Angolan government creates public fund for housing development

18 September 2015

The government of Angola has created a public fund to ensure the implementation of the national housing construction programme, according to a presidential order of 25 August.

The creation of the Asset Fund for Housing Development (Fadeh) is explained in the order as seeking to “boost the sector” and “create a model of more efficient and sustainable management” for the State in economic and financial terms, according to Portuguese news agency Lusa.

This Fund, which “needs to raise bank credit to secure financial resources to fund housing projects with a sovereign guarantee,” will take over public real estate assets such as housing, business premises and plots for construction, overseen by the Ministry of Finance.

Apart from this newly-created fund at the end of 2014 the Angolan government handed over management of construction and sale of these houses as part of a social policy for the sector, to Imogestin, which is still in operation. (macauhub/AO)