A Angola Telecom EP currently has significant uncertainty that could jeopardize the telecommunications company's ability to continue its normal course of business.
This information was disclosed by an independent auditor, given the fact that Equity Capital is negative and current liabilities exceed current assets by Kz 137.898.181 million, without considering the potential effects of the matters presented in the basis for qualified opinion.
According to figures released by the Angolan newspaper Market, Angola Telecom EP had a positive net result of Kz 27.036 million in the 2021 financial year, while the financial result was positive Kz 19.237,5 million, having decreased by 160,94% compared to the 2020 financial year, says the Report and Accounts of 2021.
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Therefore, the continuity of the company is dependent on the support provided by the State or the carrying out of future profitable operations.
In short, the supervisory board indicates that it is for the first time in the last three years that the company presents a net result of 27.036 million Kz, recognizing the effort implemented to reverse the negative condition of Equity, resulting from the successive negative results of the fiscal years previous economics.
To report that the last few months have been very troubled at the state-owned company, where workers stopped their services more than two months ago, and where they demand updating and regular payment of wages, the attribution of better working conditions, medical and medication assistance, as well as the payment of retirement compensation.
