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Angolan President, João Lourenço, Reaffirms Fight Against Corruption

Angolan President, João Lourenço, renewed last Thursday, in Luanda, his commitment to the fight against corruption, stressing that this evil has already damaged the Angolan State by at least US $24 billion.

“We say at least because as the investigations around some ongoing processes and their likely protagonists are taking place, new things are being discovered”, said the statesman, during the message on the State of the Nation.

According to João Lourenço, it is likely that later, much larger numbers will be announced, which in itself already exceeds the value of Angola’s debt to its main creditor.

Government data indicate that, in the context of the asset recovery process, the State has already recovered real estate and money worth more than USD 4.9 billion, of which more than USD 2.7 billion in cash.

The other part, estimated at more than USD 2.1 billion, results from the seizure of real estate, factories, port terminals, office buildings, housing buildings, radio and television stations, graphic units, commercial establishments and others.

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The fight against corruption and impunity is one of the banners of President João Lourenço’s governance.

However, it is part of the government’s measures to ensure the creation of a more favourable environment for private investment.

This fight is being conducted by the judicial authorities, based on the Law on Coercive Repatriation and Extended Loss of Property, approved by Parliament, which has allowed the seizure of several assets built with public funds.

Currently, the State has been preparing the process of selling the assets to private entities.

The State of the Nation Speech was the highest point of the Solemn Session of the opening of the New Parliamentary Year, penultimate of the current legislature (2017-2022).


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