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Sat, 26 Sep 2020 11:12 - Updated Sat, 26 Sep 2020 09:55

Privatisation yields over 10 % of GDP

Luanda - The 195 assets held by the Angolan State (partially or totally), which have been in the process of privatisation since August 2019, account for over 10 percent of the wealth generated by the country (GDP), the coordinator of the Technical Group for the Privatisation Programme, Osvaldo João said Friday.

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In an interview to ANGOP, the full text of which will soon be published, he said that, "from the tax revenue point of view, the privatisations of these companies represent one percent of the national GDP.

From the point of view of economic activity, he explained that they represent a considerable part, exceeding 5 to 10 percent of GDP.

The privatisation programme (PROPRIV), launched in 2018 by the Angolan government, plans to sell 195 assets wholly or partially owned by the state by 2022.

Since 2019, 14 assets have been sold to private individuals, mostly located in the Luanda-Bengo Special Economic Zone, allowing the state to collect 31 billion kwanzas.

By December of this year, according to official figures, the state has on its agenda to launch public tenders for the privatisation of another 51 companies.

Among the assets to be privatised are Sonangol, Endiama and TAAG, the commercial and industrial banks, Angolan Investment Bank, Economic and Caixa Geral de Angola, as well as ENSA Seguros and the Angolan Debt and Securities Exchange (Bodiva).

Also included are sales of stakes in Aldeia Nova and Biocom, the Textang II, Satec and África Têxtil factories, the Nova Cimangola and Secil do Lobito cement plants, the Cuca, Eka and Ngola breweries, and the Mota Engil Angola construction company.

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