Ver Angola

Economy

Privatization of 33 assets completed with 355 billion kwanza cash

The State Assets and Participations Management Institute (IGAPE) has already completed the privatization of 33 assets registered in the Privatization Program (ProPriv), guaranteeing a financial inflow of 355 billion kwanzas.

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The figures were presented after the first meeting of the ProPriv national interministerial commission, in which Patrício Vilar, president of IGAPE, took stock of the results of the last competitions.

Since August 2019, when the program was launched, 33 processes have been concluded, which took an average of 77 days, with 92 candidates.

The 33 assets include three leading companies in the textile sector.

2742 jobs were also created, according to IGAPE administrator Akuiles Neto.

According to Patrício Vilar, the five farms in competition were awarded, three of which through an extraordinary auction. The process of divesting the state stake in three breweries - Cuca, Ngola and Eka - has also ended, whose capital was acquired by the companies themselves.

The process of the second phase of the Exclusive Economic Zone was also concluded, with all companies being put out to tender, as well as agricultural companies.

In the case of agro-industrial companies, not all assets were awarded, with silos being left out, which will now be the target of concession processes.

"We are already in the second contest and the silos that are spread throughout the country have not been awarded", he added, stating that the objective is to advance now to concessions "in which candidates are already outlined".

If the competitions are deserted, those may be included in the strategic food reserve, managed by the Ministry of Agriculture.

Patrício Vilar indicated that this "is a turning point" and that the schedule for 2021 already reflects this objective, including other leading companies in the financial sector (insurance company ENSA and banks BAI, BCI and Caixa Angola).

In addition, companies in the telecommunications sector, TV Cabo and Multitel are expected to enter the stock exchange.

IGAPE also intends to start in March with the third phase of tenders for the award of units inserted in the Special Economic Zone (EEZ).

ProPriv plans to privatize 195 public companies, 32 of which are classified as national reference companies, namely in the sectors of Mining and Oil Resources, Telecommunications and Information Technologies, Transport, Finance, Hospitality and Tourism, Agriculture and Industry, by 2022.

Among the companies that the State plans to sell, highlighting the oil company Sonangol, the national carrier TAAG, Correios de Angola, Angola Telecom, the National Insurance Company of Angola (ENSA), the National Diamond Company of Angola (Endiama), the holdings at Unitel, Banco de Comércio Indústria, Banco Económico, the cement company Nova Cimangola, the Angola Stock Exchange and Derivatives (BODIVA), among others.

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