The Angolan state, which has made considerable progress in the process of selling its shares in 195 local companies, wants to keep its shares in Banco Comercial Português (BCP) and Galp Energia.

Angola plans to keep its shares in Banco Comercial Português (BCP) and Galp Energia, two successful Portuguese companies, Bloomberg reported this Wednesday, July 17, 2024, Bloomberg reported on Wednesday, July 17, 2024, citing the Angolan Minister of State for Economic Coordination, José de Lima Massano.

“The Angolan state has sold 108 companies out of a total of nearly 200 assets to be privatized, but it remains logical for Sonangol to keep its stakes in BCP and Galp Energia”, said the Angolan Minister of State in charge of Economic Coordination, José de Lima Massano.

“We are very happy with what we have at this point. These are investments that aim to maintain a balanced portfolio. We do not see the need or the urgency to follow a different path,” he added, describing relationships with Galp Energia and BCP as “very positive”

The chairman of Sonangol's board of directors, Sebastiao Martins, announced last February that the Angolan public company was under “strong pressure” to sell its stake in BCP.