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Italy-Angola Forum kicks off in Milan

The Italian-Angolan Chamber of Commerce and industry and the investment and export promotion agency (AIPEX) will be holding a meeting in Milan to discuss privatisation. “The meeting, which could be attended by representatives of 50 national companies and 70 Italian companies, will be opened by the Secretary of State for international cooperation and the Angolan communities, Domingos Viera Lopes.”

Source: ANGOP

The government has decided to privatize seven public companies in the Special Economic Zone

To raise cash, the government has decided to privatize seven public companies in the Luanda-Bengo Special Economic Zone. This was announced by the director of the Angolan State Asset Management Institute , Gilberto Luther. “This privatization operation should be done through a public tender already launched and which will end on 31 March 2019.”

Source: La Tribune

Angola’s Sonangol to sell subsidiaries and non-core stakes

As part of an extensive three-part privatization program, the state oil company Sonangol wants to privatize 52 companies and two non-core asset portfolios by the end of next year. “The non-core subsidiaries and non-core stakes of Angolan state oil and gas company Sonangol will be part of the first and second phases of the country’s privatization program, an official said… The president of the Institute of Management of Assets and State Participation (IGAPE), Valter Barros, said that the sale of those Sonangol companies, between the last quarter of this year and 2020, will be followed by insurance, telecommunications, banks and transport companies, among others. Barros said the hotel and tourism sectors will also be divested (in particular hotel units set up for the African Cup of Nations in 2010), the management company of the Special Economic Zone (Viana) and companies located there, as well as companies in the agricultural sector (state farms and agribusiness industries).”

Source: Macauhub