Mozambican government to sell another 10 pct of insurance company Empresa Moçambicana de Seguros

29 June 2012

The Mozambican government plans to sell another 10 percent of its stake in insurance company Empresa Moçambicana de Seguros (Emose), according to the annual report of state stake-holding company Instituto de Gestão das Participações do Estado (Igepe) for 2011.

Empresa Moçambicana de Seguros is the oldest insurance and real estate company in Mozambique, and manages hundreds of properties in Mozambique and Portugal.

The sale of 10 percent of the company will be carried out via the Mozambique Stock Exchange, as also happened when the Mozambican government decided to sell the first 10 percent tranche in the company.

In its annual report Igepe also said that in 2012 agricultural insurance would be launched in Mozambique, a country with 36 million hectares of arable land of which only a tiny part is used. (macauhub)