Mozambique: Tmcel passes to the management of IGEPE

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Mozambique: Tmcel passes to the management of IGEPE

2:34 CAT | 11 Apr 2023

File photo: O País

While the government seeks to set up a commission to manage mobile phone operator Tmcel, the Instituto de Gestão das Participações do Estado (IGEPE) will manage its day-to-day activities, Minister of Transport and Communications Mateus Magala has announced.

The management commission, which might be announced later this month, will have as its priority reversing the negative results of the mobile telephony company, majority owned by the Mozambican state.

At the moment, Tmcel’s debts exceed US$300 million.

A new management model for the company will be defined once the management commission is identified, Magala said.

The minister maintained that the company’s assets, including cell towers, are worth more than its US$300 million debt.

In order to finance the reforms both at Tmcel and at LAM, also the subject of an intervention, a forum for funders will be held in Mozambique later this year.

Source: O País