Southern Africa: Angola Expects to Raise 300 Billion Kwanzas From Sale of 15 Percent Stake in Unitel

6 July 2026
Angola Press Agency (Luanda)

Luanda — The Angolan State expects to raise 300 billion kwanzas through the Public Offering (IPO) of 7.5 million shares, representing 15% of UNITEL's share capital.

This information was disclosed to the press on Monday in Luanda by Paulo Graça e Silva, an executive at BFA Capital Markets, on the sidelines of the launch ceremony for the IPO of the country's first private telecommunications operator.

Speaking as the representative of the transaction's intermediary firm, he explained that the share price ranges from 36,000 to 43,000 kwanzas.

He noted that this is the largest public offering recorded in the country to date, surpassing that of Banco Angolano de Investimento (BAI), which in 2022 generated just over 120 billion kwanzas for state coffers.

Follow us on WhatsApp | LinkedIn for the latest headlines

Another distinguishing factor is that, until now, the Angolan capital market has featured only companies from the financial sector; UNITEL will therefore be the first entrant from the telecommunications segment, according to the executive.

Starting this Monday, he reported, Angolan citizens and foreign residents in Angola may begin submitting their subscriptions, provided they hold a Tax Identification Number (NIF), a local bank account, a custody account with intermediary agents, and sufficient funds to execute the share purchase transaction.

"Strong demand" for UNITEL shares is anticipated, given the inquiries received from individual, corporate, and institutional investors.

UNITEL's Initial Public Offering (IPO) falls under the Privatization Program (PROPRIV) and runs until the 24th of this month.

The offering is directed at employees and the general public; 1,000,000 shares--representing 2% of UNITEL's share capital and voting rights--are reserved for employees.

For the general public segment, 6,500,000 shares have been reserved, representing 13% of the company's share capital and voting rights.

With over 21 million customers and a nationwide presence, UNITEL is one of the country's most significant and recognized brands; it currently has three shareholders.

Through this IPO, millions of Angolans have the opportunity to join the two current shareholders (IGAPE and Sonangol) and contribute to the operator's growth.

The offering's launch event was attended by representatives from the Angolan Insurance Regulation and Supervision Agency (ARSEG), the Institute for the Management of State Assets and Participations (IGAPE), UNITEL, the Capital Market Commission (CMC), the Angola Debt and Securities Exchange (BODIVA), and the financial intermediaries involved in the operation--namely BFA Capital Markets (BFACM), Áurea, and Banco Caixa Geral Angola (BCGA).

Currently, five companies from the financial sector are listed on the country's stock exchange: BAI, ENSA, Banco Caixa Geral Angola, BFA, and BODIVA.

Read the original article on ANGOP.

Tagged:
Copyright © 2026 Angola Press Agency. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 600 reports a day from more than 90 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.