Luanda – The CEO of the Management Institute of State Assets and Participation (IGAPE), Patrício Vilar, on Thursday highlighted the continued recovery of the public telecommunication company Angola Telecom and the company’s work in negotiating with customers and suppliers.
Vilar, who made the statements at the end of a working meeting between IGAPE and Angola Telecom, said the recovery aims to "clear up a history that Angola Telecom possesses a significant liability”.
According to Vilar, Angola Telecom currently has positive net results, although there is still a lot of work to be done.
"There is investment that needs to be better coordinated with other market players. It does not make much sense for us all to build fibre optic networks in the same place", the IGAPE CEO said.
The IGAPE head stressed the need for inter-coordination work between the various companies that have used fibre optics, underlining that these companies are not necessarily from the telecommunications sector, but also of the energy, water distribution and railways sector.
Asked about the privatisation of Angola Telecom, the IGAPE CEO said this could not be done via the stock exchange (at least at this stage), due to the company's economic and financial situation.
"First we need to follow the path, namely reduction of the discrepancies found by the external auditor, and also of reducing the liabilities that the company has", Vilar said.
The IGAPE official stressed that Angola Telecom currently has not only liabilities, but also debts with customers.
Angola Telecom CEO, Adilson dos Santos, on his turn, said the concerns presented to IGAPE were related to the company's history, liabilities and the best way to resolve them.
Asked about the weak presence of the Angola Telecom, Santos said the company is operating in niche markets, as wholesale, corporate and residential.
IGAPE visited Angola Telecom as part of the programme to monitor public business sector companies. LIL/AC/Amp/jmc
