Angola reaped $1.13 billion from privatizing 96 state-owned companies to private investors

The Angolan government had planned to privatize 195 companies between 2019 and 2022, as part of a vast program of state disengagement from the productive sector. But the coronavirus pandemic has delayed the implementation of this program, and the number of assets to be sold has meanwhile been reduced to 178.

Angola has reaped 567 billion kwanzas ($1.13 billion) from the privatization of 96 public companies since 2019, Angolan Secretary of State for Finance and Treasury Ottoniel dos Santos announced on Tuesday (January 10th).

These companies were sold to private investors as part of a vast privatization program launched in 2019. Called “Propriv”, this program initially provided for the sale of State shares in 195 companies, but this number was later changed. reduced to 178 assets.

In an order by President João Lourenço published at the end of December last in the official journal, the Angolan authorities announced the sale in the coming months of 51% of the capital of the public airport operator Sociedade Gestora de Aeroportos to private investors.

Last September, the Institute for the Management of State Assets and Shareholdings (IGAPE) also announced that the State intends to sell its stakes in two real jewels of the Angolan economy, in this case the national oil company Sonangol and the Endiama diamond company, by 2027.

President Joao Lourenço, who offered himself a second five-year term after his party’s victory in the legislative elections held in August 2022, has promised to continue his program of economic reforms hailed by international donors, to diversify the economy. economy, attract foreign investment and create jobs.