An important part of the economic reforms contemplated by the Angolan government involves the privatisation of stateowned enterprises and the sale of stakes that the Angolan state directly or indirectly holds in enterprises. On 5 August of this year the eagerly awaited privatisation programme ("PROPRIV") was made public through the publication of Presidential Decree 250/19 of 5 August (the "Decree"). The Decree is based on the Privatisation Framework Act of 14
May 2019 (Law 10/19). PROPRIV includes assets in Angola as well as assets that are located abroad (but excluding the major investments of the Angolan state in Portugal).

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