Angolan President creates commission to prepare privatization of public companies

LUANDA. -- Angolan President Joao Lourenco has created a commission aimed at preparing and implementing the privatization process via the stock exchange of public companies of reference.

   According to local media on Monday, the said commission will be coordinated by the Minister of State for Economic and Social Development, Manuel Nunes, and it also includes the ministers of finance, economy and planning, the president's aides for economic, finance and treasury Affairs.

   The chairpersons of the Boards of Directors of the Public Business Sector Institute the Capital Markets Commission and the Angola Debt and Securities Exchange are also part of this commission.

   The results of the work of this commission should ensure the achievement of the objectives to guarantee the integrity of strategic sectors of the State, of the public business sector and increase the productivity efficiency of the economy and companies.

   Promoting business development, ensuring the maximization of revenue collection resulting from the privatization process, promoting the stock market and boosting the activity of the Angolan capital market, and in particular of BODIVA, are among others, the expected results.

   In order to fulfill its functions, the said commission is supported by a technical group coordinated by Secretary of State for Finance and Treasury, Vera Daves, who will carry out the legal and financial assessment of eligible companies with the potential for privatization on the stock exchange.