The agreements signed by Angola last Friday in Yokohama with the Japan Bank for International Cooperation (JBIC), Mizuho Financial Group, and Rubank, on the sidelines of the 9th Tokyo International Conference on African Development (TICAD9), will operate through Angola’s issuance of bonds in the Japanese capital markets, explained Minister of Finance Vera Daves de Sousa.
Speaking to the press in Japan, the Angolan minister clarified that the two protocols aim to streamline procedures for the approval and disbursement of financing to approved projects.
In addition to these instruments, Angola also signed two other protocols with the Japan International Cooperation Agency (JICA), including a grant of around $10 million in favor of the Angolan state.
This amount will be allocated to finance key projects in the electricity sector and in the development of digital terrestrial television, to be implemented by the Angolan Public Television (TPA).
Regarding the energy agreement, she noted that it seeks to finance a transmission line to transport electricity from Huíla Province to Namibe, in order to further consolidate the power generation process, particularly in the transmission and distribution network.
“Angola already has some investments in production, but we must strengthen the transmission and distribution segments,” said the minister, emphasizing that this Japanese financing is intended to support that strategy.
Vera Daves de Sousa added that the occasion also served to establish preliminary dialogues, citing the meeting granted by the President of the Republic to the Director-General of the Africa Finance Corporation (AFC), to assess the availability of financing for private sector initiatives.
According to the minister, this includes the possibility of financing another transmission segment that would enable Angola to sell energy to neighboring countries. She stressed that the government is seeking, through public investment or Public-Private Partnerships (PPPs), to strengthen its focus on transmission, and subsequently on the distribution and export of the energy the country produces.
The Finance Minister gave a positive assessment of President João Lourenço’s visit to Japan, noting that Angola secured concessional debt with favorable grace periods and interest rates, resulting in lighter repayment terms. She also underlined that Japan will provide grants for relevant projects, alongside intentions for private investment.
Source: Jornal de Angola
