Privatisation of companies in Angola safeguards jobs and state interests

23 August 2019

The privatisation process of public companies underway in Angola safeguards the jobs and interests of the state, said the the deputy coordinator of the technical group of the Privatisation Programme (ProPriv).

Patrício Vilar, speaking on the Angolan Public Television’s “Grande Entrevista” programme, quoted by the Angop news agency, said that greater business efficiency will increase the country’s Gross Domestic Product (GDP) while providing the population with work opportunities.

“The claim that privatisation will harm or undermine jobs is a myth because most of the companies to be privatised with minority state ownership are already run by the private sector,” he argued.

ProPriv’s assistant technical group coordinator also said that privatisation is not an end in itself, “but the beginning of a process to make companies and the national economy more efficient.”

Regarding the question of the possible loss of sovereignty in national reference companies, Vilar said that privatisations aim to use state resources more rationally in order to make economic activity increasingly liberalised and efficient.

The most well-known companies involved in this process are state oil company Sonangol, diamond company Endiama and airline TAAG, the BCI, BAI, BCGA and Banco Económico banks, as well as financial companies ENSA Seguros and the Angola Debt and Securities Exchange (Bodiva). (Macauhub)