17/03/2014 - Mozambique to sell five state companies to private investors

Mozambique to sell five state companies to private investors

Five of 117 state companies under the umbrella of Mozambique’s state stake-holding company Instituto de Gestão das Participações do Estado de Moçambique will “soon” be sold to private investors, Mozambican newspaper Correio da Manhã reported.

The newspaper said that the information was provided by a government source who declined to name the companies that would be privatised.

The source also said that the board of Instituto de Gestão das Participações do Estado planned to reduce the number of companies it is responsible for by 50 percent by sending some of them into liquidation and selling others.

Correio da Manhã also said that liquidation or sale of some companies had been agreed by the Mozambican government with the International Monetary Fund (IMF), with IMF advisors agreeing that the main aim of the Institute should be to improve the financial situation of state companies.


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