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Shareholders Approve Management Committee to Revive Tmcel

Shareholders Approve Management Committee to Revive Tmcel

The extraordinary general meeting of Mozambique Telecom (Tmcel) held on Tuesday 16 May decided to set up a management committee to manage the immediate future of the company in place of the Board of Directors in office until then.

The body is made up of Mahomed Adamo Mussá, chairman and responsible for the commercial and systems areas, Nordino José Wazo, manager for the operations area, and Cezerillo Horácio Eugénio Matuce, manager for the administration and finance areas. Consequently, the members of the Board of Directors Mahomed Rafique Jusob Mahomed, Mário Luís Albino and Binda Jocker, in office at the company for six years, ceased their functions.

The Tmcel assembly also analysed and deliberated on the company’s revitalisation plan, cost reduction plan and cost centre profitability study.

On Wednesday, 10 May, the Minister for Transport and Communications, Mateus Magala, had already stated, when explaining the situation to members of parliament, that Tmcel’s situation was more complex than expected and that the solution could involve the sale of 80 percent of its assets.

Magala also said at the time that the management commission should take on the restructuring of the operator in which the majority of shares are state-owned in order to reverse the negative results

Tmcel is a public limited company resulting from the merger between Telecomunicações de Moçambique S.A. (TDM) and Moçambique Celular S.A. (Mcel). Its main objective is to provide telecommunications services throughout the national territory.

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