Ver Angola

Raw Materials

Endiama wants to sell Hotel Diamante of Luanda later this year

The chairman of Endiama's board of directors, Ganga Júnior, said on Monday that the state-owned diamond company intends to sell the Hotel Diamante later this year, as well as other companies in the group, without guaranteeing the maintenance of jobs.

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José Manuel Ganga Júnior pointed out the "paths of privatization", during a balance sheet of the activities of the National Diamond Company of Angola (Endiama), announcing that that asset, in which the diamond has a majority stake, is to be sold later this year.

Although there are still some "operational issues" to be dealt with, the president of the company's management said he believes, in relation to the hotel unit, "that this year it will leave the Endiama universe".

The same will happen with the subsidiary Enditrade, dedicated to the logistics area, which is also on the list to be privatized.

With regard to the security services provider, Alfa 5, the objective is "to remain present, given the type of company and particularity of the product" of Endiama, but through a minority shareholding, reducing the capital from 70 per cent to 30 per cent.

As for the Clínica Sagrada Esperança - Ilha de Luanda, "the proposal is not to privatize".

According to Ganga Júnior, Sagrada Esperança should be 100 per cent with Endiama "because it works a bit like health insurance", ensuring "medical assistance and medication to all workers".

The decision of Endiama's administration is also to create a clinic of reference in the area of health in the east.

When asked about the jobs of the companies to be privatized, Ganga Júnior gave no guarantees.

"We do everything not to bring more misfortune, but I cannot guarantee that the new owner will take over 100 percent of everything (...) and not want to restructure some part of the business. I'm sure he'll need people, but the job isn't immutable," he said.

The Privatization Program (Propriv) presented by the Government last year foresees the total or partial sale of 195 companies, including some of reference companies such as Endiama or the oil company Sonangol.