In Angola: Sonangol Hydrocarbon company will start selling its assets by April

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Sonangol, the public company in charge of the hydrocarbon portfolio in Angola, is discharging its stakes in several companies from next April.

The announcement was made by the boss of the company Sebastiao Gaspar Martin who said he was unable to give the value of the assets at this stage of the process.

This is the start of the privatization strategy for certain assets in the public portfolio desired by Luanda. The measure is expected to affect Sonangol itself, if only in part by 2022.

Among the 11 companies concerned by the April launch, there is the financial establishment Banco Bai, but also Sonamet, Sonatip, and Sonadit, specializing respectively in metallurgy, maritime services and the maintenance of offshore companies.

Angola is the second African oil exporter. But the country is facing the planned fall in its production capacity. New President Joao Lourenço has vowed to diversify the productive fabric to get the country out of its excessive dependence on black gold.

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