All Things Set for Angola To Sell Shares in its Biggest Insurer

The privatization of state-owned insurer ENSA – Seguros de Angola SA is at an “advanced stage,” with the prospectus already submitted for approval to the Capital Markets Commission, State Secretary for Treasury Ottoniel dos Santos told reporters in Luanda, the capital, on Friday. The public offering for a 30% stake will open on Sept. 15 with trading expected to start in October, he said. The government is also planning to sell stakes in Unitel SA, the nation’s biggest telecommunications company, Banco de Fomento Angola, the second-largest lender, Standard Bank de Angola SA, and Bolsa de Divida e Valores de Angola or Bodiva. The companies are among the largest of almost 200 state-owned firms and assets the government initially earmarked for disposal in 2019. Some of the sales were delayed because of the coronavirus pandemic.

BLOOMBERG