An Ematum shareholder joins forces with two ministers

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An Ematum shareholder joins forces with two ministers

2:57 CAT | 22 Mar 2016

A new company specialising in security and protection of embassies and diplomatic staff has just been born in Maputo.

Called Vipas – VIP and assets security, it has three discreet shareholders who nevertheless have good connections in the country. The first, MAM – Mozambique Asset Management, owns 85% of the company. While its executives have not been made public, it is interesting to note that the firm was registered in April 2014 by the Finance Ministry’s private notary centre. A second shareholder in Vipas is GIPS – Gestão de Investimentos, Participações e Serviços (which owns 10% of the equity), which is well-known for owning 30% of the equity of tuna fishing company Ematum – which has been in the headlines in Mozambique for several months.

Finally, the last shareholder in Vipas is the firm Proindicus, which is itself 50% owned by Monte Binga, a company created around 20 years ago by the Defence Ministry.

Source: Africa Intelligence