Angolan state-owned companies post losses of US$173 million in 2018

Taag é a empresa de capitais públicos com maior prejuízo em 2018, cerca de 260 milhões de dólares

The accounts of 55 companies in Angola"s public business sector shows an aggregate loss of 66 billion kwanzas (US$173 million) in 2018, according to reports and accounts released on the Institute of State Assets and Holdings (IGAPE) website.

These companies had revenues of 106 billion kwanzas (or US$279 million) and total losses of more than 173 billion kwanzas (US$452 million), according to figures released by IGAPE and quoted by the Jornal de Angola newspaper.

TAAG, the flagship air carrier, is the publicly-owned company with the biggest loss in 2018 of almost 100 billion kwanzas (about US$260 million), a sharp increase over 2017, with Angola Telecom coming in second, with a loss of 35 billion kwanzas (over US$90 million).

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