Mozambican state holdings company to liquidate and sell companies

16 October 2009

Maputo, Mozambique, 16 Oct – Mozambique’s State Shareholding Management Institute (Igepe) has contracted the Intellica company for consulting on the dissolution and liquidation of ten companies, Macauhub learned in Maputo.

The contract is worth just over 3.7 million meticals, or around US$135,000.

Igepe also contracted the company’s consulting services to sell ten state shareholdings in companies that are considered to be non-strategic to private investors, a contract that is worth 2.6 million meticals (US$95,000).

Igepe has also contracted PriceWaterHouseCooper for 1.3 millionmeticals (just over US$46,0000) for consulting services to sell 14 state shareholdings reserved for managers, technicians and workers.

The Mozambican government has prepared a plan with a view to the State divesting its interests in small and medium-sized companies although the State will keep stakes in companies considered to be strategic such as banks, telecommunications and postal services, insurance companies and fuel distribution companies.

The paln includes 39 companies to be sold off whilst 33 will be liquidated.

Igepe manages the state’s shareholdings in over 100 companies. (macauhub)