Two more buildings of the China International Fund seized in Angola

18 February 2020

The CIF Luanda One and CIF Luanda Two buildings, located in the urban district of Ingombota, in the municipality of Luanda, have been seized by the Angolan authorities, said on Monday in a statement the Attorney-General of the Republic of Angola (PGR).

The buildings owned by the Chinese-owned Angolan company China International Fund Limited were seized under the Law on the Coercive Repatriation and Extended Loss of Assets and the Regulatory Law on Searches and Seizures.

Following the procedure, the PGR has appointed the Ministry of Land Planning and Housing as the trustee of the two buildings.

The move followed a process that culminated in the seizure of more than 1,000 unfinished properties, buildings, work yards and land, in the Vida Pacífica (Zango Zero) urbanisation and in Kilamba.

The buildings were in the possession of the China International Fund CIF, Limited (CIF Hong Kong) and China International Fund Angola – CIF, Limitada.

CIF Limited is a private company with headquarters in China and Hong Kong and an office in Beijing, founded in 2003, to finance projects for national reconstruction and development of infrastructure in developing countries, especially in Africa. (macauhub)