Luanda — Angola plans to privatise 74 state companies over the next few years, predominantly those in the industrial sector, according to the prospectus sent to investors as part of the country’s eurobond issuance. Africa’s second largest crude producer has been battered by a fall in the price of oil over the past four years and President João Lourenço, who took office in September, has pledged to reduce state interference in the economy, which remains centrally controlled after years of civil war and Soviet-influenced state building following independence from Portugal in 1975. "Generally, the government intends to sell its entire interest in these companies, the majority of which operate in the industrial sector," the prospectus, a copy of which was seen by Reuters, said. The prospectus does not list the companies or say how much the privatisations could raise, but a government source told Reuters that Angola’s ports, national carrier TAAG, BCI bank, and insurer Ensa were all bein...

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