Angola: Press Release - - Carrinho Group's Right of Reply

27 February 2026
Maka Angola (Luanda)
press release By Grupo Carrinho

PUBLIC CLARIFICATION, RESTORATION OF FACTS AND DEMAND FOR CORRECTION IN THE FACE OF UNSUPPORTED ALLEGATIONS

The Carrinho Group hereby issues a formal public clarification and restores the factual truth in response to statements published by the Maka Angola portal in articles entitled "Carrinho: the Silent Concentration of Economic Power" (23 February 2026) and "The Suspicious Connections of the Carrinho Group" (24 February 2026).

The articles in question contain extremely serious allegations, including percentages and conclusions presented as facts, based on insinuations, unidentified "sources" and inferences, without any documentary evidence, verifiable methodology or effective rebuttal. The Carrinho Group firmly rejects the attempt to turn suspicion into fact through repetition or association.

Furthermore, the publications themselves acknowledge in the text that "there is no evidence" of irregular practices attributable to the Group, but nevertheless insist on conjecture and insinuating constructions. Such an editorial method does not correspond to informed scrutiny; it constitutes public judgement without evidentiary basis, with the potential to cause harm and mislead public opinion, partners and the market.

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The Carrinho Group reaffirms that criticism and journalistic investigation are legitimate. However, editorial freedom does not eliminate basic duties of rigour, namely:

  • Independent verification prior to publication;
  • Citation or display of primary sources (documents, contracts, orders, official reports, award maps, implementation reports, formal audits);
  • Substantial contradiction, with requests for clarification and faithful integration of the response;
  • Clear distinction between fact, opinion, inference and hypothesis.
  • The disclosure of figures ("70%"), operational allegations ("chronic failures") and structural conclusions ("concentration", "dominant position") without documents and without an auditable basis is not an editorial detail: it is the difference between information and mere allegation.

For this reason, the Carrinho Group demands that the portal present, in a complete and verifiable manner, the factual and documentary basis for each statement published as a "fact." In the absence of such support, maintaining the allegations constitutes reckless and objectively harmful editorial action.

  • The article states that, in the case of Strategic Food Reserve (REA), "there was no accountability." This statement is inaccurate. The Carrinho Group clarifies, unequivocally, that the management associated with REA ended with accountability, under the applicable terms and with the competent authorities, through the established channels.

Furthermore, "accountability" should not be confused with the "media publication" of internal information. The attempt to equate the lack of public exposure of internal documents with the non-existence of accountability is an undue conclusion, logically invalid and unfounded.

  • The article states that the Carrinho Group controls "about 70 per cent" of the logistical supply of the Ministry of the Interior and the General Command of the National Police. The Carrinho Group declares that this allegation is false.

The Group demands that the portal present, with a minimum degree of verifiability:

  • The basis of calculation and methodology adopted;
  • The entire universe of contracts considered and the time period;
  • Inclusion/exclusion criteria; and
  • The primary documents supporting the percentage.

To date, no official maps, complete list of awards, implementation report or equivalent document has been displayed to support, validate or allow for auditing of the figure disclosed.

  • The text invokes "chronic failures" in supplying the FAA based on unproven "internal complaints".

The Carrinho Group clarifies that there is no official statement from the Angolan Armed Forces or the Ministry of National Defence confirming the narrative disclosed, nor has any supporting evidence (official report, formal notification, public audit, minutes, deliberation or institutional file) been presented.

In matters of strategic supplies and institutional security, allegations of this nature are not published as facts without documentary evidence: this is not transparency; it is irresponsibility.

  • The article seeks to induce the perception of a "dominant position" and systemic risk in the banking sector. The Carrinho Group clarifies that it does not hold a concentration in the national banking system, nor does it exercise dominance or systemic control over the sector. The participation of one of the family's holding companies (Congolian) in the sector as a whole is minority and does not constitute a dominant position.

The thesis of "capture" or "domination" would require objective demonstration with technical indicators (asset shares, deposits, credit, concentration metrics, systemic exposure and methodology), elements that the portal did not present.

  • The second article suggests suspicions and associations regarding Paramount Energy & Commodities in the context of financing the Industrial Complex.

The Carrinho Group categorically states that there is no direct formal or informal link between the Carrinho Group and Paramount for the financing of the construction of the Industrial Complex.

Insinuations to the contrary, unaccompanied by contracts, relevant corporate records, financial documents or official statements from the parties, constitute unsubstantiated allegations.

  • A sovereign guarantee is a legal and financial instrument in which the State undertakes to provide coverage only if a contractually defined event occurs. It is not synonymous with ownership, shareholder control or interference in management. It is a common instrument in project finance to enable structural investments.

In the case of the Carrinho Group:

  • There are two sovereign guarantees associated with the development of two manufacturing units;
  • The grace period has ended and the Group has already begun to fulfil its contractual obligations, under the agreed terms.

