Bankrupt public companies in Angola to be closed

1 December 2014

Public companies in Angola that are technically bankrupt will be closed, Angola’s Minister for Construction, Waldemar Pires Alexandre, said in Catete cited by state-owned newspaper Jornal de Angola.

The minister said that the decision arose from a joint effort of the Ministry of Construction and the Ministry for the Economy, through the Public Business Sector Institute, which led to drafting of the document that was submitted to the Commission for the Real Economy of the Council of Ministers.

During the Advisory Council of the Ministry, which took place in the town of Catete, Pires gave assurances that the interests of the employees of the companies that will be closed would be duly protected and safeguarded.

Speaking specifically about the construction industry, Pires said that his ministry would replace companies that do not meet the agreed deadlines stipulated in contracts that were signed.

“There is an ongoing process of restructuring the contracts in which we detected serious technical and administrative irregularities, including the inability of some contractors to carry out the work,” the minister said. (macauhub/AO)