The Angolan government contracted approximately one trillion kwanzas (€960.2 million) and received 640 billion kwanzas (€614.5 million) from the privatization of 103 assets over the past five years.
According to Álvaro Fernão, Chairman of the Board of Directors of the Institute for State Asset and Shareholding Management (IGAPE), the National Interministerial Commission of the Privatization Program (Propriv) held its first ordinary meeting today, during which it analyzed the 2024 Report, with a focus on the stock market privatizations planned for this year and other fixed assets.
From 2019 to 2024, one trillion kwanzas were contracted, of which more than 640 billion kwanzas were effectively received.
Álvaro Fernão highlighted that for this year, the stock market privatization of Banco de Fomento Angolano (BFA), Standard Bank, mobile operator UNITEL, and TV Cabo is planned.
“There has not yet been a decision to extend the privatization deadline. The preparation of these assets for stock market privatization is currently underway. At present, we have four assets lined up — this will be the year with the highest number of stock market privatizations since the mechanism was created,” the official emphasized.
The IGAPE chairman underlined that the BFA and Standard Bank stock market privatizations are expected to take place by the end of the first half of the year, “at most, two weeks later.”
“We’re planning a placement of around 300 billion kwanzas (just over €288 million) for BFA. This will be our largest placement since the beginning of this stock market privatization mechanism. The last one was 10% of BAI, around 40 billion kwanzas (€38.4 million),” he said.
In March, the Angolan state announced the privatization of 15% of its stake in BFA, with 1% reserved for the institution’s employees.
Originally scheduled for the 2019–2022 period, with a total of 195 public assets to be privatized, the PROPRIV program was extended to the 2023–2026 period through Presidential Decree No. 78/23 of March 28.
Source: Lusa
