The privatisation of seven companies in Angola attracts more than 60 investors

4 April 2019

The privatisation of seven industrial companies in Angola has already attracted the interest of more than 60 national and international investors, said the chief executive of the Institute of Assets and State Participation Management (IGAPE).

Gilberto Luther, speaking at a briefing on the privatisation of the first seven industrial units located in the Luanda-Bengo Special Economic Zone, said that most of the interested parties are of Angolan nationality.

“Portuguese and Spanish investors were also interested in the potential acquisition of these industrial units,” added the Luther.

Of the seven companies for sale, only one is in operation, with no others operating since the creation of the EEZ in October 2009, although they have machinery and equipment, and their sales prices range from US$3 million to US$18 million.

The Angolan government plans to raise at least US$80 million from the sale of the first seven companies of a total of 52 industrial units located in the Luanda-Bengo Special Economic Zone.

Angola approved legislation on privatisations in 1994 to increase the efficiency, productivity and competitiveness of the Angolan industry. Between 2001 and 2005, the government identified 102 companies for total or partial privatisation, as part of a process that was not completed. (Macauhub)