Angola Telecom will continue to focus on its restructuring plan, before its privatization, according to the words of its Chairman of the Board of Directors (PCA), Adilson Santos.
The PCA, who was speaking about the current situation of the public telecommunications company, informed that it is getting back on its feet, solving, for example, the social problems of its employees.
"At this time, we are not talking about privatization because the company is undergoing restructuring and the Angolan Executive understands that it needs to be done first, before privatization, naturally, so that the act of sale or IPO is more profitable”, revealed Adilson Santos.
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Speaking on the sidelines of the event honoring 82 retired professionals from the company, Adilson Santos made it known that the company will continue to play an important role in the telecommunications sector in Angola.
It should be informed that the Angolan Executive will hand over the rehabilitation and expansion of the transmission networks of Angola Telecom to a business consortium led by Gemcorp, which will cost the State coffers more than US$188,8 million and will serve to expand and modernize broadband infrastructure and coverage throughout the country.
The information was revealed in a presidential dispatch signed by the President of the Republic, João Lourenço, according to the New Journal, stating that the objective is “improve the availability of telecommunications, in pursuit of economic growth, and mitigate regional asymmetries".
