Angolan Minister of Energy confirms the departure of ENDE from Efacec – Observer

The Angolan minister of energy and water João Baptista Borges confirmed Tuesday the decision of the Luanda government to withdraw the National Electricity Distribution Company (ENDE) from its partnership with Efacec in Portugal. Based on the decision, according to João Baptista Borges, the partnership, with operations in the field of engineering and energy, as a condition to be the Angolan state-owned company to seek public funds to support the Efacec activities, "has been without safely due consideration. "

On the 17th of this month, the Angolan businesswoman Isabel dos Santos confirmed in the statements to the Angolan newspaper Valor Econômico the order of the Angolan president, João Lourenço, for the exit of the ENDE of Efacec, and guaranteed that, during the time that he had the leadership state-owned company, has never used public funds to buy shares in Efacec.

The daughter of the former Angolan president José Eduardo dos Santos also stated that the ENDE never paid the full amount of its share, which fell from 40% to 16%. "We were told that the President of the Republic instructed the Department of Energy and Water to leave the ENDE of Efacec and the actions of the ENDE will now be sold on the international market," said Isabel dos Santos.

The Angolan businesswoman reaffirmed that Efacec was not purchased with public funds, emphasizing that it was herself that went ahead with the money to allow ENDE to go to Efacec. "Efacec was bought for 195 million euros and ENDE costs 16 million euros How does the state work [angolano] paid? ", asked Isabel dos Santos, adding that every shareholder had to make his share and pay for his shares.

"Presumably, with the 40%, the capital of Winterfell, ENDE would have to pay 40 million euros, but pay only 16 million euros The total amount was never paid, I was the one who paid the rest of the money in advance for ENDE to to step into the business ", the businesswoman added. Isabel dos Santos emphasized that "despite the weak partnership" Efacec has been resurrected "and has now become a" global reference in the field of energy and engineering ".

"Some sectors have struggled to accept the success of Isabel dos Santos," he joked. The businesswoman stressed that the partnership alles had everything to close a happy marriage omdat, because ENDE would have had access to "talent to lead energy and technology."

"The project to build an electric cable factory in Angola in 2019 would enable the transfer of know-how and create about 300 new specialized jobs," he added. Winterfell has a share of 66.07% of the Efacec shares, which achieved a 75% profit growth in 2017, amounting to 7.5 million euros

This is the second time that Isabel dos Santos confirms that the acquisition of Efacec has not been purchased directly or indirectly with public funds from Angola. Presumptions that public funds were involved date from August 2015, after a presidential decree of the then head of state, José Eduardo dos Santos, father of Isabel dos Santos, authorized ENDE to purchase 40% of the Winterfell shares, about three months later, formalized the purchase of Efacec.

The doubts were fueled by the fact that the amount that ENDE paid for the purchase was not disclosed. At that time, the Portuguese Parliament asked the Lisbon government to check whether the procedures for combating money laundering were followed. The company's relationships, established in Portugal, with Angola, date back to the 1960s.

In recent years a number of large contracts have been concluded, such as the project in 2014 to increase the capacity of a Luachimo hydroelectric power station in the Angolan province of Lunda Norte for a period of 37 months and a value of approximately 83 million euros.

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