The Angolan government plans to privatize 15% of UNITEL, the country’s largest telecommunications operator, with 2% of these shares reserved specifically for the company’s employees and board members. This sale will be conducted via the Stock Exchange.
According to a presidential order issued on August 23 and published in the Diário da República on August 26, the 15% stake in UNITEL will be offered through an Initial Public Offering (IPO), managed by the Angolan Debt and Securities Exchange (BODIVA). The order also allows for 2% of the shares to be made available for purchase “under special conditions” by UNITEL employees and members of its governing bodies, in accordance with legal provisions.
This partial privatization is part of Angola’s Privatization Programme (ProPriv 2023-2026). In October 2022, the Angolan state nationalized the 25% stake in UNITEL previously owned by Vidatel and Geni, which were held by businesswoman Isabel dos Santos and General Leopoldino Fragoso do Nascimento, also known as “Dino.”
Currently, UNITEL is fully owned by the Angolan State through the Institute for the Management of State Assets and Holdings (IGAPE) and the State oil company Sonangol.