Paradigm Shift: Public Sector Reforms Bearing Fruit
In recent years, Angola has embarked on a transformative journey, implementing comprehensive reforms within its public sector. The overhaul of state-owned enterprises has begun to yield tangible results, with significant improvements in organizational efficiency, service delivery, and governance standards. These changes have positioned public enterprises as crucial agents of modernization and transformation within the national development milieu, as emphasized by State Secretary for Public Administration, Domingos Filipe.
Employment and Economic Indicators on the Rise
A key outcome of Angola’s reforms is the creation of approximately 55,000 jobs within the public sector. In assessing the performance of these enterprises, it is crucial to consider not only their financial outputs but also their strategic significance, societal impact, and contribution to Angola’s broader developmental goals. The reforms have been particularly successful in enhancing the financial health of the sector, evidenced by a 45% increase in equity capital to USD 14.48 million and a 35% rise in total assets to USD 40 million in 2023.
Strategic Vision for Sustaining Gains
The sustainability and further enhancement of these gains remain a priority for the Angolan government. An ongoing evaluation of public enterprises is expected to drive continuous improvement, focusing on efficiency and sustainability. This is imperative to maintain the momentum of progress and to effectively tackle emerging challenges.
Privatization and Investment Attraction: A Forward-Looking Approach
Angola’s strategy also encompasses the privatization of state entities as a means to propel growth and performance. From 2019 to 2023, 96 entities were privatized, generating approximately USD 1.13 billion. The ongoing program targeting 2023-2026 seeks to extend this privatization trend into strategic sectors, aspiring to stimulate economic growth, bolster enterprise performance, and attract private investment.