Privatisation of state-owned enterprises in Angola will be conducted with “transparency and rigor”

1 April 2019

The process of privatisation of about 50 companies that the Angolan government intends to carry out this year will be conducted with “transparency and rigor,” the Institute of Management of Assets and State Participations (IGAPE) said.

The Ministry of Finance said in a statement that the guarantee was given by IGAPE director Gilberto Luther during a forum held in Luanda to present the advantages of investing in seven industrial units in the Luanda-Bengo Special Economic Zone, a process announced at the end of February.

Luther informed the forum participants that in assessing the proposals for the seven industrial units “due attention” will be given to investors who decide to keep workers.

The Special Economic Zone, created in October 2009 to stimulate the growth of the productive sector, is equipped with functional facilities that reduce operational costs, such as water and electricity supply.

The Angolan government plans to privatise about 50 companies in 2019, in phased processes, to stimulate private sector economic activity by reducing the state’s presence in the business sector, according to the president of the IGAPE Board of Directors, Valter Barros, also cited in the note. (Macauhub)

MACAUHUB FRENCH