The Angolan Council of Ministers has approved a decree establishing the allocation of 80% of the gross revenue from licensed social gaming and unclaimed prize money to the promotion of health, youth, and sports.
According to Lusa, the draft presidential decree approving the allocation of the percentage of these social gaming revenues was approved on Friday (29) during the fifth ordinary session of the Council of Ministers, chaired by Angolan President João Lourenço.
The legal measure establishes the distribution of the revenue due to the State from the concessionaire, defined as the financial counterpart of the contract for the operation of social games such as lottery, lotto, totobola, and other authorized games.
According to Angola’s Minister of Finance, Vera Daves de Sousa, the approved decree aims to implement the Gaming Activity Law, which delegates to the head of the executive power (the President of the Republic) the responsibility of defining the allocation of the percentage of concession revenue for social purposes.
The newly approved presidential decree seeks to set this distribution at 80% of the amount for expenses dedicated to the promotion of health, youth, and sports, with 40% allocated to health-related initiatives and 40% to youth and sports programs, she explained.
The remaining 20% will be directed to the National Treasury (10%) and to concession supervision (10%), under the responsibility of the Angolan Insurance Regulation and Supervision Agency.
The session also reviewed a draft presidential decree approving regulations for special co-insurance regimes and defining their organization and functioning, as well as a decree creating the Angolan Open Access Repository.
According to the statement issued after the meeting, the repository is a regulatory instrument that establishes an information system for the storage, preservation, organization, and dissemination of intellectual and scientific production from Angolan higher education institutions, scientific research bodies, extension, and innovation entities.
Finally, as part of state reform efforts, the Angolan Government also reviewed a draft presidential decree amending the organic statute of the Ministry of Industry and Commerce “to ensure greater efficiency and effectiveness” in the performance of its duties.
