Workers will be able to buy 5% of Angola’s Infrasat

28 July 2017

Five percent of the shares representing the capital of state-owned Infrasat, Angola Telecom’s satellite telecommunications business unit that will manage the first Angolan satellite, will be sold on the stock exchange in an operation reserved for workers, according to a presidential ruling.

The decision stipulates that the company will be renamed Infrasat – Telecomunicações and that its capital will remain 40% in the hands of Angola Telecom and the remaining 55% will be distributed among private shareholders GAFP – Investimentos e Participações SA (30%), Lello SA (20%) and Macgra – Importação e Exportação SA (5%).

This change comes as Angola’s first satellite, AngoSat-1, the first Angolan satellite is due to go into orbit this year, and the presidential ruling said that this “requires the operation and marketing of its communications media resources,” allowing a “substantial improvement in the diversified provision of telecommunications services” to populations in areas of the country “not yet covered by electronic communications operators.”

The decision implies the de-allocation of Angola Telecom’s assets for satellite telecommunications, as well as the transfer of the respective employees to the staff of Infrasat – Telecomunicações SA.

Among other assets, Angola Telecom will transfer the land, buildings and equipment where the Talatona Terrestrial Station is located on the outskirts of Luanda to the new public-private company, as well as the Funda Terrestrial Station in the same province, for satellite communications.

The launch of AngoSat-1, under construction in Russia since 2013 after a decade of negotiations, is scheduled for the third quarter of this year, according to the latest announcement by the Angolan minister of Telecommunications and Information Technology.

AngoSat-1 will provide telecommunications, television, Internet and e-government services, and will remain in orbit “at best” for 18 years. (macauhub)