Angola plans to complete the sale of stakes in national oil company SonangolEP and diamond firm Endiama within the next five years, according to the chairman of the government’s asset-management agency. Moneyweb AfricaNews
Angola plans to complete the sale of stakes in national oil company Sonangol EP and diamond firm Endiama within the next five years, according to the chairman of the government’s asset-management agency. The two companies were the among the largest of 195 state-owned firms and assets the government initially earmarked for disposal between 2019 and this year. The onset of coronavirus pandemic delayed the process and the number of assets was revised to 178.
The sale of holdings in lender Banco Caixa Geral Angola SA, petrol-station network Sonangalp, cable company TV Cabo Angola and insurance firm ENSA are among those planned for this year. “We have to be careful not to flood the market,” said Vilar, a former head of the Luanda-based bourse, Bolsa de Divida e Valores de Angola. Sonangol and Endiama are contributing to the privatisation program by disposing of some of their own investment holdings.
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