Financial Performance, Corporate Governance and Reform of State-Owned Enterprises in Angola

This study analyzes the financial performance, fiscal impact and corporate governance of state-owned enterprises (SOE) in Angola with reference to the standards of the Organization for Economic Cooperation and Development (OECD) and the World Bank SOE Toolkit. The report provides an analysis of the financial performance and fiscal burden of SOEs; the legal framework and corporate governance practices including the oversight and ownership function; the monitoring and management of fiscal risks; selection of management and boards; transparency and disclosure of information and; the control environment. In addition, three structurally important SOEs are analyzed in some detail and international lessons on privatization are provided following a request from government. A set of policy recommendations organized into short, medium- and long-term priorities are included at the end of the report. A separate SOE monitoring dashboard tool was also prepared based on the financial data received.