In 2022, the total assets of Angola’s Public Sector Enterprises (SEP), which comprises 71 companies, stood at 26.9 trillion kwanzas (equivalent to 32.67 billion dollars), marking a 5.2% reduction from the previous year.
This update was shared by Ednilson Sousa, head of the Public Company Monitoring Department at the State Asset and Equity Management Institute (IGAPE).
The decline was primarily attributed to a minor decrease in oil production by the state-owned company, Sonangol.
Notably, Sonangol represents 57% of SEP’s combined assets, making its performance pivotal to the sector’s overall results.
Regarding SEP’s liabilities, they also experienced a drop, reaching 17.8 trillion kwanzas (21.67 billion dollars) in 2022, a decrease of 13.1%.
Sousa pointed out that currency fluctuations, especially with the appreciation of the kwanza, affected Sonangol’s foreign-currency-denominated assets, impacting the results.
SEP’s equity capital increased by 15.5% from the previous year to stand at 9 trillion kwanzas (9.9 billion dollars).
Additionally, the banking product surged by 74.5% to reach 112.4 trillion kwanzas (136.4 billion dollars).
Out of the 92 companies under SEP in 2022, only 86 were considered public enterprises for the report, with the rest having minor participation.
Of these 86, nine were dormant or halted, thus excluded from reporting. From the active 77 companies, only data from 71 was utilized, as six didn’t report on time.
Companies such as Caminho de Ferro de Luanda (CFL), Gráfica Popular, and Grupo Interactive didn’t submit timely reports to IGAPE.
However, two of the six companies provided their reports after the closure but weren’t included in the final analysis.
Concerning the audit outcomes for the 71 SEP companies in 2022, ten didn’t get their accounts approved, 38 had reservations, and 23 got approved.
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