The State Business Sector (SEE) recorded a robust economic performance in 2022, with growth of 35.3 per cent and a consolidated profit of approximately 11.8 billion meticals (186.5 million dollars), as announced this week at FACIM 2024 by the Institute for the Management of State Holdings (IGEPE).
According to the newspaper Noticias, the consolidated accounts report, released during the event in Maputo, indicates that the result achieved reflects the resilience of public companies, even in a context of global economic adversity, aggravated by the covid-19 pandemic.
According to Raimundo Matule, executive director of IGEPE, the figures represent significant progress for the sector. ‘SEE companies have demonstrated their ability to operate efficiently, even in difficult conditions,’ he said during the presentation of the report at FACIM. In 2021, SEE profits totalled 8.9 billion meticals, showing considerable growth in 2022.
In addition to the financial results, the IGEPE emphasised its commitment to transparency and accountability in the sector. Raimundo Matule explained that in order to ensure that economic performance is recognised and understood by the public, it is essential that the accounts of SEE companies are approved by April each year, as stipulated by the Commercial Law, and independently audited before being released.
The director also emphasised the importance of complying with the established timetable in order to maintain stakeholder confidence and guarantee the sustainability of the companies.
‘The IGEPE plans to present the audited results for 2023-24 at the next edition of FACIM, marking an important step towards consolidating the transparency and financial performance of SEE companies’
Despite the positive results, the SEE still faces challenges, including the fact that some entities in the sector continue to have the state as their main debtor, which jeopardises the budgets available for the growth and development of these companies. ‘It’s essential that these issues are resolved so that the SEE can continue to grow in a sustainable way,’ said Matule.
Dinis Pereira, a representative of 2Business, a financial consultancy present at the event, stressed the need to modernise the sector, calling on the managers of public companies to invest in computerisation and digitalisation processes. ‘Digitalisation will make it possible to speed up the presentation of accounts and increase efficiency in the management of SEE companies,’ he said.
IGEPE plans to present the audited results for 2023-24 at the next edition of FACIM, marking an important step towards consolidating the transparency and financial performance of SEE companies.
With this positive performance in 2022, the SEE is preparing to face new challenges with a more solid financial base and a renewed commitment to transparency and good governance.
About the event
FACIM is taking place at the Ricatla International Fair and Exhibition Centre, located in the district of Marracuene, Maputo province, from 26 August until 1 September, with the theme ‘Industrialisation: Innovation and Diversification of the National Economy’.
This year, 2,300 nationals and 650 foreigners from 25 countries around the world have been attracted, spread over more than ten pavilions and free spaces, and all economic sectors, associations, public and private companies are also invited.
