Africa-Press – Angola. The BTMT Industrial Unit, installed in the Special Economic Zone (ZEE), in Luanda, is the first company to be privatized this year, within the scope of the Privatization Programme, known as PROPRIV 2023-2026, which plans to sell 73 assets/shares from the State.
The privatization of this factory, dedicated to the production of low and medium voltage electrical equipment and appliances, marks the beginning of the second phase of PROPRIV, to run from 2023 to 2026.
Without advancing the value of the sale of the respective asset, the Secretary of State for Finance and the Treasury, Ottoniel dos Santos, said that the process of selling the other companies is taking place according to the schedule defined by that plan.
Speaking to the press, at the end of the second meeting of the National Interministerial Commission of PROPRIV, held this Thursday, in Luanda, the leader assured that, despite the macroeconomic scenario that the country is going through, the privatization program of companies and State shares will run its normal course.
He referred that today’s meeting, chaired by the Minister of State for Economic Coordination, José de Lima Massano, served to analyze the companies that have the conditions to be privatized later this year, as well as to evaluate the companies that need to better prepare for the its privatization.
He stated that the participants of the meeting also analyzed the mechanisms to be used for the privatization of national reference companies, such as Sonangol, BFA and Unitel.
Approved in 2019, through Presidential Decree no 250/19 of August 5, PROPRIV aims to reduce State intervention in the economy and promote business promotion, facilitating competition, competitiveness and efficiency of the national economy.
Initially scheduled to run in the period 2019-2022, the program covered a total of 195 public assets to be privatised, in the areas of telecommunications, industry, banking, oil, mineral resources, aviation, insurance, among others.
Of these, 175 would be sold through the public tender system, 11 through an auction on the stock exchange and nine through an initial public offering.
Among the companies that appeared on the list of assets, those of great references stand out, such as the oil company Sonangol, Transportadora Aérea Angolana (TAAG) and Endiama.
Due to the fact that the target was not met, the implementation of PROPRIV was extended to the period 2023-2026, through Presidential Decree No. 78/23 of 28 March.
The extension of the deadline is justified by the need to conclude the restructuring processes, which include the national reference companies, the emergence of new assets to be privatized through the share recovery process and the need to create a dynamic mechanism of privatization, according to that diploma.
With this, it is expected that for the defined period 73 assets will be privatized.
Last May, the Minister of Finance, Vera Daves de Sousa, announced that contracts signed through PROPRIV reached AOA 953.97 billion, of which the State had allocated, up to that point, Kz 568.77 billion.
This value resulted from the privatization of 92 State assets and companies. Of this number of undertakings, 11 are of national reference, 20 shareholding companies and assets of Sonangol, 30 industrial units of the ZEE and 31 other companies and miscellaneous assets.
According to the minister, the contracts signed guaranteed 2,763 direct jobs, with 1,233 new jobs and 1,530 maintenance jobs.
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