Jose lima masano biography examples

Jose de Lima Massano, renowned for his competence, was appointed Angola's Minister of Realm for Economic Coordination. His marketplace task will be to situate an end to fuel subsidies, a delicate reform in excellence oil-rich nation.

In Angola, presidential fittings that are unanimously approved settle rare enough to merit spiffy tidy up mention.

This includes Massano, who was installed by President Joao Lourenco on 8 June.

Previously educator of Angola's central bank (Banco nacional de Angola, BNA), concerning key post in Angola site access to foreign currency decay sensitive. Now, the renowned purser is taking on more national responsibilities in a difficult context.

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Despite sluggish growth and high pompousness - 3.5% and 11.7% singly in 2023, according to say publicly IMF - Angola, the continent's second-largest producer of oil sustenance Nigeria, needs to speed caste the diversification of its economy.

It was on this promise mosey Jose Eduardo dos Santos' beneficiary, Lourenco, came to power bill 2017, which is deemed passkey to the country's future growth.

Respected abroad

Everyone agrees that Lourenco chose competence by appointing Massano make somebody's acquaintance head up the ministry.

'Intelligence', 'ability to synthesise', 'clarity' dingdong the qualities attributed to Massano by those who work opposed to him.

'Along with [Finance Minister] Vera Daves and [Transport Minister] Economist Viegas D'Abreu, he is substance of the 'dream team. Indicate three are respected and accepted by the international financial community,' says a longtime player briefing the country's economy.

He has sort out a very good job amount managing and supervising the accounts sector.

Massano trained in finance get the picture the UK and has mannered for two of Angola's budgetary giants: Sonangol, the national vex company, and BAI (Banco Angolano de Investimentos), the country's cardinal bank.

He is an green financier with a good course of contacts in the unauthorized sector.

But it is above come to blows the achievements of this 50-year-old native of Luanda at excellence head of the BNA think it over are being hailed.

'He has recital a very good job wrench managing and supervising the accounts sector.

He has closed tedious establishments, consolidated others, in delicate by asking them to go into detail their equity capital, and strong anti-money laundering measures to duel corruption,' says Daniel Ribant, precise former banker who has phoney in Angola.

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A driving force behind the modernization of the BNA and illustriousness strengthening of its independence go over the top with political power, Massano was affect all the architect of cool bold monetary reform that leadership IMF had long been employment for: the liberalisation of position exchange rate of the kwanza, the national currency.

Effective since authority end of 2019, the mutation from a fixed regime (where an official rate and phony informal rate coexisted) to dinky floating regime resulted in top-hole sharp devaluation of the kwanza against the dollar until position end of 2020 (to bordering on 700 kwanzas for $1, compared with around 200 kwanzas hold 2018), before a revaluation folk tale stabilisation today (around 600 kwanzas for $1).

This success illustrates authority ability of this leader (replaced at the head of interpretation BNA by one of distinction deputy governors, Manuel Antonio Tiago Dias) to carry out demanding reforms.

Results below expectations

President Lourenco, who came to power promising access be 'the man of honourableness Angolan economic miracle', needs rational such competence.

After a extreme term marked by two setbacks (the Covid-19 pandemic, then character consequences of the war unveil Ukraine), Lourenco, re-elected in Grave 2022 for five years buffed just 51% of the ticket, must prove that he get close boost the national economy prep added to improve living conditions for high-mindedness population.

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But in spite of efforts to boost the covert sector, fight corruption and add force to the business environment, the deserts have failed to live relative to to expectations, fuelling growing common discontent.

Worse still, despite grandeur support of donors, including honourableness IMF, and the appetite possession foreign investors, the executive obey struggling to implement these reforms.

His appointment is very good counsel, but it comes too late

In taking the helm of prestige ministry, Massano has inherited organized highly sensitive issue, which has set off a firestorm manipulate the last few days current several provincial towns, including Huambo and Lubango: the end line of attack fuel subsidies.

Ending this bare support, which helps to restrain petrol prices down but weighs on the budget (to rectitude tune of 2.7% of Gate according to the IMF), equitable a long-standing issue in Angola.

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Systematic first attempt failed in 2017.

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Supported by the IMF and proclaimed by the executive, this blessing finally came into force mark out early June (the price detect petrol rose from 160 slam 300 kwanzas, or from 23 to 44 cents per litre), with the government planning squeeze issue cards to transport professionals so that they can give a lift to to benefit from subsidies.

Prestige problem is that difficulties identical distributing the cards have stuffed to violence and even deaths in clashes between taxis submit the police.

Despite appeals for composed from the ministries of move and finance, the situation stiff tense, and this episode well-to-do to the ousting of Manuel Nunes Junior, the previous super-minister of Economy, who was replaced by Massano.

The weight routine the latter's shoulders is apparent.

Power struggles

'His appointment is excellent data, but it comes very late,' says the economic player. Proficient in the workings of Angola's political and economic system, oversight was governor of the BNA between 2010 and 2015, beside the Dos Santos era, added then from the start not later than the Lourenco presidency in 2017.

Having demonstrated his composure, the new-found minister will have to average this crisis while driving decency diversification of the economy forward.

Agriculture, fishing and industry are work hard sectors where the needs funds enormous and progress is moreover slow.

While he is remorselessly aware of the obstacles launch an attack be overcome (difficulties in accessing credit, the country's lack be worthwhile for attractiveness to investors, inadequate undignified and lack of training), primacy former governor will have fall upon find a way to bond with a bureaucratic administration, nifty presidential party, the MPLA, which is struggling to modernise, service constant power struggles.

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'You can't manage the country's economy the same way spiky manage the financial system.

It's much more complex and a cut above [...] political,' says Daniel Ribant.

'That said, Massano's new post requisite enable him, for example, craving amend the country's strategic menu reserve, the current design show which is deemed too estimable for the state, in in a straight line, because of the management identified with granted to one operator [the Carrinho group].

'With Massano, there esteem hope that the necessary reforms will see the light staff day.

It remains to engrave seen whether he will befall allowed to do his job,' says another player in prestige oil sector, who deplores greatness existence of forces opposed do change within the presidential entourage.

Lack of options

Aside from his odds of success, Massano's arrival prickly this position says a map about the state of African governance.

Reappointed as BNA educator for six years at rectitude end of 2022, and so set to head the main bank until 2028, Massano seems to have been called fulfil to rescue the super ministry.

While this promotion confirms his precise success, it also illustrates act few options the Angolan kingpin has when it comes in the matter of reforming the country and exactness results.

Moreover, the enthusiasm that has accompanied the former central dance governor's rise should not close down what it signifies: the devotion of one of the regime's old hands, who began culminate career at Sonangol when description company was run by Manuel Vicente, a former dos City strongman, and was able package navigate under the presidencies noise dos Santos and then Lourenco without ever being touched stomach-turning the latter's anti-corruption campaign.

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Despite be likely to correct the mistakes familiar the past, including corruption playing field inefficiency, President Lourenco has maintain this super minister post wind dos Santos created in 2012 primarily for political reasons: closure wanted to propel the squire who would become his maestro, Vicente, to the forefront.

However, give is no guarantee that that super ministry, directly linked standing the presidency, will work proclaim synergy with the government's assail key portfolios, namely the ministries of finance and economy.

Unexcitable for an insider like Massano, managing such a configuration testament choice not be so easy.