Africa-Press – Angola. Economist Fernando Chimboto appealed Wednesday in Luanda for the responsibility and ethics of business owners whose establishments were targeted by vandalism and looting during the three-day taxi drivers’ strike, between July 28th and 30th.
In statements, he argued that economic agents should avoid compensatory measures based on current product stocks as a way to recoup financial losses, warning that such practices could exacerbate price speculation in the national market.
According to official data, at least 162 commercial establishments were vandalized on July 28th, 29th, and 30th during the protests.
The appeal comes as the deadline for submitting credit applications to the Savings and Credit Bank (BPC) begins, under the 50 billion kwanza financing line included in the Executive’s emergency measures to
support affected businesses.
“Business owners must adopt responsible behavior, making honest statements and requesting credit based on actual losses, without resorting to unjustified price increases for products in stock,”
stated the monetary economics and finance expert.
Fernando Chimboto highlighted the authorities’ swift response as an encouraging measure, allowing for the recovery of infrastructure, replenishment of stock, and preservation of jobs.
The economist also warned that acts of vandalism have a significant impact on the national economy, undermining investor confidence and raising doubts about the safety of doing business in Angola.
“Instability in the business environment leads to product shortages, increased costs, and particularly affects the end consumer,” he emphasized.
Regarding the government measures, he considered them advantageous and highlighted the benefits of the financing line, which also includes US$25 million for the acquisition abroad of equipment that the country does not produce.
He also praised the interest rate, the nine-month grace period, and the three months of guaranteed wages to maintain jobs.
According to the economist’s estimates, the most organized commercial operators, especially in the food, restaurant, and beverage sectors, will be able to resume normal operations in less than five months.
He recommended that business owners invest in business security and insurance to guard against unexpected risks in the future.
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