Angola: Hundreds of companies privatised in 10 years

The Angolan government will this year launch the second phase of the privatisation programme which in the last ten years has enabled the sale to private interests of 198 state companies, Economy Minister Abraão Gourgel announced. Appearing on Angola’s TPA television, Gourgel also lamented that the privatisation process started by the government in 1990 via its Business Readjustment Office had not achieved all of its goals. The low results are due to economic questions such as the lack of a capital market and social issues such as the lack of financial power to settle state debts, Gourgel said.