Debts owed to port of Lobito, in Angola, exceed gross revenues

27 March 2013

The companies and organisations that se the port of Lobito owe the port 9.2 billion kwanzas (US$74.3 million), which is more than the Port of Lobito’s gross revenues, said the chairman of the port company, Anapaz de Jesus Neto.

According to Angolan news agency Angop, Neto, who was speaking Sunday at a ceremony to mark the port’s 85th anniversary, said that in 2012 the company had gross revenues of 9.1 billion kwanzas.

Without giving details of the debts, Neto said that although the Port of Lobito was able to fund itself, third party debts were still a concern.

“We are going to make efforts for companies that owe, whether they be State or private, pay off their accounts, so the port company can meet its own obligations,” he said.

The port of Lobito, over the last few years has benefited from modernisation and expansion costing 120 billion kwanzas (US$970 million), which have improved operations, particularly loading and unloading ships.

In 2012, the port received 579 ships (as compared to 708 in 2011), and 2.9 million tons of miscellaneous cargo was handled, which was a rise of 4 percent on the previous year.

The port of Lobito was founded on 24 March 1928 and is part of the Lobito Corridor, which is an important regional transport route, along which a significant amount of imports and exports of the member countries of this corridor can be processed. (macauhub)