Luanda: President Joo Louren§o has formally approved the dissolution of the National Cement Company of Angola (Cimangola) through Presidential Decree No. 152/26 of 20 August. The decree states that 'there are no longer strategic reasons for maintaining the company within the Public Business Sector'.
According to Angola Press News Agency, the Institute for the Management of State Assets and Holdings (IGAPE) has been appointed as the entity responsible for the liquidation of Cimangola's assets on behalf of the State. This process is mandated to be completed within a maximum period of 12 months from the date the legislation entered into force.
All assets held by Cimangola will be transferred to and managed by IGAPE. Cimangola originated as an industrial project in 1954 and was formally incorporated in 1957, commencing cement production in the same year.
Following Angola's independence in 1975, the company came under State ownership. In the 1990s, it began a restructuring process involving private investment and, in 2005, adopted the name Nova Cimangola.
