Luanda, Sept. 16, 2025 (Lusa) - Angola's finance minister said on Tuesday that reform of the state business sector is unavoidable, given the chronic dependence of some companies, which "is not sustainable".
Vera Daves de Sousa was speaking at the end of the Annual Meeting of the Public Business Sector (SEP), where global data from around 80 companies was presented.
She emphasised that throughout Angola's 50 years of independence, which is about to be celebrated, the public business sector has played a decisive role in supporting the country's development, but has also accumulated mistakes, vices and liabilities that today weigh on it like a burden.
"At many stages in our history, the state has taken over as the main provider of goods and services, a necessary solution, but one that has generated inefficiencies, accommodations and dependencies, which today struggle with the economy and jeopardise the quality of public services," she stressed.
Vera Daves considered financial sustainability and rationalisation "a national challenge", stressing that the data presented shows that companies "with innovation and discipline" have overcome adversity and achieved decent results, while others remain dependent on capitalisation and state subsidies, draining resources that should be channelled into education and health.
"This chronic dependence is not sustainable. It cannot be accepted. The reform of the public business sector is therefore unavoidable. This is not a bureaucratic exercise or a passing wave," she emphasised.
In 2024, the companies in the Angolan state's business universe had a turnover of 12.8 billion kwanzas (around €11.8 billion, 15.9% more than in 2023), while net profit fell by 13% to 788.4 billion kwanzas (around €726 million).
The minister insisted on the need to ensure that each company under state supervision has a clear purpose, an efficient business model and responsible management.
"It's about ensuring that the efforts of all Angolans, expressed in the taxes they pay, are converted into solid companies, capable of generating value and innovation for the benefit of society," she emphasised.
According to Vera Daves, the focus of reform is clear: rationalise, eliminate redundancies and focus on objectives, and privatise whenever this is the most effective way of ensuring investment, efficiency and sustainability.
"It doesn't have to be all at once. One step at a time. The state cannot continue to be the financier of last resort," she insisted, emphasising that the state must be a firm regulator, a responsible shareholder and an investor in strategic sectors, "but not a permanent firefighter for unviable companies", because "it also deserves and needs the dividend".
She stressed that "reform requires courage, discipline in execution and an epic commitment to concrete results", stating that the Ministry of Finance will continue to lead the process with vigour and transparency.
She also called for the next business meeting to present "not just diagnoses, but more evidence of change", celebrating "less budgetary dependence, more efficiency, more innovation".
"The business sector we want for Angola is robust, competitive and sustainable, capable of being self-financing, providing decent jobs and supporting the diversification of our economy. A sector that is no longer seen as a problem but recognised as sustainable," she concluded.
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