The government of Angola creates Institute for State Asset and Holdings Management

20 June 2018

The newly created Angolan Institute for State Asset and Holdings Management (IGAPE) will manage the state’s financial assets and holdings, and will also carry out the privatisation and restructuring programme of the corporate public sector, according to a presidential order.

The order, which approves the organic statute of IGAPE, also determines that the Institute will keep up-to-date information on shareholdings, exercise the rights of the State as a shareholder and develop policies for management of holdings.

IGAPE also has the responsibility to manage the assets and loans granted by the State, to follow up on credit lines granted to other countries and national institutions, to follow the negotiation process of lending to other countries, safeguarding strategic interests and manage the States returns on loans.

The President of Angola recently said in an interview with French newspaper L’Opinion that some Angolan public companies operating in the oil and gas sector would be included in the ongoing privatisation process in the country.

Last February Lourenço created the Commission for Preparation of the Implementation of the Privatisation Process in Reference Companies, which was charged with presenting the programme to be executed by the government in this area, to increase efficiency and reduce the costs of the state sector. (macauhub)