The fish sold in 2018 by Angolan state-owned company Empresa Distribuidora de Produtos de Pesca (Edipesca) fell to 250 tonnes, compared with an average of 2,500 tonnes in previous years, the company’s director-general said.
Rafael Pascoal told Jornal de Angola that the fall in sales was due to the fact that the infrastructure the company has is already very old, as it was built in the 1950s, financial issues and its disorganisation .
However, the director-general warned that the company will be subject to a recovery plan under a US$57 million loan signed in July 2018 between the Angolan government and the South Korea Exports and Import Bank.
Pascoal also said that the recovery process should begin in the first quarter of 2019, focusing on the repair of the building in which Edipesca has an installed capacity of 1,800 tonnes of fish and the construction of another one for preserve 3,000 tonnes of fish.
Edipesca was created in 1984, when planned economy model was in place, to hold the monopoly on the distribution of fish to the northern and eastern regions of the country.
In 1991, because of the change in the political and economic framework (multi-partiy system and market economy), the company underwent privatisation under a divestiture scheme which lasted until 2004, when the Ministry of Fisheries took on responsibility for the company, with the aim of taking on the role of regulator of the fish market. (Macauhub)