Africa-Press – Angola. On 25 October, the State Assets and Participation Management Institute (IGAPE) cancelled the limited competition by Pre-Qualification No. 04/2024, open for privatization in the form of transfer of the right to operate and manage the CIF industrial units and CIF Logistics Center, located in Luanda.According to a statement from IGAPE, the cancellation occurs due to the publication of Presidential Order No. 250/24, of October 25, and concerns the Cement factories (CIF Cimento), the Logistics Center (CIF Logística) lot 1, the beer factory (CIF Lowenda) lot 2 and the automobile assembly plant (CIF CSG Automóveis), lot 3.
The note states that the aforementioned procedure was triggered under Presidential Order No. 1/24, of January 11, within the scope of the Privatization Program (PROPRIV), approved by Presidential Decree No. 250/19, of August 5, and extended by Presidential Decree No. 78/23, of March 28, and in accordance with the expression of interest of potential national and foreign investors.
After the end of the phase foreseen in the tender Procedure Program and considering the specificity and type of assets in question, with an approach to the pressing need for intensive capital for the operationalization of the Industrial Units, the note continues, the State redefined the modality of privatization of the assets, in order to allow their sale.
Therefore, according to the note, the procedure in perspective will continue through the holding of a Limited Tender by Prior Qualification, with the particularity of materializing in the form of Asset Sale, via Electronic Auction, whose prior qualification criteria will allow the application of national and foreign investors.
PROPRIV is part of the process of restructuring and resizing the Public Business Sector (SEP), through the reduction of the State’s influence on the economy, with a view to promoting macroeconomic stability, increasing the productivity of the national economy and achieving a more equitable distribution of national income.
The Angolan government plans to privatize a total of 33 assets between 2024 and 2025, 14 by November of this year and 19 next year. Sales open to the public will be carried out on the stock exchange, that is, through an Initial Public Offering (IPO).
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