Africa-Press – Angola. The amount transferred to the Single Treasury Account (CUT), resulting from the privatization of State assets and holdings, is 59.9 billion kwanzas, around 10% of the 568.7 billion allocated so far with the sale of companies and State holdings, within the scope of the Privatization Program (PROPRIV).
Of the 568.7 billion PROPRIV received to date, 105.6 billion went to Sonangol, 6.9 billion to other state entities (unspecified) and 396.3 in exchange for assets.
These data were provided yesterday by the Chairman of the Board of Directors (PCA) of the Institute for the Management of Assets and State Participations (IGAPE), Patrício Vilar, in the presentation of the extension of the Privatization Program for the period 2023-2026. PROPRIV had been created for the period 2019-2021.
On the occasion, the manager explained that so far 568.7 billion of the 953.9 billion contracted have been received, with 385.2 billion kwanzas still to be received.
According to the official, the default value of PROPRIV is estimated at 6.7 billion, representing 1.2%, with 14 contracts in default.
He highlighted the fact that five stock exchange processes had yet to be concluded, with three having been carried out (2019-2022).
The 2019-2022 Privatization Program was approved through Presidential Decree no 250/19 of 5 August, with the main objective of promoting more favorable conditions for the private sector, private investment and the acquisition of know-how and specific skills for the restructuring and resizing of the Public Business Sector (SEP).
The Government extended the privatization process of around 73 assets in the 2023-2026 period, less than the 93 companies registered between 2019-2022.
The forecast is set out in Presidential Decree No. 78/23 of 28 March, which approves the extension of the period of execution of the Privatization Program – PROPRIV, for the period in question.
The extension of the deadline is justified, according to the aforementioned Decree, by the need to complete the restructuring processes which include national reference companies such as Sonangol and the National Diamond Company, Endiama, which have redefined their scope of activity from dealerships.
It is also due to the emergence of new assets to be privatized through the asset recovery process and the need to create an active privatization mechanism during the period of reform of the Public Business Sector (SEP).
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