Portugal’s Postal service, CTT; to invest 2 million euros in Angola and Mozambique

4 September 2009

Lisbon, Portugal, 4 Sept – Portugal’s postal service, CTT, plans to launch express delivery services in Angola and Mozambique by the end of the year, with an investment of 1 million euros in each market, the company’s chairman Estanislau Mata Costa said Friday.

CTT’s entry into the Angolan market was announced a few months ago, but the news is that it will also enter the Mozambican market.

The new businesses will be in partnership with local postal services and thus do not require “significant investment” said the CTT chairman.

Investment in each of the markets is estimated at 1 million euros and the company expects the new business units to be in operation by the end of the year. (macauhub)