Luanda — Angolan government has announced the start of the privatisation process of the Angola's National Insurance Company (ENSA-S.
A) and the indirect State holdings of Angolan Investment Bank (BAI).
The process is part of the government's Privatisation Programme (PROPRIV).
The privatisation of the two sector assets include the sale of 100 per cent of the holding of Banco de Comércio e Industria (BCI) and 25 percent stake
The sale will be carry out through various procedures and will be preceded by a valuation process due diligence to be conducted by a financial intermediary, under the terms of the Basic Privatisation Law.
The note states that the 8.5 percent stake held by Sonangol and 1.5 percent by the diamond firm Endiama in BAI will be sold through a public tender limited by prior qualification, the same procedure to be implemented in the case of ENSA-S.A.
The PROPRIV also has several ongoing processes, with total of 40 assets and holdings in various sectors such as the textile, beverage and processing industry, livestock, agro-industrial.