The attempt to turn a normal financial instrument into "evidence" of irregularity is technically incorrect, editorially misleading, and intellectually dishonest.

  • Some passages seek to induce the idea of irregularity simply because the Carrinho Group does not indiscriminately publish consolidated financial statements to the public. This inference is legally inappropriate and factually misleading.

Under Law No. 1/04 of 13 February (Commercial Companies Law), the central obligation of commercial companies is to report on their management and present their accounts, i.e. to prepare and submit the management report and accounts to the competent bodies of the company within the applicable deadlines and terms (e.g. Article 70).

The same law establishes, with regard to publicity, that mandatory publication refers to acts subject to registration, through publication in the Official Gazette, and does not establish a general and indiscriminate obligation of annual public publication of accounts for unlisted private entities (e.g., Articles 166 and 167).

Put simply: accountability is an obligation; general public publication of accounts is not a universal duty under the common corporate regime, except in the case of entities subject to special regimes, namely public companies and issuers of securities, for which there are specific duties to disclose information and make available accounting documents under the terms applicable to capital market regulation.

Regardless of the public disclosure regime, the Carrinho Group reaffirms that it has been audited annually by international consulting firms also known as BIG FOURs, independent firms with a presence in Angola, based on international criteria, consistently since 2007, and in the last two years, no audit reservations have been placed on its accounts. Consequently, it is illegitimate and editorially abusive to suggest a "lack of scrutiny" or "opacity" based on an obligation that the law, in the general framework applicable to unlisted private entities, does not impose as a rule.

  • The Carrinho Group is a family-owned business structure, with ownership of the share capital, effective control and strategic management power exercised exclusively by members of the Carrinho family. There are no qualifying holdings by independent third parties, nor are there any beneficial owners outside the family, either directly or indirectly, under the terms applicable to the identification of ultimate beneficial owners (UBOs).
  • With regard to Manty AG, it is expressly stated that there is no group, control, affiliation or control relationship, direct or indirect, between the Carrinho Group and that entity.

The Carrinho Group does not hold any shares in Manty AG, does not exercise any dominant influence, does not have any special voting rights, nor does it have any contractual or statutory mechanisms that allow it to determine the financial or operational policies of that company.

Consequently, and in accordance with the control criteria established in the applicable international financial reporting standards, namely IFRS 10 (Consolidated Financial Statements), Manty AG is not included in the Carrinho Group's consolidation scope, and there is no legal or accounting basis for its inclusion in the consolidated financial statements.

The possible existence of common beneficiaries in different corporate structures does not, in itself, constitute a group relationship, common control or mandatory consolidation in the absence of management power, dominant influence or effective control. The entities retain full legal, patrimonial and decision-making autonomy, with their own corporate bodies and independent responsibility.

The relationship established between Grupo Carrinho and Manty AG is exclusively commercial in nature, limited to international trading operations conducted under normal market conditions (arm's length principle), without any corporate support, shareholders' agreement or underlying control mechanism, over a period of approximately 10 years.

  1. The Carrinho Group has relationships with national and international banking institutions and, within the scope of these relationships, is frequently requested to provide documentation relating to its partners and related parties. To date, there have been no complaints or requests for additional information or suspicions on the part of these entities.
  2. The Carrinho Group has formal internal compliance and risk management procedures in place, including:
  3. Know Your Counterparty (KYC/KYB) policies;
  4. Verification of beneficial owners;
  5. Systematic screening against international sanctions lists (EU, UK, OFAC and other relevant lists);
  6. Reputational and regulatory risk assessment;
  7. Compliance with applicable AML/CFT obligations;
  8. Internal mechanisms for contract approval and segregation of duties.
  9. It is expressly stated that there are currently no corporate links, contractual commitments, financial obligations, financing relationships, guarantees, cooperation agreements or any other forms of legal relationship between the Carrinho Group and Mr Maurice Taylor or Mr Niels Troost, nor with any entities directly or indirectly owned or controlled by them.

The Carrinho Group:

  1. Demands the immediate rectification of factually false statements, with prominence proportional to that of the original publication;
  2. Demands the publication of a full clarification and right of reply in an appropriate manner;
  3. Requires the disclosure of the documentary and methodological bases invoked for percentages and allegations presented as facts;
  4. Reserves the right to take all appropriate legal and institutional measures to defend its honour, reputation and integrity, including liability for reputational damage, where applicable.

Finally, the Carrinho Group reaffirms its commitment to legal compliance, corporate integrity and full compliance with national and international standards applicable to its operations, and remains available to provide further clarification through its own institutional channels.

Lobito, 26 February 2026

THE COMMUNICATIONS OFFICE

comunicacao@carrinho-sa.com

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