During a meeting with journalists, Gaspar Martins stated that "three real estate assets in Europe" have already been privatized and two aircraft that were in the fixed wing segment (from the subsidiary Sonair) were transferred to TAAG.
On the same occasion, the Minister of Mineral Resources and Petroleum, Diamantino de Azevedo admitted that this may not be the best time to privatize the assets, given the effect of the covid-19 pandemic, but added that this may also be the new normal.
"Shall we stop? Let's wait for this to end? We don't want to stop. There may be less revenue, but you shouldn't look only at the revenue," stressed the ruler, pointing out that for Sonangol it would be worse to stop than to sell the assets on the list.
The list includes divestments in Sonangol Cape Verde - Sociedade e Investimentos, Combustíveis e Óleos de São Tomé e Príncipe, Founton (Gibraltar), Sonatide Marine (Cayman Islands), Solo Properties Nightbridge (United Kingdom), Societé Ivoiriense de Raffinage (Ivory Coast), Puma Energy Holdings (Singapore) and Sonandiets Services (Panama).
Also covered are the stakes in the companies WTA-Houston Express and the French WTA, the oil companies Sonacergy - Serviços e Construções Petrolíferas and Sonafurt International Shipping and Atlântida Viagens e Turismo, among others.
Urged to comment on the cases of corruption associated with Sonangol, Diamantino de Azevedo said that the process of restructuring the oil company, which includes the sale of these subsidiaries, is also a result of this struggle.
"It is a process that will not end today or tomorrow," said the minister, refusing to comment on the judicial process involving the Portuguese-Angolan businessman Carlos São Vicente, allegedly involved in an illegal scheme that has damaged the oil company by more than 900 million dollars.
"At our level, we want to dominate aspects that could dilute the facilities for corruption," he stressed.
Sonangol is the largest Angolan business group, with nearly 10,000 direct employees and subsidiaries in air transport, telecommunications, real estate and fuel distribution, among others, and has stakes in several companies and banks, including in Portugal (Millennium BCP and Galp).
During the meeting that took place at the Intercontinental Hotel, recently inaugurated after being nationalized in October last year for having been built with Sonangol's public funds, the management model of the hotel unit, still under a 'soft opening' regime, was also questioned.
According to Gaspar Martins, the building is not leased to the Intercontinental chain, and a management fee should be defined based on the unit's performance. Other services, such as 'spas' and casino may be 'tertiarized'.
As for the reduction of Sonangol's participation in some oil blocks, the modality in which companies may apply in the future is being studied: "There will be a clear document from Sonangol on how interested companies may apply".
Minister Diamantino de Azevedo also discussed the privatization of the state-owned diamond company Endiama, explaining that it was agreed with the Finance Ministry that the stock market entry could only start after two consecutive years of audited accounts without reserves.
The dispersion of part of the capital in the stock market is also dependent on the restructuring of the mining companies so that Endiama "can free itself from its role of concessionaire" and focus on the role of operator.
