Angola: Privatisations Boost Economic Competition - Official

Luanda — Minister of State for Economic Coordination Manuel Nunes Júnior Tuesday in Luanda considered the privatisation process a tool to achieve adequate levels of competition and efficiency in business management in Angola and the economy.

Manuel Nunes Júnior was speaking to the press at the presentation session of the Privatisation Programme (PROPRIV).

He said that the Executive will work with caution on the process to avoid mistakes made in the other parts of the world.

The minister stated that the implementation of programme will meet the international best practices and always based on Angolan legislation.

He described the commitment as crucial for ensuring the confidence of the economic agents in this process and attract quality domestic and foreign investment.

Share capital held wholly or partially by the Angolan State in 195 different companies will be sold between 2019 and 2022, under the privatisation programme published in the Diario da Republica official bulletin.

The programme states that 175 companies will be sold via public tender, 11 by public auction and nine through Initial Public Offering (IPO), with the government expected to launch public tenders this year for 80 companies as well as one IPO.

In 2020, 81 companies are due to be sold through public tender, six through auction and three via IPO, and in 2021 and 2022 the remainder will be sold.

The most well-known companies involved in this process are state oil company Sonangol, diamond company Endiama and airline TAAG, the BCI, BAI, BCGA and Banco Económico banks, as well as financial companies ENSA Seguros and the Angola Debt and Securities Exchange (Bodiva).

The programme also includes agro-industrial units Aldeia Nova and Biocom, textiles companies, Textang II, Satec and África Têxtil, cement plants Nova Cimangola and Secil do Lobito, as well as the Cuca, Eka and Ngola breweries and construction company Mota-Engil Angola.

The telecommunication companies that will be included in the Privatisation Programme are Unitel (in which MSTelecom has a 20% stake), MS Telecom itself, Net One, Multitel, Angola Telecom, TV Cabo Angola, Angola Cables, Angolan postal company ENCTA, Angola Comunicações e Sistemas (ACS) and telephone directory company ELTA.

Other companies listed for privatisation are Sonangol's airline, Sonair, airport management company Sociedade de Gestão de Aeroportos and Sonangalp, a fuel distribution company that is 51% owned by Sonangol. (Macauhub)

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