Mozambique may sell more than half of its public companies

17 August 2015

More than half of public companies in Mozambique may be privatised as they are not considered strategic, said the president of state stake-holdings institute, Igepe.

The Institute has a portfolio of 117 companies, 49 of which are under direct management, and the remainder are not currently operating for a variety of reasons, such as lack of capital.

“Companies that are not running can seamlessly switch to private management, since they do not have a role to play in the government’s development strategy,” Apolinário Panguene told daily newspaper Notícias.

Panguene denied, however, that the State would sell its 26 percent stake in mobile operator Mozambique Cellular (mCel).

“We admit that more than half of the companies held by the State are not of a strategic nature and could eventually be privatised, but you cannot conclude from such a statement that the State is already selling stakes in companies that it is responsible for,” noted the president of Igepe. (macauhub/MZ)