Ver Angola

Politics

Vera Daves says that Sonangol will really be privatized but only as soon as "the house is fixed"

Vera Daves guarantees that the Government maintains its commitment to the privatization - partial - of Sonangol, to take place as soon as the house is "tidy up" and another fifty assets in 2022. In an interview with Portuguese newspaper Jornal de Negócios, the finance minister also speaks debt needs of the country and the IMF, to which the Government does not consider “to say goodbye”.

:

Sonangol is one of the central themes of the interview given by Vera Daves, who guarantees that the Government remains committed to privatization, stating that the starting point for decarbonization is the country's macroeconomic stability and the creation of a good business environment.

Having already confirmed the Petroleum Ministry that the privatization of the oil company will not take place in 2022, the minister says that "the political will remains", despite Sonangol being a "very complex" company. "For a long time it has created several branches and tentacles, if I may use that expression, and now what it is doing is tidying up the house," she said.

At the same time, there are 41 assets privatized or sold, and others in the process of transferring management (such as Kero). Of this total, the responsible for the Ministry of Finance accounts for 1.2 billion euros in revenue, and "about half has already been paid and the other half is being paid in instalments".

The privatization plan continues, with a positive balance so far, she says. The ambition is also maintained, according to Vera Daves de Sousa, who plans to privatize another 40 assets by the end of the year, such as BCI and ENSA, whose processes should still be concluded in 2021.

For 2022, the intention is to follow the plan, with privatization forecasts pointing to 50 assets. Names like BAI, TV Cabo, Caixa Angola, Mota-Engil Angola or Multitel are on the table.

With regard to the presence of the International Monetary Fund (IMF) in the country, the minister speaks of "new forms of collaboration and cooperation", pointing to a "decision" for the end of this year. She guarantees, however, that "saying goodbye to the IMF is not something we are considering".

Also as had already been announced, Vera Daves confirmed the country's return to the markets. The debt requirement is around 11.8 billion dollars, which will be divided into "various sources of financing, issuance in the domestic market, Treasury bonds, financing disbursements and also going to the markets", she says.

Related