Mozambican parliament approves new law on public companies

22 March 2018

The Mozambican parliament approved a new law on the state’s business sector on Wednesday, Mozambican daily newspaper Noticias reported.

The law adopts more modern management models based on meritocracy, ensuring that public companies strategies are focused on the public interest.

The new law provides for the Mozambican government to only set up companies in areas of strategic public interest, provides for hiring of managers through public tender and requires external performance audits.

The law also recommends that the relationship between public companies and the government be regulated through a contract subject to performance criteria. (macauhub)