Mozambican mail company Correios de Moçambique to be partially privatised

20 June 2011

Maputo, Mozambique, 20 June – Mozambican mail company Correios de Moçambique, which is currently 100 percent state-owned is soon due to be transformed into a private limited company, making it possible for private investors to take a stake, the company’s chairman, Luís Rego said cited by Mozambican daily newspaper, Notícias.

The paper cited a feasibility study that concluded that the company needed an overall restructuring including of its finances, human resources and assets.

The study said that the entire postal network required renewal in order to introduce new services as the postal business, in itself, was not enough for the company to be able to meet its financial obligations.

In order to meet its challenges, Correios de Moçambique already has the government’s support, as the company has been defined as one of the strategic companies for the country’s development. (macauhub)