Mozambique to reorganise or sell 6 SOEs

MOZAMBIQUE has identified six companies including telecoms providers Telecomunicações de Moçambique and Moçambique Celular among the 20 stateowned entities (SOEs) it plans to reorganise or sell as it battles a debt crisis. Others include the national airline Linhas Aereas de Moçambique, airport operator Aeroportos de Moçambique, a silos and bulk-terminal company at Matola and postal company Correios de Moçambique, the Finance Ministry said. “Under the restructuring of (SOEs), 20 are considered strategic and viable,” the ministry said. The government might reorganise them through taking on strategic partners, changing management, diversifying products, reducing assets and consolidating operations or by streamlining costs, it said. The country expects to make 371 million meticals (R67m) from SOEs this year, almost half of the 688 million meticals collected from dividends and the sale of shares last year. The airport operator said in June that it planned to reorganise $500m (R7 billion) of loans. – Bloomberg