Angola plans to promote stakes in its largest telecommunications firm, Unitel, and two lenders within the coming months to draw buyers, minister of financial coordination Jose de Lima Massano stated.
“Within the coming months, we’re privatising our telecommunications firm Unitel,” Massano stated in an interview on the World Financial Discussion board in Davos. “A part of it’s being achieved via the inventory alternate.”
Africa’s third-largest oil producer will even get rid of stakes in Banco de Fomento Angola, its second-largest lender, and Commonplace Financial institution Group’s native unit, he stated.
The three firms are among the many largest of virtually 200 state-owned corporations and property the federal government initially earmarked for disposal in 2019 to boost money and diversify the financial system away from oil.
Greater than half of these firms have since been privatised, the minister stated. “We have now determined to embark on a large programme to privatise state-owned entities. It’s taking place.”
Nonetheless, buyers desirous to spend money on the state’s oil firm Sonangol or its diamond agency Endiama should wait a bit longer.
“We’re nonetheless engaged on it, the will continues to be there. It’s current,” stated Massano. “The businesses require some inner work that’s being achieved by the administration in order that after they come to the market they ship what was promised.”
Efficiency
As for Portuguese lender Banco Comercial Portugues and oil firm Galp Energia SGPS, the federal government will retain its stakes, stated Massano.
It holds 19.5% of BCP via Sonangol and an oblique stake in Galp via the Amorim Energia enterprise, which owns 37% of the Portuguese oil agency. Each BCP and Galp have considerably elevated their market worth over the previous yr by about 88% and 25% respectively.
“The efficiency of these property is optimistic,” stated Massano. “We see no want or have any strategic purpose at this level to depart these entities.” — Henrique Almeida and Cagan Koc, with Candido Mendes, (c) 2025 Bloomberg LP
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