Angola earns 16 million with SEZ privatizations

The plants are located in the Luanda-Bengo Special Economic Zone (ZEE)

The Angolan State has earned $16 million with the privatization of five industrial units in the Luanda-Bengo Special Economic Zone (ZEE); the agreements were signed today by the new owners and the Institute for the Management of State Assets and Equities (IGAPE).

The value of these units, in which the state has spent about $30 million, is slightly below initial expectations, as acknowledged by the Chairman of the Board of IGAPE, Valter Barros. "It is the value offered by the market, and we have decided to close the process with the offers on the table," he said. Valter Barros argued that this was the possible outcome, adding that the big challenge is yet to come, with the launch of industrial units, which he believes will attract further investment. "The aim is for these companies to create jobs, pay their taxes, and become part of the Angolan economy," he said.

The signing of contracts was preceded by a public tender in February, followed by a selection process for the submission of proposals, which were assessed by a negotiating committee.

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