Three textile factories in Angola put up for privatisation in April

20 February 2020

The three textile factories in Angola built using public funds in the provinces of Luanda, Kwanza Norte and Benguela will be privatised through an international public tender to be launched in April, said the Angolan secretary of state for industry.

The factories are Nova Textang II (Luanda), África Têxtil (Benguela) and Satec (Kwanza Norte), and State Secretary Ivan Prado said that the conditions required for their privatisation had been met, so that “within two months the international public tender will be launched.”

The government of Angola, under an agreement with the Japan Bank for International Cooperation (JBIC), invested a total of US$1.2 billion, of which US$251 million was invested in Nova Textang II and US$420 million apiece in África Têxtil and in Satec.

“Nova Textang and other units were privatised in 2013 by the Ministry of Industry, through the Institute of Industrial Development of Angola, in a public tender in which the Ministry had no powers, due to the level of investments,” explained the secretary of state.

The textile units are at a standstill, including Textang II, which has a production capacity of 250,000 linear metres of fabric per month.

The President of the Republic, who on Wednesday visited Nova Textang II, a textile factory recovered between 2009 and 2013, said his visit had been a long time coming and added, “I think it is criminal to leave these units at a standstill in their current state,” according to the Angop news agency.

These factories were seized by the Attorney-general of the Republic in June 2019, as a result of irregularities in their privatisation process and non-compliance, by the new owners, with the contractual clauses, particularly in financial terms. (macauhub)