"The economic recession, the covid-19 pandemic, the lowering of the credit risk rating, which makes it difficult to finance companies that want to invest and the need to consolidate sector strategies are the main challenges of the program," said José Tavares, during a virtual conference promoted by the law firm CMS Rui Pena & Arnaut, from Lisbon.
In the presentation, José Tavares stressed that, "with greater or lesser difficulty, it has been possible to overcome these difficulties and give a positive sequence to the privatization program", which was launched in 2019 and has already concluded the sale of about 23 percent of state assets .
"In 2019, we privatized seven assets, last year there were 32 and in this and next year we will privatize the remaining 133", said the official during his presentation.
The privatization program in Angola aims to "promote macroeconomic stability, increase the productivity of the national economy and distribute national income more equitably", pointed out José Tavares, stressing that the processes "are being conducted with maximum transparency".
In this quarter, Angola expects to privatize 40 processes, among which are the launch of sales by BAI and BCI banks, leaving 59 assets for the third quarter of this year and 13 for the last three months of 2021.
"The main objective of the program is to end direct deliveries and adjudications, the State must leave the economy and focus on the economic and social development of the country, with a particular focus on the productive sector", concluded José Tavares.
