The Angolan government plans to sell its shares in the troubled state-owned operator Unitel as part of broader efforts to privatise the country’s economy.
Minister of State for Economic Coordination, José de Lima Massano, stated: “We are privatising our telecommunications company Unitel” in the coming months, with part of the sale set to be conducted through the stock exchange, reported Bloomberg.
Unitel is one of the 200 largest state-owned companies and assets identified for privatisation. The minister noted that more than half of these companies have already been sold to the private sector since the programme began in 2019.
Unitel made headlines for the wrong reasons last year when Isabel dos Santos, former director and daughter of Angola’s former ruler José Eduardo dos Santos, was accused of mismanagement and misappropriating nearly US$400 million in company funds.
