Angola: China Sonangol International Privatisation May Begin This Year

Angola: China Sonangol International Privatisation May Begin This Year

Luanda– The selling process of the oil company (Sonangol)’s stake in China International Holding (CSIH) might start this year, according to the Privatisation Program (Propriv) underway in the country.

Created in 2004, China Sonangol International Holding has actually been based in Hong Kong, considering that September 6, 2012.

Data put together by ANGOP show that CSIH is owned by Dayuan International Development Limited (70 percent), with the Angolan business holding a 30 percent minority stake.

The oil company will likewise start disinvestment at China Sonangol International Limited, according to the privatisation schedule of the assets and stakes held by the oil company in Angolan and foreign business, provided at a method workshop in 2019, this year.

Still, 2021 programme includes the disinvestment process at Empresa Nacional de Combustíveis e Óleos S.A (ENCO), based in São Tomé and Príncipe.

Angolan oil business is expected to sell 70 possessions, in a list of 195 business and properties to be privatised by 2022.

Of this number, 50 are under direct control of its administration.

In addition to Angola, Sonangol’s possessions and holdings are discovered in Portugal, the United States, France, the United Kingdom, Gibraltar, the Cayman Islands, Bermuda, Ivory Coast, Singapore, Cabo Verde and Panama.

Of the 195 possessions and holdings in different branches, the provisional figure pointed to the sale of 36 properties and built up agreements till December.

The procedure permitted the collection of 355 billion kwanzas in privatisations.

In November 2020, the Secretary of State for Finance and Treasury and Planner of the Propiv Technical Group, Osvaldo João, who was talking to ANGOP on behalf of the Angolan State, revealed extremely concrete actions in 2021 towards the privatisation of assets and holdings.

The state expects the companies to have their begun privatisation procedures of 195 assets and involvements, to be introduced in this period of 2022.

Among the privatised companies, through public tender, consist of 13 commercial units found in the Special Economic Zone (SEZ) Luanda-Bengo, whose awards led to AKz 30 billion contracts.

In addition, 12 agro-industrial enterprises were granted in public tender, consisting of 2 silos and a tomato processing plant in Dombe Grande in Benguela.

Just 2 contracts of the above pointed out facilities, for instance, raised a total of 2 billion Kwanzas.

The remaining 9 possessions were not granted in electronic auctions or for other rules of procedures in the Privatisation Law.

The list of business to be privatised consists of the “giants” TAAG – Angola Airlines, ENSA – Angola Insurance, Bodiva – Angolan Securities Exchange, and other business in the transport sector, mining resources, telecommunications, in addition to the monetary sector.

Developed in 2004, China Sonangol International Holding has actually been based in Hong Kong, given that September 6, 2012.

Information assembled by ANGOP indicate that CSIH is owned by Dayuan International Advancement Limited (70 percent), with the Angolan business holding a 30 percent minority stake.

The oil company will also start disinvestment at China Sonangol International Limited, according to the privatisation schedule of the possessions and stakes held by the oil company in Angolan and foreign companies, provided at an approach seminar in 2019, this year

Still, 2021 programme consists of the disinvestment process at Empresa Nacional de Combustíveis e Óleos S.A (ENCO), based in São Tomé and Príncipe.

Angolan oil company is anticipated to offer 70 assets, in a list of 195 companies and possessions to be privatised by 2022.

Of this number, 50 are under direct control of its administration.

In addition to Angola, Sonangol’s assets and holdings are found in Portugal, the United States, France, the United Kingdom, Gibraltar, the Cayman Islands, Bermuda, Ivory Coast, Singapore, Cabo Verde and Panama.

Of the 195 assets and holdings in various branches, the provisional figure pointed to the sale of 36 possessions and accumulated contracts till December.

The process enabled the collection of 355 billion kwanzas in privatisations.

In November 2020, the Secretary of State for Financing and Treasury and Organizer of the Propiv Technical Group, Osvaldo João, who was speaking with ANGOP on behalf of the Angolan State, revealed extremely concrete actions in 2021 towards the privatisation of assets and holdings.

The state anticipates the business to have their begun privatisation procedures of 195 possessions and participations, to be launched in this duration of 2022.

Amongst the privatised companies, through public tender, include 13 industrial systems found in the Unique Economic Zone (SEZ) Luanda-Bengo, whose awards led to AKz 30 billion agreements.

In addition, 12 agro-industrial enterprises were awarded in public tender, consisting of two silos and a tomato processing plant in Dombe Grande in Benguela.

Simply two agreements of the above mentioned facilities, for instance, raised an overall of 2 billion Kwanzas.

The staying nine assets were not granted in electronic auctions or for other guidelines of treatments in the Privatisation Law.

The list of business to be privatised includes the “giants” TAAG – Angola Airlines, ENSA – Angola Insurance, Bodiva – Angolan Securities Exchange, and other business in the transportation sector, mining resources, telecoms, in addition to the monetary sector.

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