Commission has 60 days to prepare list of companies to be privatised in Angola

27 February 2018

The commission set up to prepare and carry out the privatisation of public companies in Angola must submit the privatisation schedule, as well as the final report, within 60 days, according to a presidential order quoted by Angolan news agency Angop.

The order published in the official bulletin, Diário da República on 20 February reports that the commission’s work must achieve government-defined objectives, such as ensuring the integrity of strategic State sectors, ensuring the income of the public business sector, increasing the efficiency of the economy’s productivity and of businesses.

Promoting business development and strengthening national business capacity, ensuring maximised revenue from the privatisation process, promoting the stock market and boosting the activity of the Angolan capital market, and in particular the Angolan Debt and Securities Exchange Angola (Bodiva), are also among the commission’s objectives.

The commission will be coordinated by the Minister of State for Economic and Social Development, Manuel Nunes, who will include the ministers of Finance, Economy and Planning, the Secretaries for Economic Affairs, Finance and Treasury of the President of the Republic, as well as the chairmen of the Institute of the Public Business Sector (ISEP), the Capital Markets Commission (CMC), and Bodiva.

This commission is supported by a technical group coordinated by the Secretary of State for Finance and Treasury, Vera Daves, who will carry out the legal and financial assessment of eligible companies with the potential for privatisation on the stock exchange. Additionally the group will propose measures for restructuring and financial reorganisation, as well as the legal adjustments that eligible companies need to make ahead of the privatisation process. (macauhub)