Africa-Press – Angola. The president of IGAPE, Álvaro Fernão, revealed at the Doing Business Angola conference that the privatization program in the country is in a new active phase until 2026, with emphasis on the tourism, banking and telecommunications sectors.
The Angolan Government is preparing a new phase of its privatization program, with 41 strategic assets ready to move forward by 2026, revealed the Chairman of the Board of Directors (PCA) of the Institute for the Management of State Assets and Participations (IGAPE), Álvaro Fernão, during the third edition of the event “Doing Business Angola”, organized by Forbes Africa Lusófona and Jornal Económico.
Since the program began in 2019, according to Álvaro Fernão, 110 assets out of the 163 initially identified have been privatized. Of the remaining total, 12 assets are expected to be excluded from the program, with a new presidential decree expected to be published in June that will include this update.
This privatization program has been implemented “in difficult times for the economy,” recalled Álvaro Fernão, such as the pandemic and the war in Ukraine. Now, according to the CEO of the Institute for the Management of State Assets and Participations, “we have some global economic trends that we see as opportunities, this time, to leverage the next assets that we have to privatize.”
Among the assets already privatized in the first half of 2025, the largest cement factory in the country stands out, with an annual capacity of 3.6 million tons (transaction valued at around 180 million euros), the CIF brewery and an automobile assembly unit, with a total turnover of over 220 million dollars.
BFA advances to the Stock Exchange
One of the main operations planned for the short term is the listing of Banco de Fomento Angola (BFA), considered by Álvaro Fernão as “the largest operation since the beginning of the stock exchange program”. It is estimated that this operation, scheduled for the end of June or beginning of July, will involve around 200 million euros, with the placement of 29.75% of the bank’s capital — of which 15% belongs to BFA itself and 14.75% to BPI.
The operation will be open to non-resident investors, with the support of the General Tax Administration to guarantee the issuance of provisional NIFs and tax representatives.
Tourism sector is a clear bet
Tourism, which currently represents only 1% of Angola’s GDP, is also a priority area. “We want to get closer to the regional average of 3% and other geographies that reach 10%”, said the CEO of IGAPE.
In this context, eight hotel units will be made available for privatization in June/July, including the IU Hotels (3-star category with 60 rooms) and the Aparthotel Bina in Soyo, with 21 floors and capacity for 333 guests.
The privatization will be carried out through the management and exploration model with a purchase option, requiring a deposit of 10% to 15% of the estimated value of the assets (between two and four million euros), and providing for annual payments and royalties on sales.
“The objective is to maintain jobs for at least two years and professionalize the sector with a focus on valuing human capital,” explained Álvaro Fernão.
More stock market operations by 2026
Other IPO (Initial Public Offering) operations are also planned. TV Cabo is expected to go ahead in the third or fourth quarter of 2025. Unitel, Sonangol, Endiama, Cimangola and SGA (airport management) are being prepared for 2026.
The assets also include TV Zimbo and the Medianova Group, currently under discussion regarding the best time and model for disposal.
Álvaro Fernão ended his speech at Doing Business Angola by leaving a challenge to the audience of more than 300 participants at the event saying that: “the privatization program in Angola is open to foreign and non-resident investors”, so partnerships and exchange of experiences are welcome to boost the Angolan economy.
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