Angola: Government Recovers Real Estate Valued At More Than Usd Billion

16 October 2023
Angola Press Agency (Luanda)

Luanda — The President of the Republic, João Lourenço, announced on Monday the recovery of real estate valued at US$1.7 billion as part of the Fight against Corruption from January to September 2023.

In his Message on the State of the Nation, on the occasion of the Opening of the Parliamentary Year 2023-2024 of the 5th Legislature, the Angolan Head of State reiterated that the fight against corruption and the process of recovering state assets remain at the top of the country's agenda.

He said that 267 cases and 122 enquiries had been launched to investigate evidence of economic and financial crimes, of which 109 cases had been lodged with the courts of ordinary jurisdiction, 51 of which with the Supreme Court.

As for shareholdings in recovered companies, the data point to about USD 800,000,000.00 (eight hundred million US dollars) and financial resources in the amount of USD 133,309,366.00 (one hundred and thirty-three million, three hundred and nine thousand, three hundred and sixty-six US dollars).

Still, this year, Real estate, shareholdings and monetary amount valued at around USD 1,000,000,000.00 (one billion US dollars) have been seized and/or confiscated in Angola and abroad.

According to official figures, Angola has so far recovered USD 7.6 billion as part of the process of fighting corruption and recovering assets.

Part of this money has been used in the Municipal Investment and Intervention Programme (PIIM), to build schools and other infrastructure.

However, there are more than 12 billion dollars seized, i.e. under arrest. FMA/SC/ADR/DAN/DOJ

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