Angola’s Endiama announces privatisation of hotel and logistics company in 2020

15 January 2020

Hotel Diamante and the Enditrade company will be privatised this year, announced in Luanda the president of Angola’s state diamond company, Endiama.

José Manuel Ganga Júnior, who was presenting diamond sector results for 2019, said that Endiama would not guarantee job would be kept at the two ventures.

Endiama holds 70% of the shares in Hotel Diamante and 50% in Enditrade – the logistics arm of mining sub-sector.

The president of Endiama also said that security services company Alfa 5 will be kept within the group, but its stake would be reduced from 70% to 30%.

The Sagrada Esperança Clinic, located on Luanda island, will not be privatised, as it operates like “health insurance”, providing medical care and medication to employees of the company.

Endiama is a public company focused on the prospecting, discovery, exploration, cutting and sale of diamonds, and is involved in 12 diamond projects located in the provinces of Lunda Norte and Lunda Sul and Kwando Kubango, in which it holds stakes ranging from 20% to 51%. (macauhub)