Angola Cables and Angolan telecoms industry to be privatised

Angola Cables and rest of Angolan telecoms industry to be privatised

13 August 2019 | Alan Burkitt-Gray

Cover

The Angolan government is to sell stakes in 10 of the country’s telecoms companies, including Angola Cables, as part of a wide-ranging privatisation move.

The Diário da República – the country’s official journal – says that the government will sell 175 companies by public tender, 11 by public auction and nine by initial public offering.

Telecoms companies listed for whole or partial sale include subsea cable operator Angola Cables (see map), as well as Angola Telecom, Cable TV Angola, MS Telecom, Net One, Multitel and Unitel, as well as Angola Communications and Systems (ACS) plus ENCTA, the Angola National Post and Telegraph Company, and ELTA, the national phone book company.

The government also plans to sell the national airline, breweries, agricultural, textile and cement plants, plus banks and financial institutions.

The Diário da República report says 80 sales will be launched this year and 90 next year. Another 12 are due for privatisation in 2021 and four in 2022.

The announcement says revenues will be used to finance projects that serve the economic and social development of Angola.