Angola’s Privatisation Programme (Propriv) foresees that the sale of the National Fuel Company of Angola’s (Sonangol) stakes in the China Sonangol International Holding (CSIH) may start later this year.
Created in 2004 and Hong Kong-based since 2012, CSIH is majority-owned by Dayuan International Development Limited (70%), while Sonangol owns a 30% stake. As listed in the privatisation schedule of assets and stakes held by the Sonangol in Angolan and foreign companies, which was presented at a methodology seminar three years ago, 2021 is the year the oil company will start divesting in CSIH as well as in the Empresa Nacional de Combustíveis e Óleos S.A (ENCO), in São Tomé and Príncipe.
As per Propriv, Sonangol lists 195 companies and assets to be privatised by 2022 and is expected to shed off some 70 assets, at least 50 of which are under the direct control of its administration.
Sonangol’s assets and holdings are spread across several countries, in addition to Angola, such as Portugal, the United States of America, France, the United Kingdom, Gibraltar, the Cayman Islands, Bermuda, the Ivory Coast, Singapore, Cape Verde and Panama.
From the list of 195 assets and holdings in various branches, provisional figures up until December 2020, pointed to the sale of 36 accumulated assets and contracts. This process allowed the collection of Kwz 355 billion (€448M) in privatisations.
In November 2020, the Secretary of State for Finance and Treasury and Coordinator of Propriv’s Technical Group, Osvaldo João, said, in an interview with ANGOP, that the Angolan State will take very concrete steps towards privatisation of assets and holdings in 2021.
Some already privatised projects include 13 industrial units located in the Luanda-Bengo Special Economic Zone, whose contracts yielded contracts signed in 30 billion Kwanzas (€37,8M), as well as 12 agro-industrial projects, all through public tenders.
The list of companies to be privatised include the country’s airline TAAG – Linhas Aéreas de Angola, insurance company ENSA, Bodiva – Angola’s Securites Exchange, and other companies in the transport, mining, telecommunications, as well as the financial sector.