(I minute read)
· The government of Angola has embarked on an intense
privatization drive and many public enterprises are either fully
privatized or divesting part of its stakes
· The privatization move, started last year, is expected to be
completed by 2022.
The government of Angola has embarked on an intense privatization
drive and many public enterprises are either fully privatized or
divesting part of its stakes. Presently, there are 195 companies kept
for bidding and is still counting. This has to be seen in the context
of companies for sale last year, which was only 74, an increase of 121
companies this year. It may be noted that a sizeable number of public
enterprises are running on losses in the western African country and
many of the hydrocarbon related enterprises, experts feel, could have
made more profits if they are run more professionally. The
multilateral organizations like IMF, World Bank, IFC etc are also
insisting on a private sector –led growth model. The privatization
move, started last year, is expected to be completed by 2022. The
Angolan government is committed to spend the money realized through
the sale of public enterprises for people centric programs and
investing in capital assets.
