More state-owned enterprises may be subject to restructuring in the near future, either through total or partial privatization, or through other forms of intervention, with a view to improving their performance.
A few days ago, the Institute for the Management of State Participations (IGEPE) announced the contracting of a company that will conduct a study for the restructuring of four companies belonging to the State business sector.
The companies are Empresa Moçambicana de Seguros (EMOSE), Correios de Moçambique, Sociedade de Gestão Imobiliária (DOMUS) and Silos e Terminal Graneleiro da Matola (STEMA).
The study, according to Raimundo Matule, executive administrator of the Companies Control department at IGEPE, should be concluded by December of this year, however, there are bureaucratic factors that may condition its conclusion within this period. “At this moment it is difficult to specify when the study will be concluded, but it was our wish that it be finished by December.
We know that the process of adjudicating the work takes time due to the bureaucratic procedures that must be followed,” explained Matule.
In contact with our newspaper, IGEPE’s administrator did not advance when the other companies may be restructured, however he recalled that this is not the first time that the State advances to this measure.
“We have already had restructuring in Mozambique Airlines (LAM), Petroleum of Mozambique (Petromoc) and in Mozambique Telecommunications and Mcel, culminating with the merger of the last two,” explained the source, noting that restructuring does not always mean that what is intended is privatization.
He said that in the specific case of EMOSE, STEMA, DOMUS and Correios de Moçambique, the study to be conducted by Intellica will determine the type of intervention that should be done in each of the units.
Matule explained that depending on the results and recommendations of the study, the restructuring can be done in the area of human resources, finances, or even in the operational part. “But the state can also decide to sell part of the stake or all of that stake. It can also decide to liquidate the company,” he sustained.
Created in 2001, IGEPE has a portfolio made up of public companies and participated companies, subdivided into majority and minority ones.
Its main mission is to manage the state’s financial holdings acquired through the restructuring process of the state’s business sector.
In addition to the management responsibility of the participated companies, IGEPE is also a provider of technical services and of monitoring the management of processes that have a significant impact on the different affairs of the state.
