The Angolan government has announced a sweeping plan to privatise 73 state-owned assets and companies by 2026, a move aimed at bolstering the country’s economic productivity and attracting private investment.
The Secretary of State for Finance and Treasury, Ottoniel dos Santos, revealed that key privatisation processes for companies such as ENSA (insurance), Unitel (telecommunications), TV Cabo, and Banco de Fomento Angola (BFA) will kick off this year, utilising initial public offerings (IPOs).
Expanding to Diamonds, Oil, and Airlines
Looking forward to 2024, privatisation efforts will extend to stakes in Angola’s diamond company Endiama, state oil giant Sonangol, and Bodiva, the Angola Debt and Securities Exchange. National airline TAAG and Aldeia Nova are also set for privatisation, marking significant strides in the government’s efforts to transition strategic industries to private ownership. These moves underscore Angola’s commitment to revitalizing its economy and promoting competitive markets.
Reviving Strategic Sectors
Key assets in industries such as logistics, transport, brewing, and cement are also slated for privatization. Efforts are underway to restore these units to production, enabling them to better serve the national economy. Among these assets, 31 processes are expected to be finalized by the fourth quarter of 2024, while additional privatizations include Sonangol subsidiaries, industrial units in the Special Economic Zone (ZEE), and other national reference companies.
Boosting Investor Confidence
The Propriv 2023-2026 initiative reflects Angola’s broader economic reforms, aiming to enhance transparency, attract foreign investment, and modernize critical sectors. With IPOs and stock exchange privatizations as core strategies, this ambitious program promises to reshape Angola’s economic landscape, unlocking opportunities for both domestic and international investors. The success of these privatizations will play a pivotal role in accelerating Angola’s economic diversification and fostering sustainable growth.
Lusa
