Government of Angola sells 53 factories to private investors

3 June 2016

By August the Angolan government plans to sell 53 industrial units located in the Luanda/Bengo Special Economic Zone (ZEELB), according to a presidential order published in the country’s official gazette.

The order authorises the “transfer of all shares representing the capital” of these industrial units to “private business entities with enough capital, knowledge and technology” to develop them, according to Portuguese news agency Lusa.

The process of selling the 53 companies to private entities, the order said, by the Ministries of Economy, Industry and Finance and the transfer process “must be completed within three months.”

Located 30 kilometres from the centre of Luanda, the ZEELB, a project until now managed by the Angolan State, involved a public investment of nearly US$80 million to install 73 factories and comprises seven industrial reserves, six agricultural reserves and eight mining reserves in a total area of ​​8,300 hectares between the districts of Viana, Cacuaco, Icolo and Bengo (Luanda), Dande and Ambriz (Bengo). (macauhub/AO)