Angola’s initial privatisation programme enabled the sale of 198 companies in 10 years

14 February 2012

Luanda, Angola, 14 Feb – The Angolan government will this year launch the second phase of the privatisation programme which in the last ten years has enabled the sale to private interests of 198 state companies, Economy Minister Abraão Gourgel announced.

Appearing in a Monday programme on Angola’s TPA television, Gourgel also lamented that the privatisation process started by the government in 1990 via its Business Readjustment Office had not achieved all of its goals.

“In 2011 we reviewed the privatisation programme and verified that it had enabled the sale of 198 companies, whereby the set goals were only very partially accomplished,” he added.

The low results are due to economic questions such as the lack of a capital market and social issues such as the lack of financial power to settle state debts, Gourgel said.

Despite these deficiencies, the experience has served to guide preparations for a new privatisation programme for this year and the near future, he specified.

Gourgel added that the total or partial privatisation of businesses and companies in the areas of fisheries, agriculture, industry, commerce, transportation, geology and mines, oil, construction and banks, among others, is taking place as part of the strategy to reorganise the Angolan economy. (macauhub)