Timber warehouses in Angola start generating revenue

31 January 2019

Angolan companies exploring forest resources in just three months exported products worth US$19 million through the Luanda Timber Warehouse, the Minister of State for Economic and Social Development said.

Minister Manuel Nunes Júnior, at the end of a visit to the warehouse located in the municipality of Icolo and Bengo, said that before it was set up. “nothing entered the State’s coffers as a result of wood exports.”

Nunes Júnior aid that, because wood is abundant in the country, “it is important that we take care of the organisation of the production and sale of the product so that we can make the maximum income, not only in financial terms, but also in terms of job creation, which is another very important aspect for us.”

The minister of State for Economic and Social Development recalled that although the Luanda Timber Warehouse is still not fully operational, in three months it “managed some important achievements in terms of financial resources for the country.”

Cited by Jornal de Angola the Minister of Agriculture and Forestry, Marcos Alexandre Nhunga, said that until a year ago “almost nothing was collected because the timber sector lacked organisation,” and recalled that similar warehouses are being built in the provinces of Bengo, Kwando Kubango, Moxico, Benguela and Cabinda.

The Secretary of State for Forest Resources André Moda announced in August 2018 the construction of six warehouses for forest products to receive all timber production, both from concessions and from semi-industrial units.

The new legislation for the timber sector sets out that for export operations, a letter of credit or proof of transfer issued by a bank abroad in favor of the exporter’s account must be presented at a bank domiciled in Angola. (macauhub)