Angola to Sell Stakes in Biggest Telecom Company, Banks in 2025

Angola plans to sell stakes in its biggest telecommunications company, Unitel SA, and two lenders in the coming months to attract investors, Minister of State for Economic Coordination Jose de Lima Massano said.

Jose de Lima Massano

Photographer: Andreas Solaro/AFP/Getty Images

“In the coming months we are privatizing our telecommunications company Unitel,” Massano said in an interview with Bloomberg at the World Economic Forum in Davos late Tuesday. “Part of it is being done through the stock exchange.”

Africa’s third-largest oil producer will also dispose of stakes in Banco de Fomento Angola, its second-largest lender, and Standard Bank Group Ltd.’s local unit, he said. ...