Sale of seven state-owned companies in Angola attracts 20 interested parties

24 April 2019

The Angolan State Assets and Investments Management Institute (Igape) on Friday is due to conclude its analysis of 20 proposals for the purchase of seven industrial units in the Luanda-Bengo Special Economic Zone, the Angolan press reported.

Daily newspaper Jornal de Angola, citing a source from the institution, reported that the proposals, after being analysed, “are expected to move on to bidding in a public tender, which should be completed by next May.”

The source said that during the period for presenting proposals, ended on 22 April, Igape received more than 60 expressions of interest from both Angolan and foreign investors, particularly from Portugal and Spain.

“Despite the interest shown, until the deadline Igape received just 20 concrete proposals,” said the source contacted by the newspaper.

Of the seven companies for sale, only one is in operation, with none of the others operating since the creation of the SEZ in October 2009, although they have machinery and equipment, and the sale 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. (Macauhub)