Sonangol to privatise subsidiaries

Angola

LUANDA
, June 8, 2018 – Angolan President João Lourenço has said Sonangol would privatise some of its subsidiaries, local media reported Thursday.

Without specifying which units would be sold, the president said the process would be fair and transparent, Macau Hub reported.


Sonangol head Carlos Saturnino has also spoken about sorting out the NOC’s many business interests to assess which could be considered “core” and those which are “non-core.” Among the business areas for review are its investments in SonAir, an airline, and up to five banks including Angola’s second-largest lender, Banco Angolano de Investimentos, in which the NOC holds an 8.5% stake.

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