The assets were registered in an addition to the 2023-2026 privatization program, according to a presidential decree, which lists the 39 hotels to be privatized this year.
The Minister of Finance will be responsible for verifying and validating the necessary acts, as well as setting up a negotiation committee that will be made up of representatives of the ministerial departments responsible for the activity sectors and is governed by the basic privatization law, according to the order presidential decision authorizing the sale of hotels spread across 18 provinces.
Businessman Carlos São Vicente was sentenced, in March 2022, to nine years in prison by the Luanda District Court, and to pay compensation of 500 million dollars.
The former owner of the AAA insurance company was found guilty of crimes of embezzlement, money laundering and tax fraud, through an alleged embezzlement of 900 million dollars from Sonangol.
At the time, the judicial authorities ordered the seizure of assets belonging to the Portuguese-Angolan businessman, including the hotel chain, and the freezing of bank accounts was also requested.
