Angola: State intends to privatise Sonangol, Endiama, TAAG this year

Login

Register

http://www.clubofmozambique.com/

Angola: State intends to privatise Sonangol, Endiama, TAAG this year

11:07 CAT | 31 Jan 2022

File photo: Lusa

The chairman of the Board of Directors of the Institute for Management of State Assets and Holdings (IGAPE) said Friday that the state has kept Sonangol, Endiama and TAAG in its privatisation process for this year.

Patrício Vilar was speaking at a press conference for the general assessment of the Integral and Partial Privatisation Programme for Public Companies (Propriv) in 2021 and the programme for this year.

According to Patrício Vilar, these large companies had not yet created the preconditions to move forward for a divestment operation.

“And those preconditions include restructuring not only the companies, but the sectors in which they are involved and as we know many these restructurings are just beginning,” he said in statements broadcast on Angolan public radio.

He noted that, overall, 74 percent of the companies and assets sold had been awarded to Angolan companies.

In his turn, the secretary of state for Finance and Treasury, Ottoniel dos Santos, said that in 2021 a total of 35 assets were privatised or sold, with total contract values of 443 billion kwanzas (742.3 million euros).

“The Propriv 2019-2022 programme also plans to conclude, in the first half of this year, a total of 63 processes, we highlight the privatisation of Ensa [state-owned insurance company], the disposal of assets of Banco Caixa Geral Angola and also the disposal of assets of BAI bank and more,” he said.

Last week, Dos Santos said that over the last two years the country had raised 850 billion kwanzas (1.3 billion euros), with the sale of 64 assets.

Source: Lusa