Ver Angola

Banking and Insurance

IGAPE clarifies that public bank BPC is not to privatize

The Institute for the Management of State Assets and Shareholdings (IGAPE) stated this Friday that the Banco de Poupança e Crédito (BPC) is outside the privatisation programme and that there were no expressions of interest in a possible sale of this asset.

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According to IGAPE, in no contact with investors 'who are interested in selling shares in the financial assets described in PROPRIV [the privatisation programme launched by the government last year]' was the privatisation of BPC mentioned.

"This institution is at the beginning of the implementation of its Restructuring Programme that will allow it to face the various challenges it faces, as well as fulfilling its role in the Angolan financial system," a statement noted, stressing that privatisation of BPC is not foreseen in PROPRIV.

IGAPE thus rules out any "supposed interest of international entities" in the privatisation of BPC, highlighting that PROPRIV foresees, in the financial area, the sale of the shares in Banco Angolano de Investimentos, Banco Caixa Geral Angola and ENSA - Seguros de Angola, as well as the privatisation of Banco de Comércio e Indústria.

Currently, the tender for the hiring of financial intermediaries who will be responsible for the evaluation of these assets and the preparation of proposals for the privatisation schedule is already underway.

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