12 December 2018

Angola: Government Pledges Transparent Privatisation Process

Luanda — The Angolan government is taking into account the criteria of efficiency and transparency in the public companies privatisation process, which will happen through the Angolan Securities Exchange, contrary to what was being done previously in which the Executive made a direct selection of the accepted bids.

The information was given last Tuesday, at the National Assembly, by the Finance minister, Archer Mangueira, while presenting to MPs the Draft-Basic law on Privatisations, which was approved on the same parliamentary session, in its general terms, with 167 votes in favour, 44 against and six abstentions.

According to the minister, one of the best ways to empower Angolans and institutionally help them become great entrepreneurs is to demand efficiency in their activities, besides other aspects, which will make them organise their functioning and structures more correctly, reason why the privatisation process will go through the Securities Exchange.

He went on to explain that the mentioned draft-law will enable the head of the Executive to create a norm that approves a privatisation programme, in which the principles of transparency and efficiency ought to be enshrined.

He seized the occasion to disclose that public firms in the sector of energy and waters in the initial stage will not be part of the privatisation process.

Meanwhile, the opposition UNITA parliamentary bench - whose members voted all against the said bill - had requested the change of the agenda of discussions to enable greater political concert about the issue (privatisation), however the request was rejected.

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