Ver Angola


Government satisfied with privatizations that have already yielded more than 900 billion kwanzas

The Government has already raised 919.84 billion kwanzas with privatization contracts for 88 assets and companies, of which 534.97 billion kwanzas have been allocated.


By the end of the year, the Privatization Program (Propriv) plans to complete around 44 processes, the chairman of the Board of Directors of the Institute for the Management of State Assets and Participations (IGAPE), Patrício Vilar, told the press at the end of a meeting of the National Interministerial Commission responsible for the implementation of the Privatization Program, led by the Minister of State for Economic Coordination, Manuel Nunes Júnior, at which the status of Propriv was presented.

Among these, Patrício Vilar highlighted the conclusion of processes in the financial sector, namely Banco Caixa Geral de Angola and the Angola Stock and Debt Exchange (Bodiva); in telecommunications, TV Cabo; in industry, the fourth phase of privatization of the assets of the Special Economic Zone, Secil Lobito – Companhias de Cimento do Lobito and Industrial Units of the CIF Universe; in construction, Mota-Engil Angola, and in agro-industry, Fazenda de Sanza Pombo and Empreendimento do Cubal – Cubal Corn Flour Factory.

The official considered the implementation of Propriv to be positive, which has already reached a rate of 67 percent in relation to the planned total. According to Patrício Vilar, the program was designed for four years, of which "strictly speaking, not even three have elapsed".

"Because, in fact, we started at the end of 2019. So we have 2020, 2021 and a few months of 2019 and then, finally, the months that have elapsed until now in 2022. Considering this chronological fact, there is no doubt that we have a good execution rate", he stressed.

With regard to the amount collected to date, Patrício Vilar considered it significant. "Each time an operation is carried out on the stock exchange, this value tends to rise exponentially, for example, with the operation of BAI [Angolan Investment Bank] alone, almost 100 billion kwanzas rose, which means that we still have a margin of significant production as we carry out the operations on the stock exchange", he said.

According to the PCA of IGAPE, operations on the stock exchange are still foreseen for this year in the cases of Banco Caixa Geral Angola, TV Cabo and Sonangalp, which could eventually lead to a doubling of the amount collected in the near future.

However, Patrício Vilar stressed that the value cannot be dissociated from the nature of the assets and companies that were mostly sold, in the case of small amounts.

"Now we started with a greater number of companies from the first championship. We had already started this first championship with textiles, breweries, with Puma Energy as well, and now BAI joins and the companies that mentioned on the stock exchange, therefore, this value tends to increase significantly", he highlighted.

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