Government of Mozambique to sell state’s stakes in 10 companies

2 July 2009

Maputo, Mozambique, 2 July – Mozambique’s State Shareholding Management Institute (Igepe) has launched a public tender to start the sale of the State’s stakes in 10 companies considered to be non-strategic, Macauhub has learned from an Igepe source.

The source added that the tender aimed to contract a company to provide consulting services.

Igepe manages the state’s stakes in over 100 companies although the source did not tell Macauhub the names of the companies in which the State plans to sell of its interests.

However, the source contacted by Macauhub said that a plan had been prepared with a view to the State divesting its interests in small and medium-sized companies and that the State’s stakes in banks, telecommunications companies, insurance companies, fuel distribution companies, would be kept as these are all considered to be vital to the country’s economy.

Strategic companies in Mozambique, amongst others, are considered to be, airlines Linhas Aéreas de Moçambique, port and rail manager Portos e Caminhos de Ferro de Moçambqiue, insurance company Empresa Moçambicana de Seguros and telecoms operator Telecomunicações de Moçambique.

“The state’s exit from some companies is part of a strategic plan that began in 2008 and will continue until 2010,” noted the source, who said that by then the number of companies with state participation would be around 50.

As part of this plan, according to the source, of the companies in which the State has a stake 39 will be sold off or restructures, whilst the other 33 will go into liquidation.

Igepe also plans to contract a company to provide consulting services for the sale of 14 state stakes reserved for technical managers and workers and another that will advise on the dissolution and liquidation of 10 companies. (macauhub)