Angola eyes 2021 Sonangol stake sale

Angola

LUANDA, November 25, 2020 – The Angolan government is planning a partial divestment from NOC Sonangol by the end of 2021 or in early 2022, Minister of Finance Vera Daves de Sousa has said.

The sale could take place via an IPO, the minister said at the Bloomberg Invest Africa virtual conference Tuesday.

Under a privatisation scheme running until 2022, the government aims to divest shares in 195 state assets.

Sonangol itself is also undertaking an ambitious divestment programme, with a number of assets up for grabs.

Minister Daves de Sousa said the government is focusing on a due diligence process in order to “capture the interest of high-quality investors.”

Read about Sonangol’s transformation in our latest interview with CEO Sebastião Gaspar Martins.