Mozambique wants to sell or liquidate 70 public companies

21 August 2015

Mozambique’s state stake-holding company Igepe plans to sell off or liquidate 70 of 113 public companies for lack of sustainability, the president of the institution said Thursday in Maputo.

Apolinário Panguene, who spoke at the meeting of the Igepe Advisory Board, held in Maputo, said the process of selling or liquidating 70 of a total 113 state-owned companies was underway, “as only 47 are sustainable or have seen improvements in their performance.”

The President of Igepe, which manages the state’s business interests, said that several state-owned companies had entered a growth cycle and are expected to begin to pay dividends in the coming years.

“With the recovery of gains, companies that were experiencing a less than good situation, are beginning to be able to honour their commitments by paying dividends to the state,” said Panguene, cited by Portuguese news agency Lusa.

Panguene said that to promote transparency in management of state companies, Igepe was preparing a structured follow-up model, which will allow timely access to the financial situation of each company. (macauhub/MZ)