024 edition of ‘CaféCipra’, the country “is not limited to just removing gasoline subsidies, for example”, as it still has themes from other sectors, such as transport, electricity and water, are on the agenda.
“We still have a scenario of great concern, but we are not limited to just gasoline and diesel, because we have issues such as transport, electricity and water. Therefore, we are still organizing and in due course we will make possible corrections and share them with everyone,” he stated.
Another noteworthy note that was also announced at CaféCipra is the process of redefining the Strategic Food Reserve (REA), by the Angolan Executive, with the aim of stimulating the increase in national production and exploration of the country’s productive capacity.
On the occasion, José de Lima Massano clarified that the intention is to transform the REA into an incentive mechanism for national producers, who will be able to sell their products to the reserve.
At the event, promoted by the Press Center of the Presidency of the Republic of Angola (CIPRA), the government official reaffirmed that the REA will not be able to import products that the country does not yet produce on a large scale, this task being assigned to the private sector or importers.
On the other hand, and on the same occasion, the Minister of Industry and Commerce, Rui Miguêns, assured that the Government is creating conditions to control and avoid the shortage of wheat flour and, consequently, speculation in the price of bread on the national market..
The president of the Board of Directors of the Private Investment and Export Promotion Agency (AIPEX), Lello Francisco, revealed that the private sector invested, in the last five years, USD 1.7 billion (USD 1 is equivalent to Kz 828), in the production area.
According to the manager, this volume of investment resulted in the implementation of 211 projects in various areas in the country, with emphasis on the manufacturing industry, agriculture and commerce.
Also noteworthy this week was Sonangol’s announcement that confirmed the existence of onshore oil in the Kwanza Onshore Basin, in the Tobias-14 well reservoir.
According to the state oil company, this revelation increases the remaining potential of the Tobias field, and the well’s production capacity will be verified after tests are carried out soon.
Also mentioned last week was the balance of the National Authority for Economic Inspection and Food Safety (ANIESA), during the festive period (15 December 2023 to 5 January of this year), which detected 966 infractions, against 215 frauds registered in 2022.
Another news headline has to do with the Special Economic Zone (ZEE), which now coordinates the regional office of the World Free Zones Organization (WFZO).
This leadership results from the signing of an agreement to set up this organization on the African continent.
On the occasion, the President of the Board of Directors of (ZEE), Manuel Pedro, said that this agreement is the result of ZEE’s internationalization strategy and the implementation of a physical office to boost actions in the southern region of Africa.
Also highlighted this week was the launch of the Interbank Service Company (EMIS) of the direct debit service at ATMs, which allows bank customers to authorize a debit (direct discount) to their account, for recurring payments or installments resulting from the acquisition of goods.
For More News And Analysis About Angola Follow Africa-Press
