Angop - Agência de Notícias Angola Press

Endiama to privatize Diamante Hotel and Enditrade

Tue, 14 Jan 2020 20:24 - Economy

Luanda - Luanda's Diamond Hotel and Enditrade will be privatized this year, announced the Endiama EP Group's CEO, José Manuel Ganga.

  • Edificio sede da Endiama, em Luanda

José Manuel Ganga, who revealed this information during the review of the activities of the National Diamond Company of Angola (Endiama) of 2019, said that Endiama will not guarantee the maintenance of jobs in both projects.

Endiama owns 70 percent of the shares in Hotel Diamante and 50 percent in Enditrade - the logistic part of the mining subsector.

Although there are some operational issues to be addressed, José Pedro Ganga said he believes that, in relation to the hotel unit, this year, it will leave the Endiama universe.

“The same will happen to the Logistics subsidiary Enditrade, which is also in privatization list.

With regard to the security service provider, “ALFA 5”, according to the country's largest diamond company manager, the objective is to continue to maintain it in the Group, taking into account the type of company and particularity of Endiama's product, but through a minority interest, reducing capital from 70% to 30%.

As for the Sagrada Esperança Clinic, located on Luanda Island, the proposal is not to privatize.

According to the manager, Sagrada Esperança is expected to stay 100 percent with Endiama because it acts as “health insurance”, providing medical assistance to the company's workers.