Angolan Government To Sell Stakes In 195 Companies

The share capital held wholly or partially by the Angolan state in 195 different companies will be sold between 2019 and 2022, under the Privatization Program, published in the Diário da República official bulletin, quoted by Jornal de Angola.

The program states that 175 companies will be sold via public tender, 11 by public auction and nine through Initial Public Offering (IPO), with the government expected to launch public tenders this year for 80 companies as well as one IPO.

In 2020, 81 companies are due to be sold through public tender, six through auction and three via IPO, and in 2021 and 2022 the remainder will be sold.

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).

Other companies listed for privatization include Sonangol’s airline, Sonair, airport management company Sociedade de Gestão de Aeroportos and Sonangalp, a fuel distribution company that is 51% owned by Sonangol.