Africa-Press – Angola. The Angolan State has revoked the contracts for the sale of six assets signed with three companies, due to definitive non-compliance with the conventional payment obligation on the part of the contractors, the Government informed yesterday.
A note from the Institute for the Management of State Assets and Participation (IGAPE), cited by Lusa, states that the contracts with the Edson Drov’s group were terminated, for two assets, namely the tomato and banana processing factory in Caxito and the Entreposto Frigorifico de Caxito, both in the province of Bengo.
Terminations also took place with the company Jep Capital, for the industrial unit Indutubo, and with Angola All Box, with three assets, the industrial units Induplas, Indutive and Pipeline.
According to IGAPE, with the termination of these contracts, new tenders will be relaunched, enabling the award of these assets by private entities with the financial capacity to execute them, reducing, on the one hand, the current level of non-compliance and, on the other hand, ensuring the revenue collection.
“This measure reinforces the position of the State, which through the Privatization Program (Propriv 2019-2022), took the initiative to resize the public business sector, by promoting conditions for private initiative and consequently boosting the national economy”, highlights the document.
The Secretary of State for Finance and Treasury, Ottaniel dos Santos, informed last week, at the end of a meeting of the National Interministerial Commission for the Privatization Programme, that some installments are overdue, totaling AOA 15.1 billion.
“The treatment that is given to all processes that have already been completed and with payment delays is systematic”, said the Angolan official, stressing that companies are contacted to cover the commitment assumed within the deadlines agreed with the State, whose non-compliance takes to other steps “which may lead to the termination of the contract, that is, reversal of the asset in favor of the State for a new reprivatization”.
For More News And Analysis About Angola Follow Africa-Press
