Ver Angola

Banking and Insurance

João Lourenço authorises sale of state shares in Caixa Angola bank

João Lourenço gave the green light to the sale of the shares the state holds in Caixa Angola bank. The state owns 25 percent of Caixa Angola's shares through Sonangol.

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The President of the Republic, through a decree, quoted by Novo Jornal, decided that the alienation process will be done through a tender, where the candidates will have to be previously qualified.

The Presidential document also states that the head of the Ministerial Department of Public Finance will be the one to supervise and approve all phases of the tender - such as appointing a committee to negotiate and evaluate the bids, awarding the actions to the best bid, and concluding and signing the contract.

João Lourenço also indicates that the commission should be composed of representatives of the ministerial department responsible for the banking and financial sector and representatives of Sonangol.

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