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Tourism

Twenty business groups interested in privatizing Infotur hotels

About 20 business groups expressed interest in the privatization of three hotel units of Infotur, in the provinces of Luanda, Benguela and Cabinda, proposing to the State the signing of management and exploration contracts.

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According to the State Assets and Participations Management Institute (IGAPE), on May 28th a consultation session was held for the privatization of the Infotur Hotels chain, in which nearly 20 interested entities, mostly Angolans, participated.

IGAPE informs, on its website, that, in that session, investors proposed privatization through the form of signing management and exploration contracts.

The proposal presented was based on the difficulty of selling the units, due to the lack of liquidity and the need to initially implement strategies to make the hotel units viable, located in the provinces of Benguela, south coast of the country, Cabinda, in the north, and Luanda.

Participants in the session, including consultants, lawyers and businessmen, one of whom is of Italian nationality, also suggested visits to assess the condition of the hotels.

"Thus, despite the recommendation of the immediate launch of the contest, there is an urgent need to take care of the time necessary to visit the hotel units before the launch of the contest", stresses IGAPE.

The consultation session, which took place as part of the implementation of the Privatization Program (PROPRIV), aimed at "meeting the requests of several investors, who, despite the current moment in which the covid-19 pandemic is being fought, express their interest in participating in privatization processes, adapting to the context ".

IGAPE has other privatization processes underway, namely the Bank of Commerce and Industry (BCI) and recently the Banco Angolano de Investimentos (BAI).

Speaking today to the Lusa agency, IGAPE's communication officer, António Coimbra, said that the sale of BAI is the second process in the financial sector, after BCI, which should be followed by two more, including an insurance company.

An order by President João Lourenço determined the sale of the shares of 8.5 percent of Sonangol Holdings and 1.5 percent of the National Diamond Company in BAI, in aggregate, through a limited call for prior qualification ".

According to António Coimbra, in relation to BAI, a financial intermediary is contracted, as happened with BCI, which will be mandated by IGAPE to carry out the asset valuation and due diligence for subsequent design of the privatization process program. .

As for the privatization process of the three textile industries, currently underway, António Coimbra said that the tender is open until August, and contacts with interested parties are taking place at this time.

"We have had several contacts, in the past, with some foreign investors, and there are also national entities, who from time to time question us, asking questions about the asset, but we are waiting. We are still within the useful period and we are quietly speaking with people, "he said.

Without advancing names and nationality, António Coimbra stressed that "there is some interest", coming mainly from people with an understanding of the subject, due to the specificity of the assets.
"It is a very specific asset, it is almost an area of ​​specialty, and we are interested in entities in this industry", he stressed.

These are the Comandante Bula textile units, in the province of Cuanza Norte, Africa Textile, in Benguela, and Textang II, in Luanda.

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