Port of Maputo management company buys majority stake in shipping company Navique

8 July 2014

Portus Indico, the company that manages the Port of Maputo Development Company (MPDC) has bought 70 percent of Mozambican shipping company Navique – Empresa Moçambicana de Navegação, previously owned by Portugal’s Empresa de Tráfego e Estiva (E.T.E), a source from the E.T.E told Macauhub.

Through Portus Indico, MPDC will now manage the Maputo coastal shipping terminal company Terminal de Cabotagem de Maputo (TCM), a company in which Navique has a 51 percent stake and state port and rail company Portos e Caminhos de Ferro de Moçambique (CFM) owns 49 percent.

Before the deal Navique was owned by a subsidiary of E.T.E (70 percent), by Mozambican state stake-holding company IGPE (20 percent) and by Focus 21 (10 percent), a holding company of the family of Mozambican president, Armando Guebuza.

Speaking to Macauhub by telephone, a source from the ET.E. board confirmed the sale of the stake the group had owned in Navique since 2000, but declined to give a figure for the deal.

In a press release published on the MPDC website Portus Indico said that TCM us “one of the oldest terminals at the port of Maputo” and has a paved area of 27,000 square metres, a 300-metre dock and several warehouses covering an area of 5,000 square metres.

The group, which is owned by South Africa’s Grindrod (48.5 percent), DP World (48.5 percent) of the United Arab Emirates and Mozambique Gestores (3%), also said that TCM would start offering services such as vehicle storage and passenger ship handling.

Portus Indico has a private concession on MPDC until 2025, in which CFM has a stake of 49 percent. (macauhub/MZ/PT)