Maputo, Mozambique, 13 Nov – Portuguese postal company Correios de Portugal Thursday in Maputo signed a contract with its Mozambican counterpart to set up Mozambican express mail company, Correios Expresso de Moçambique.
The articles of association ere signed by the chairman of Correios de Portugal (CTT), Estanislau Costa, and by his counterpart at Correios de Moçambique, Luís Rego who said that this was the end of a long process to identify partnerships to diversify business.
The new company will start operating in the first quarter of next year and will be in a “promising market sector, which accompanies the country’s development,” the express mail, messages and courier services market.
Although there are already companies in this line of business in Mozambique, Costa said he believed that in a short time the new company could have a significant share of the market, and could aspire to become market leader.
Initial investment, he said, was US$600,000 (403,000 euros), and each state-owned company would provide half.
CTT and Correios de Moçambique have cooperated for many years, specifically in the area of training but this is the “first big deal,” Costa said. (macauhub)