Mozambique: Banks to drop prime rate to 16.5% in September
Mcel and TDM have until end of 2018 to present merger plan
8:54 CAT | 24 Aug 2018
File photo: Lusa
The board of directors of state-owned Moçambique Celular (Mcel) and Telecomunicações de Moçambique (TDM) have until the end of this year to present their merger plan.
“The proposal has been practically concluded,” the minister of transport and communication, Carlos Mesquita, said, according to daily newspaper O País.
The government has held regular meetings with the board of directors of both companies, he added.
Mesquita said the companies had one sole board of directors and were technologically prepared for the merger.
Plans for the consolidation of both companies were first announced by the Mozambican government in 2016 as part of the restructuring of the country’s public sector business.
The International Monetary Fund recently advised Mozambique to rely on external grants as the country struggles with its debt crisis.
Source: Lusa
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