Amanze Chinonye
Angola’s state-owned oil company Sonangol is continuing preparations for a planned initial public offering (IPO), with internal work focused on ensuring the sale delivers value to prospective shareholders, Executive Board Member Osvaldo Inácio said.
Join our WhatsApp Channel
The company remains committed to the planned listing, although no definitive timetable has been announced. The offering is intended to allow private investors to acquire a stake in the national oil company as Angola pursues broader economic reforms and greater private-sector participation.
READ ALSO :
Sonangol plans to sell up to 30% of its share capital through a phased offering. However, the company was excluded from Angola’s 2023–2026 Privatisation Programme, delaying the proposed transaction beyond the programme’s current timeframe.
Chief Executive Sebastião Gaspar Martins said in February that preparations for the listing were continuing, but the necessary conditions had yet to be met. The delay has not amounted to a formal abandonment of the privatisation plan.
Sonangol reported net profit of more than $750 million in 2025, down from about $807 million in 2024, according to figures reported in February 2026. The company’s production averaged 217,000 barrels of oil equivalent per day during the year.
READ MORE :
Dangote Refinery IPO to Be Extended by 10 Days to Attract African Investors
Beyond its core oil and gas business, Sonangol is exploring opportunities to diversify into minerals, including uranium, lithium and quartz. Martins said the company held seven exploration concessions for the resources, although the extent to which the projects may contribute to its future financial performance remains unclear.
The timing and final terms of the IPO have yet to be confirmed. The proposed sale would give private investors an opportunity to acquire a stake in one of Angola’s key state-owned enterprises, while allowing the government to pursue its privatisation objectives.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
