The executive president of the distributor of fuels and other oil derivatives Pumangol, Ivanilson Machado, declared that, despite the current circumstances of difficult balancing of the economic balance due to the difficulties inherent in subsidizing fuel prices, due to the delay in liberalizing prices, the company remains committed to developing its sustained growth strategy.
Evanilson Machado made these statements on the sidelines of the inauguration of the company’s 80th filling station, in Luanda, at the beginning of the week, supported by the director of Logistics, Óscar Sequesseque.
On the occasion, the Director of Logistics at Pumangol considered that the subsidies that lead to the sale of fuel below real value prices in the Angolan market represent a “great constraint” and an inhibiting factor in the adoption of an investment decision.
Óscar Sequesseque added that the issue of subsidies “represents a constraint and an inhibiting factor, at certain times, in the materialization of the investment portfolio, because the return margins are tiny and implies that any investor in this branch has to take much longer to recover the capital”.
Despite the current subsidy scenario having negative implications, Óscar Sequesseque says that because Pumangol is an Angolan company, now fully nationalized, it will continue to invest.
“We understand that the resolution of this restriction or inhibiting factor remains on the Executive’s agenda and will certainly soon be mitigated, in order to create greater appetite for all operators in the branch to return to investing properly”, he said.
Implemented in the country’s 18 provinces, Pumangol has more than 380 employees and is responsible for 200 indirect jobs. The new filling station in the city of Luanda involved an investment of US$3.7 million, having created 30 stations for pump operators and 14 employees at the Spar convenience store.
The new service model is guided by a strong investment in technological solutions in the infrastructure, with emphasis on state-of-the-art management solutions, according to the company, “more reliable, efficient and auditable”, being equipped with TPA Nexgo G2, which saves time in electronic transactions, lasting less than six seconds.
Fuel pumps are computerized and equipped with IGEM boards launched in 2022, which allow for high-precision fueling, powered by photovoltaic energy in the event of an interruption to the general network.
