Angolan government considers closing companies at risk of insolvency

22 September 2014

Forty-one public companies at risk of insolvency in Angola are being evaluated by the Economy Ministry and some may be terminated to avoid continued waste of public resources, the secretary of State of Economy said in Luanda.

Laura Alcântara Monteiro, who spoke at the end of the meeting of the Committee fro the Real Economy of the Council of Ministers, said the extinction of some of these units should be one of the solutions but that analysis work was still underway and should be completed in the coming weeks.

The Secretary of State said that the work included resolving legal and employment issues, after which the government will “deal with the companies that need to be restructured, re-sized and privatised.”

The discussion of the state of public companies at risk of insolvency is still not complete and will, therefore, be up for discussion again by the Committee for the Real Economy in upcoming meetings. (macauhub/AO)