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Energy

Sonangol in the third position in the ranking of the largest companies in Africa

More than five hundred institutions from various sectors made up the candidate list for the top of the largest companies in Africa. In highlight, the oil company Sonangol, which reached the third place in the count.

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The classification, attributed by the magazine 'África Report', includes only two companies in a higher position than the state oil company. They are also the oil company Sonatrach (from Algeria), which occupies the first place in the ranking, and Steinhoff International Holding, from South Africa, which operates in the wood and paper production sector.

Sonangol thus asserts itself as the third largest company on the continent, according to the publication. Regarding the distinction, Sebastião Gaspar Martins, president of the company's Board of Directors, said that the publication of the magazine's annual ranking is in line with the institution's vision of becoming a reference in the oil sector of the African continent.

"And it is, without a doubt, a great stimulus for the company's restructuring agenda, making it stronger, in the face of the challenges that arise, improving its organization, with a view to obtaining better financial results", he told Angop .

The official also said that the restructuring program for the state oil company will now move to the 'Horizonte 2017' project, with which Sonangol intends to position itself as an economic actor of the utmost importance, both in Angola and in Africa.

"The dedication of all our stakeholders is important, particularly for our employees and our only shareholder, the Angolan State", he said.

Sebastião Gaspar Martins also said that the intention is to make the 'new' Sonangol a source of pride for Angolans, now and in the future.

This Tuesday, the oil company took stock of the Company's Regeneration Program, which started two years ago, on November 15, 2018.

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