On Wednesday, February 7, the Secretary of State for Finance and the Treasury, Ottoniel dos Santos, indicated that the Angolan government plans to introduce the telecom operator United and the commercial bank Banco de Fomento Angola (BFA) on the stock market in 2024.

The objective of the IPO of the telecom operator Unitel and the commercial bank Banco de Fomento Angola is to find a mechanism to accelerate the process of privatizing the State's indirect holdings in these entities through the stock market. Noted that Unitel and Banco de Fomento Angola are among the 26 state-owned businesses and assets that the government decided to sell to private investors in 2024, as part of a vast privatization program launched in 2019. The Angolan Institute for Asset Management and State Participations (IGAPE) owns 50% of Unitel's shares, the other half being controlled by the oil company Angolan national Sonangol. Unitel also has a 51.9% stake in Banco de Fomento Angola, the country's second largest commercial bank