Sale of 51 percent of Net One Angola to go ahead

Sale of 51 percent of Net One Angola to go ahead

Last week saw an announcement from Angola’s Instituto de Gestão de Activos e Participações do Estado (IGAPE), opening what is called a Limited Tender for Previous Qualification to privatise 51 percent of operator Net One.

IGAPE is the state entity responsible for carrying out Angola’s privatisation programme, known as Propriv.

The tender was opened after an order from the minister of finance, inviting national and international investors, if they are qualified, to take part in the sale. Interested parties have to apply by 3pm on 25 June.

Net One was established in September 2009. It provides telecommunications services to both businesses and consumers. Its main focus is on the provision of such services as WIMAX, LTE, VSAT and VOIP.

Propriv plans to privatise 195 companies and state assets in which the state has stakes or is the sole shareholder. This includes the National Insurance and Reinsurance Company of Angola (Ensa), the bank BCI, and the brewers Cuca, Nocal and EKA. It also includes a number of telecommunications companies.

We reported in January that Angola’s President Joao Lourenco had cleared the way for initial public offerings (IPOs) on government-owned stakes in three of the country’s operators. IPOs were authorised for the privatisation of state holdings in TV Cabo Angola and Multitel. Order No. 186/20 sanctioned a ‘limited tender by prior qualification’ for the government’s shares in Net One.

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