Angola hires Rotschild & Co. to support FDI fund and financing

 

Angola is hiring the Rotschild & Co. group to support the creation of a Foreign Direct Investment fund and financing of specific projects.

According to a Presidential decree of 6 January, the Ministry of Finance is authorized to register the project in the Public Investment Program (PIP) and ensure the availability of the financial resources necessary for the proper execution of the contract, valued at EUR 480 thousand.

The decree points out the “need to acquire international financial consultancy services to assist in the creation of a Fund for the Capture of Foreign Direct Investment and the financing of specific projects”, a statement from the Angolan government adds.

Angola 2.4% GDP growth forecast for 2022 likely “optimistic”

Last year, the president of Rothschild Group, Thibaud Foucarde, announced his intention to open an office in Luanda and make investments in the country, during a meeting with President João Lourenço, in Paris.

Speaking in a press conference last week, Lourenço said that a credit line with Deutsche Bank, valued at EUR 1 billion, with sovereign guarantee of the Angolan State, is open to the private sector, but that only one company, Leonel Carrinho, benefited from EUR 200 million for its projects. ” There are still 800 million available”, the Angolan president added.

Lourenço also said that the Government is committed to sell “many of its assets, as it understands that this space should be occupied by the private sector”.

Other articles

Angola

Ji Xianzheng is Macau Forum´s new Secretary General

Angola

Angola presides African Petroleum Producers’ Organization in 2022