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Angola plans to list Unitel on the BODIVA

Thursday, 13 April 2023 16:48
Angola plans to list Unitel on the BODIVA

(Ecofin Agency) - Unitel is the leading telecom operator in Angola, with a 78 percent market share. It was nationalized in October 2022 when the government took over the shares of Isabel dos Santos and Leopoldino Fragoso do Nascimento.

Angola wants to privatize state-owned telecom operator Unitel by listing it on the Angola Debt and Stock Exchange (BODIVA), local media outlets reveal. The listing process is expected to begin this year, we learn. 

The privatization announcement comes about four months after the government nationalized the operator by taking over the shares of Isabel dos Santos and General Leopoldino Fragoso do Nascimento. Each of the two individuals were owning 25% of the operator against 50% for the government. By taking over the combined 50% share, the government became the sole owner.  

The listing is part of the government’s plan, initiated in 2018, to privatize state companies. With that plan, the government intends to sell its assets in 195 companies to restructure and resize the public sector businesses in Angola. In the ICT sector, Unitel, Multitel, MS Telecom, ACS - Angola Comunicações e Sistemas, Angola Telecom, and Angola Cables are targeted.

The privatization of Unitel is expected to recapitalize the company and ensure better management. Part of the proceeds from the transaction could be invested in improving the coverage and quality of services provided by the telecom operator. This should enable it to strengthen its leadership position and withstand the competition led by newcomer Africell.

Isaac K. Kassouwi



Public Management

ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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