MIGA issued $2.3 million in coverage to two investors, from Portugal and Finland, for their investments in the construction of a soap factory in Viana, near Luanda. The guarantees provide coverage against the risks of transfer restriction, expropriation, and war and civil disturbance.
The new soap factory will diversify the product line of the existing project enterprise, which manufactures liquid detergents and scouring powder. The new range of soaps will reduce Angola's dependence on imports of these products. The developmental impacts of the project include upstream and downstream benefits such as local procurement of plastic bottles, wrapping, cardboard boxes, and local transport services.
