Angola has filled a gap and created a “strategic” tool to support credit stability with the establishment and enforcement of the Legal Framework for Corporate Recovery and Insolvency (REJUREI), said Secretary of State for the Budget, Juciene Cristiano de Sousa.
According to the Secretary of State, who delivered the opening speech at the 1st International Conference on Business Recovery and Insolvency, this legal framework also serves to protect employment and to revitalize the Angolan business fabric.
In line with its objectives, REJUREI, as inferred from Juciane Cristiano de Sousa’s remarks, is an “essential piece” of the Government’s strategy to promote a stronger, more transparent, and more attractive business environment.
“But this ambition will only become a reality if we are able to turn this legal regime into a true recovery mechanism — and not just a tool for orderly liquidation,” said the Secretary of State for the Budget during the event held in Luanda.
This legal instrument also reflects the Government’s intent — as explained by the official — to allow banks to recover credit without dragging the economy into stagnation, and to ensure that investors find predictability and respect for the principle of trust.
Currently, around 20% of bank credit in Angola is in default, she noted, underscoring the urgency of consolidating effective recovery and restructuring mechanisms.
Given the current economic context — marked by persistent inflation and modest growth — Juciane Cristiano de Sousa emphasized the importance of having a legal framework that allows companies with potential to reorganize, survive, and relaunch.
She spoke at the conference organized by Recredit on July 3rd, highlighting that:
“A sound insolvency system is not merely a legal measure — it is an economic policy lever, a shield for job protection, and a sign of institutional maturity.”
She added that the goal is to build an Angola where viable businesses get a second chance and workers are not the first to lose everything.
Despite the introduction of the new legal regime (Law No. 13/21 of May 10), the Secretary of State acknowledged that success will require institutional consolidation and investment in technical capacity.
“We must change practices, strengthen structures, train professionals, and, above all, build a legal and economic culture that values restructuring as a viable alternative to dissolution,” she concluded.
Source: E&M
