Study proposes privatization of 77 Angolan state companies and closure of 53

23 March 2006

Luanda, Angola, 23 March – A study ordered by the Angolan government has found that the restructuring of the Angolan public sector, which currently covers 216 companies, should keep just 41, while 77 should be privatized and 53 closed down, Portuguese news agency Lusa reported.

The report, which was drawn up by CESO, a Portuguese consulting company, and ordered by the Angolan Finance Ministry, was presented in Luanda.

The analysis of Angola’s public sector companies began in January 2005 and the complete work is due to be completed by May 2006, when conclusion will be presented to the Finance Ministry, which will then submit them for discussion by the Cabinet.

To draw up the study CESO analyzed 216 public sector companies, 102 of which in the industrial sector, 29 in transport, 24 in construction and public works.

Amongst the 216 companies, 78 are awaiting privatization as part of an Angolan government program, 56 are not currently operating and a further six have reduced activities.

Under the terms of this proposal Angola’s public sector companies would be limited to strategic areas, companies that carry out activities barred to the private sector, companies that provide fundamental public services and companies that ensure the ownership of essential infrastructures. (macauhub)