Government wants to retain only “strategic and structuring” companies

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Government wants to retain only “strategic and structuring” companies

7:01 CAT | 30 Mar 2021

Photo: TVM

The Minister of Economy and Finance of Mozambique said on Thursday (25) that only “strategic and structuring” companies would remain in the state business sector after the restructuring of the state’s business portfolio.

“The Institute for the Management of State Holding s(IGEPE) needs to know how to classify [these companies], and which companies are going to continue with us [in the state’s business sector],” Minister Maleiane said.

That minister was responding to concerns raised by opposition parliamentary benches regarding the restructuring plan for the state business sector during the 2019 General State Account (CGE) debate in parliament.

The criteria to determine the strategic and structural character of a company will be necessity and their capacity to satisfy essential public interest, Maleiane added. To this end, the IGEPE was evaluating 13 wholly state-owned and 113 majority state-owned companies, with a view to defining their status and future.

IGEPE executive director, Raimundo Matule, said last week that the Mozambican Insurance Company (Emose), Correios de Moçambique, Sociedade de Gestão Imobiliária (Domus) and Silos Terminal Graneleiro da Matola (STEMA) were four of the companies to be analysed.

“The state could decide to sell part or all of its participation,” Matule said, adding: “It could also decide to liquidate the company.”

Matule pointed out that the restructuring was part of a broad programme of reforms in the state business sector.

Within this framework, Linhas Aéreas de Moçambique (LAM), Petróleos de Moçambique (Petromoc), Telecomunicações de Moçambique (TDM) and Moçambique Celular (Mcel) had already undergone restructuring, the latter two being merged into the new TMcel entity.

Source: Lusa