Sao Tome and Principe
7. State-Owned Enterprises
When STP’s cocoa plantations were shut down in the late 1980s, most SOEs also closed. EMAE (Water and Power Supply Company), ENAPORT (Port Authority Company), ENASA (National Company for Airports and Air Safety), and Empresa dos Correios (Post Office) are 100 percent state-owned enterprises with some financial autonomy. Through a joint venture, the government holds 49 percent of CST (Santomean Telecommunication Company) while the largest Brazilian telecommunication company, OI, owns 51 percent. All four fully-owned state enterprises are subject to audits by the Ministry of Planning, Finance and Blue Economy and the Audit Court. They have financial autonomy, but largely depend on funds from the state budget.
STP does not have an active privatization program. The IMF has recommended privatization through periodic reports.