The partial privatization of the shares that the Angolan State holds in BFA occurs in the context and following the schedule of the Privatization Program (ProPriv 2023-2026), says an order signed by the President, dated August 23, to which Lusa had access this Monday.
These shares must be sold through an operation on the Angola Debt and Stock Exchange (BODIVA).
Privatization is supported by the Basic Privatization Law, as stated in the order signed by President João Lourenço, who delegates the monitoring of the process to the Minister of Finance.
The State indirectly holds 51.9 percent of BFA's shares, through the telecommunications operator Unitel, and the remaining 48.1 percent of the bank's capital belongs to the Portuguese group BPI, which has previously tried to reduce its stake in this bank.
The State had announced, at the beginning of July, that it would reduce its stakes in the insurance company ENSA, Standard Bank and the Angolan Debt and Securities Exchange (BODIVA) by November this year, leaving the telecommunications company Unitel until 2025.
On the government portal, information previously provided by the deputy coordinator of the National Interministerial Commission for the Privatization Program (PROPRIV), Ottoniel dos Santos, was confirmed after a meeting of this body.
At this meeting, which took stock of the Privatization Program and which resulted in the proposal for a privatization strategy for a set of assets throughout this semester and 2025, including the sale of Unitel, Ottoniel dos Santos announced that the privatization strategy had also been assessed. privatization of the State's indirect participation in Banco Fomento Angola (BFA).
Initially scheduled for the period 2019-2022, with a total of 195 public assets to be privatized, PROPRIV was extended to the period 2023-2026, through Presidential Decree No. 78/23 of March 28.
