Luanda, July 27, 2026 (Lusa) — The Angolan government raised 300.3 billion kwanzas (€288 million) from the sale of a 15% stake in telecoms operator Unitel, at a price of 40,040 kwanzas (€38.5) per share, with demand exceeding supply by a factor of 1.2.

In a statement released on Monday, the Angolan Debt and Securities Stock Market (BODIVA) reported that demand for the 7.5 million shares in the telecoms operator, sold by the Institute for the Management of State Assets and Holdings (IGAPE), totalled 9,054,299 shares.

Of the 17,549 subscription orders received, 16,571 were successful, corresponding to 11,264 investors who became new UNITEL shareholders, according to BODIVA.

The physical and financial settlement of the transaction is scheduled for Tuesday, followed by the admission to trading of all UNITEL shares on the Angolan stock market on Wednesday, when the shares will become freely tradable.

The public offering, which began on 6 July and closed on 24 July, forms part of the Angolan government's Privatisation Programme (Propriv) and is the largest ever in Angola.

Of the 15% of the share capital offered for sale, 2% was reserved for the company's employees and 13% was allocated to the general public.

UNITEL is Angola's largest telecommunications operator, with over 70% of the market share, and is the first company in the telecommunications sector to be listed on the Angolan stock market.

UNITEL was previously owned in equal parts by the Angolan state, through IGAPE, and by the state-owned oil company Sonangol.

Previously, the share capital was divided into four 25% stakes — PT Ventures (a subsidiary of the Portuguese company Portugal Telecom, later integrated into the Brazilian company Oi), MSTelcom/Sonangol, Vidatel, owned by the Angolan businesswoman Isabel dos Santos, and Geni, owned by General Leopoldino Fragoso do Nascimento, «Dino».

Sonangol acquired PT Ventures' stake in January 2020, thereby gaining control of half the company, and in October 2022, the Angolan president, João Lourenço, decreed the nationalisation of the stakes held by Vidatel and Geni, transferring the operator's entire share capital to the state.

The list of companies to be privatised by the end of the year includes a further ten assets, including Angola Telecom, which provides internet services, fixed-line telephony and network infrastructure.

 RCR/AYLS // AYLS

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