Most of Angola’s leading companies will be privatised by 2020

20 September 2019

Most of Angola’s leading companies will be sold by 2020 through public tenders, the deputy coordinator of the privatisation programme’s technical group said in Luanda on Thursday.

Rui Vilar said that these companies will be sold through public tenders because they do not meet the requirements to be traded on the stock exchange, such as having their accounts audited without reservation.

These companies include ones in which the Angolan state has shares or stakes, such as Banco Angolano de Investimentos (8.5%), Banco de Comércio e Indústria (100%), Caixa Angola (25%), TVCabo (49%), Unitel (20%), Mota Engil (20%) and Biocom (20%).

Besides these, Vilar also said companies included in the privatisation process for next year, without specifying the percentage of shares held by the State, included cement company Nova Cimangola, Secil Lobito, NetOne, Angola Cable, Aldeia Nova, MSTelcom, Multitel , Textang, Satec, Africa Textile and Enana – which in this process will create a new company to be privatised.

The official said, according to the Angop news agency, that ENSA, Angola’s largest insurance company, will be sold this year, also through a public tender, as will the shares of about 1.0% than the Angolan state holds in the Cuca, N’gola and Nocal brewers.

Vilar, who is also the chief executive of the Angolan Debt and Securities Exchange, (Bodiva) stressed in his presentation that of the 195 companies covered by the ProPriv Programme, only 17 will be sold through the stock exchange, while 178 will be sold through public tender.

The 17 companies to be sold via the stock exchange, as their accounts are audited without reservation, include MSTelcom, ZEE, Multitel, Caixa Angola, Aldeia Nova, TAAG, Angola Cable, Sonair and Banco Económico.

In 2021 ProPriv plans to privatise Bodiva, Sonangalp, Angola Telecom, Angola Cable, Sonair, TAAG, Banco Económico and, in 2022, the last companies, namely the giant Sonangol, Endiama and Correios de Angola.

The meeting with entrepreneurs and potential investors, which on Thursday and Friday, opened with a speech by the Minister of State for Economic Coordination, Manuel Nunes Júnior. (Macauhub)

MACAUHUB FRENCH