Mozambique’s Intelec Holdings buys share in Vodacom Mozambique

9 March 2007

Maputo, Mozambique, 9 March – Mozambican shareholding company Intelec Holdings Ltd has acquired a stake in Vodacom Mozambique, the Mozambican subsidiary of South African company Vodacom, for an undisclosed sum, officials said.

Intelec Holdings, ranked 49th in the list of the 100 top companies in Mozambique drawn up by KPMG, controls companies such as Electrotec Ltd, Intelec Lites Ltd, Aberdare Intelec Limitada and Sinergisa.

In a statement Vidacom said the partner and co-founder the Emotel consortium (Empresa Moçambicana de Telecomunicações), would remain as a shareholder of Vodacom Mozambique and that its chairman, Hermenegildo Gamito, would continue as chairman of the board of Vodacom Mozambique.

Vodacom also announced it would increase the stake held by Mozambican shareholders in Vodacom Mozambique.

Vodacom is a pan-African cellular telecommunications company providing a GSM service to over 20 million customer sin South Africa, Tanzania, the Democratic Republic of Congo and Lesotho, as well as having recently acquired a license in Mozambique. (macauhub)