Mozambique puts state company for medicine import and export up for sale

6 August 2019

The Mozambican State Equity Management Institute (Igepe) has put the state-owned medication import and export company Medimoc up for sale, according to an announcement late last week in Maputo.

The announcement said that Igepe intends to sell Medimoc to a national or foreign entity that is technically and financially capable of continuing the company’s business, and that interested parties must have experience in similar business.

Medimoc is a public limited company with a share capital of 59 million meticais (US$964,500) and with three offices in the cities of Maputo, Beira and Nampula.

The share capital of the company is 65% owned by the state, with the remaining 35% being held by Medigest, a company representing managers, technicians and workers.

Mozambican newspaper O País reported that the sale of Medimoc is part of the restructuring process of the state business sector, with a view to financial recovery of state companies, many of which are stagnant.

Medimoc is one of eight state-owned companies whose restructuring process was completed in 2018 as part of the revitalisation of the state’s business assets. (Macauhub)