The assets and businesses of Cape Verdean state companies, Aeroportos e Segurança Aérea (ASA) and Electra will be valued ahead of their privatisation, Cabo Verde’s (Cape Verde’s) Finance Ministry said in a statement issued on Thursday.

The valuation work will be carried out by companies selected as part of an international tender launched in 2016 and financed by the African Development Bank, costing 329,800 euros for state power company Electra and US$298,172 for airport and air safety company ASA.

The official statement noted that the valuation of assets and businesses is a mandatory step in the process of opening up the capital of state-owned companies and subsidiaries, whether through concessions, privatisations or public-private partnerships.

The valuation work should be completed in the second half of 2017 and coordinated by the State Business Sector Monitoring Unit (UASE), the statement said.

The valuation will be made under the resolution approving the privatisation, concessions and public-private partnerships agenda of 23 public and state-owned companies.

In addition to ASA and Electra, the government of Cabo Verde intends to privatise several other companies by 2021 and raise a total of around US$100 million. (macauhub)