The Institute for the Management of State Assets and Participations (IGAPE) started, earlier this week, the public tender for the sale of 90 percent of the company Multitel – Serviços de Telecomunicações, Lda, reveals Jornal de Angola.
According to the communiqué of that public body, it takes place within the framework of the Privatization Program (PROPRIV), since the telecommunications company Multitel is indirectly owned by Sonangol EP and by the Angolan State, through PT Ventures, BCI and Angola Telecomrespectively.
It should also be informed that the tender for the sale of Multitel is open to national and foreign investors, and applications must be submitted by March 11 of next year.
BUT: Angola Telecom will hand over its entire infrastructure to private companies
According to what the editors of MenosFios found, PROPRIV is a program of the Angolan Executive that foresees the privatization of a group of 195 companies, based on Law n.º10/19, of May 14, Basic Privatization Law , with the objective of creating a new and modern legal regime for privatizations and reprivatizations in Angola, establishing as an indispensable condition for their implementation, prior approval by the Executive of a Privatization Programme, which constitutes a programmatic document, where the entities are identified of the public business sector that should be subject to privatization, within an indicative time horizon, in accordance with the objectives that have been defined.
Finally, it should be noted that the procedures to be adopted for the privatization of companies are public tender, public tender for prior qualification, stock exchange auction and initial public offering. It should also be reiterated that the concept of Privatization defined in the Basic Privatization Law, nº 10/19, of May 14th, admits several privatization modalities, namely, sale of shares representing the share capital, increase of the share capital open to the subscription of entities private companies, the sale of assets or the assignment of exploration and management rights.
The program has the following objectives: to promote the country's growth, by reducing the state's participation in the economy, promoting private investment that boosts job creation and increasing tax collection, as well as promoting greater availability of products and services to all citizens, among other benefits for every Angolan.
