Ver Angola


Executive maintains ownership of China International Fund industries for ten years

The executive will maintain, for ten years, ownership of the China International Fund (CIF) industrial units that he intends to grant through a limited tender for the assignment of exploration and management rights, with an option to purchase.


According to a statement from the Ministry of Finance, the information was transmitted by officials from the State Assets and Participation Management Institute (IGAPE) during a consultation session with potential interested parties in the privatization of these assets, which include cement, beer, assembly and of automobiles and the Logistics Center.

According to the administrator of IGAPE, Augusto Kalikemala, the State maintains ownership of the property for a period of ten years, with the investor being responsible for the management and exploitation of the property, expressing the intention to purchase after 3 months.

Augusto Kalikemala indicated that the technical, financial and operational capacity of candidates for asset management will be assessed, taking into account their liquidity and solvency to invest in the aforementioned companies and make them profitable, meaning that only candidates will be invited to submit proposals. with these requirements.

IGAPE plans to privatize 31 assets throughout the current year, with emphasis on banking, insurance and telecommunications, in addition to 39 hotels, with five new assets being included and another 21 removed from the privatization program (PROPRIV 2024-2026).

In 2023, the State raised around 48 billion kwanzas from the sale of a set of 11 assets from Sonangol and the Luanda/Bengo Special Economic Zone (ZEE-Luanda/Bengo).

In October 2020, the Attorney General's Office (PGR) announced the delivery of several assets to the National Asset Recovery Service, including companies and buildings owned by representatives of the companies China International Fund Angola (CIF) and Cochan, generals Hélder Vieira Dias "Kopelipa" and Leopoldino Fragoso do Nascimento "Dino".

The two generals, strong men of the regime of the previous President, José Eduardo dos Santos, were named defendants as part of a process related to contracts between the State and the company China International Found (CIF), within the scope of the extinct National Reconstruction Office.

According to the statement released at the time by the PGR, regarding the delivery of assets "constituted with public funds", the beer (CIF Lowenda Cervejas), logistics (CIF Logística), cement (CIF Cement) and car assembly (CIF SGS Automobiles).

All of the shares held in the company BIOCOM - Companhia de Bioenergia de Angola (which has shares in Sonangol and Odebrecht) were also handed over, through Cochan, the Kero supermarket chain, through the transfer of 90 percent of the group's shareholdings. Zahara Comércio, S.A. and the company Damer Gráficas - Sociedade Industrial de Artes Gráficas.

The representatives of the company CIF also transferred ownership to the patrimonial sphere of the assets that had already been seized on the 11th and 17th of February, namely 24 residential buildings and other equipment in the Zango 0 centrality called "Vida Pacífica", the centrality of Kilamba KK5800, with 271 buildings and 837 houses at different levels of construction, and the Cif Luanda One and Cif Luanda Two buildings.


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