ANGOLA plans to complete the sale of stakes in national oil company Sonangol EP and diamond firm Endiama within the next five years, according to the chairman of the government’s asset-management agency.
The two companies were the among the largest of 195 state-owned firms and assets the government initially earmarked for disposal between 2019 and this year. The onset of coronavirus pandemic delayed the process and the number of assets was revised to 178.
“We don’t know if Sonangol will be privatized in 2023, 2024 or 2025,” Patricio Vilar, the chairman of the Institute of Management of Assets and State Participations, and the driving force behind the privatization program, said in an interview in Luanda, Angola’s capital, last week. “What I can guarantee is that, if the market is ready, Sonangol and Endiama will be privatized” during the new government’s five-year term, he said.
Vilar reiterated the government’s commitment to
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