Ver Angola


Economist: losses in companies make privatization plan “difficult to achieve”

The Economist Intelligence Unit (EIU) considered that the privatization plan for public companies in Angola, which foresees the sale of 195 assets by 2022, will be "difficult to achieve" due to the losses of these companies.


"Progress in privatization is expected to remain slow, and the Government's goal of selling 195 assets by 2022 may be difficult to achieve, particularly as many companies on the list are making a loss", write the experts at the analysis unit of the British magazine The Economist.

In a comment on the launch of the second phase of the privatization program, sent to investors and to which Lusa had access, analysts write that "the privatization plan continues to perform slowly, probably due to the high levels of bureaucracy, the challenging environment business that hinders private investment, and the low levels of liquidity in the Angolan financial system".

A total of 13 manufacturing units begin to be sold this month, in the second phase of the privatization process, which the Government started in 2019 and in which it managed to raise 16 million dollars.

The companies in question are part of a group of 195 assets owned or participated by the State and which it intends to dispose of by 2022, within the framework of its Privatization Program (Propriv).

Companies listed for privatization have production in the areas of metal packaging, concrete, carpentry, plastic bags, paints and varnishes, metal towers, PVC pipes, metal tiles, PVC accessories, seals, absorbents and bags for cement.

"Angola has long been talking about the privatization of several public companies to limit financial exposure and make public services more efficient", recall economist analysts.

EIU experts stress that one of the main aspects of the privatization plan "is the ban on individuals, spouses and direct relatives with direct links to entities and the sale process from participating in the bidding process".

For analysts, "this serves to resolve potential conflicts of interest that could arise and to calm concerns that members of the political elite would be favored, thereby deepening hidden interests and harming competition".


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