Edson Pongolola, director of the planning and control department at the flag oil company, said that the process will not be completed next year.
"Sonangol's privatization exercise does not end in 2022", he said, adding that it could "extend for as long as it takes to adjust the company's attractiveness, the market conditions, so that it is prepared to be privatized on a national and international stock exchange".
The official, in statements to Rádio Nacional de Angola (RNA), underlined that the privatization process should not start at 30 percent, but with smaller percentages: "It should not necessarily start with 30 percent, because it is a complex exercise , but it could start with privatizations at lower percentages depending on the attractiveness of the proposals".
He also made it known that the prospects are to "maximize revenue from the sale of these assets (...), to ensure that we manage to sell all these assets above their cost", so that the "next owner does not feel harmed by the market situation".
Edson Pongolola also assured that these are assets and businesses "with some solidity, they are able to continue".
