Public and private clients owe US$15.8 million to Angola Telecom

7 March 2019

The debt contracted by public and private companies to Angola Telecom totals 5 billion kwanzas (US$15.8 million), a member of the management committee said on Wednesday in Luanda.

Bartolomeu Pereira, who said the company has 50,000 customers in its database, of which only 20,000 pay for the services rendered, said that the clients in question are being contacted in order to pay outstanding debts so that the process can be concluded ahead of Angola Telecom’s privatisation.

The official, quoted by the Angop news agency, said that the privatisation of the company will start this year, and the process of valuing assets and property is being finalised.

The member of the management committee also said that potential investors would find in Angola Telecom an asset that includes people, investments made by the State totalling around US$80 million, a mobile telephony license, a presence across the entire country and physical infrastructure.

Pereira acknowledged that the financial situation of Angola Telecom “is not the best.”

Angola Telecom is a public telecommunications and multimedia company founded in 1992 by Decree 10/92 of 6 March, as a result of the merger of formerly state-owned companies Enatel (Empresa Nacional de Telecomunicações) and Eptel (Empresa Pública de Telecomunicações) and owns a global license to operate several services, including mobile telephony.

The company is being run by a management committee appointed on 29 November 2018 to conduct a restructuring process, which will end with the sale of 45% of the company. (Macauhub)