Luanda: The Angolan state oil company Sonangol and TV Cabo have been excluded from the country's ambitious Privatization Program (PROPRIV), which initially listed 49 companies for privatization. Now, only 39 companies remain on the list of state assets to be sold, as the program proceeds with plans to sell state shares in ten companies.
According to Angola Press News Agency, the information was disclosed by Ottoniel dos Santos, the Secretary of State for Finance and Treasury, after a meeting of the Commission for the Privatization Program. The meeting was chaired by Jos© de Lima Massano, the Minister of State for Economic Coordination.
The companies that are still set to be privatized this year include Angola Telecom, Banco de Comercio de Angola, Endiama, Nova Cimangola, Standard Bank Angola, TAAG, Unitel, Grupo M©dia Nova, TV Zimbo, and the Special Economic Zone Development Society.
The Privatization Program, an initiative launched by the Angolan Government between 2019 and 2026, aims to reduce the state's role as an entrepreneur, promote private investment, enhance economic efficiency, and diversify the public business sector.
By the end of 2025, the initiative had generated a cash inflow of 700 billion kwanzas, from a contracted total of 1.275 trillion kwanzas, through 121 privatizations., the program has led to the creation and maintenance of at least 5,000 jobs.
