Luanda — Angolan government has said it will pay arrears for companies with certified debts worth less than 150 million kwanzas, the Finance Ministry (MINFIN) said in a statement.

It will cover companies with no irregularities such as the need for approval and asset registration with certified debts pending payment available, with a cutoff date of December 15, 2023.

The initiative aims to ensure greater transparency in the arrears settlement process and discourage the practice of actions that harm the national business community.

As for companies with irregularities, namely debts not approved by the top manager of the Budget Unit (Minister or Governor) and debts falling into the category of assets (movable or immovable), without the asset register and inventory form, will receive no payment until the situation is regularized.

MINFIN calls on service providers to contact the Budgetary Units to collect information on the level of evolution of the respective processes and remedy any non-conformity found.

The Ministry of Finance clarifies that information on overdue domestic debt will not be provided when the applicant's legitimacy to access it cannot be proven, and discourages all types of practices that jeopardize the smooth running of the arrears settlement process. CLAU/AC/CF/AMP