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IGAPE approves sale of four industries in economic zone

Wed, 09 Sep 2020 14:43 - Updated Wed, 09 Sep 2020 14:42

Plastic industry in ZEE (file)

Photo: Rosário dos Santos

Luanda - Angola’s State Assets and Stake Management Institute (IGAPE) approved four technical and financial proposals in the first phase of the privatisation process of 13 industrial units in the Special Economic Zone (ZEE) Luanda-Bengo.

Announcing the decision, IGAPE’s commission of negotiation said that the new sales will enable the Angolan State to net a global amount of 14. 015 billion Kwanzas.

The "package" includes proposals for the acquisition of Mongotal (metallic towers industry), worth Akz 6.6  billion, and Galvanang (hot dip galvanizing industry), estimated at Akz 1.6 billion.

The two factories were acquired by the company Anglobal (commerce, industry and services).

Likewise, the negotiating commission approved the financial and technical proposal of Vedatela - (Wire fencing industry) worth 4.5 billion kwanzas, acquired by Ferpinta - Angola, and Induplast (plastic bags) Akz 1.022 billion.

This fourth factory was acquired by  Angolallbox, Lda, ANGOP learnt from of a source linked to the process.

The negotiation commission is discussing the financial and technical proposals of the remaining nine industrial units.

"The process of negotiating proposals from nine competing units is also taking place, in order to adapt their offers to the interval defined by IGAPE", the document reads.

The announcement by IGAPE said that the industrial units are Indupackage, linked to the manufacture of metal packaging, Betonar (pre-packaged and pre-stressed concrete), Galvanang (hot galvanization), Inducarpin (carpentry).

The list also includes Indutive (paint and varnish industry), Pipeline (PVC pipe industry), Telhafal (metal tile industry), Transplas (PVC accessories industry), Absor (absorbent industry) and Sacoango (cement bag industry).

Since 2019, the Angolan State has sold 14 companies, as part of the privatisation programme (private), which allowed the collection of 31 billion kwanzas.

The privatized factories are mostly located in the Luanda-Bengo Special Economic Zone.

Until December of this year, the State plans to privatise another 51 companies, which may allow the collection of at least 100 billion kwanzas.

The privatisation process of assets include Sonangol, Endiama and TAAG, the Commerce and Industry, Angolan Investment, Economic and Caixa Geral de Angola banks, as well as the Insurance company ENSA and the Angola Debt and Securities Exchange (Bodiva).

The list also covers Aldeia Nova and Biocom, the Textang II, Satec and África Têxtil factories, the Nova Cimangola and Secil of Lobito cement companies, the Cuca, Eka and Ngola breweries and the construction company Mota Engil Angola.

Still the list includes the sale of stakes in telecommunications companies, namely in Unitel, MS Telecom, Net One, Multitel, Angola Telecom, TV Cabo Angola, Angola Cables, Angola's National Post and Telegraph Company (ENCTA), Angola Comunicações e Sistemas (ACS) and Telephone Directory Companies of Angola (ELTA).

Other companies to be privatized are Sonair (a branch of Sonangol), the Airports Management Society (SGA, which replaces Enana) and Sonangalp, a 51 percent owned fuel distributor by the Angolan state oil company.