Angola Telecom is an empresa publica, i.e. wholly owned by the Angolan state.

Subsidiaries of Angola Telecom include: Angola Telecom created the mobile phone provider Movicel as subsidiary, but holds since 2010 only a minority part of the shares of Movicel.

In 2010 Angola Telecom began a program of restructuring led by a team of international consultants.

In 2014, Bloomberg reported that the company was on track to produce its first net profit in over 8 years.

However, the economic collapse fueled by the devaluation of crude oil has likely erased any gains achieved thus far.