LInhas Aéreas de Moçambique (LAM) and Aeroportos de Moçambique (ADM) benefited from state financial support worth around 27 million US dollars in 2025, in a context where the State Business Sector (SEE) continues to represent one of the main risks to the country’s public finances.
According to Lusa, the information is contained in the Fiscal Risk Monitoring Report published by the Government, which identifies public companies as a persistent source of pressure on the State Budget due to financial weaknesses recorded in some strategic entities.
According to the document, LAM absorbed approximately 20 million US dollars in state support, while Aeroportos de Moçambique received around 7 million US dollars. Despite these financial interventions, the report notes that no guarantees were contracted by SEE companies during 2025.
Even so, the Government considers that the public business sector continues to represent a significant fiscal risk, since the recurring need for financial assistance reflects structural weaknesses that may translate into additional costs for the State.
The report states that the support granted highlights the persistence of financial constraints in companies considered strategic for the national economy, keeping the SEE as a pressure factor on public accounts even in the absence of new contingent liabilities in the form of state guarantees.
This assessment comes in a year marked by the materialisation of several fiscal risks, including economic slowdown, lower-than-expected public revenues, rising public debt, and the impacts of extreme weather events.
Despite these challenges, the Government has argued that the financial performance of the SEE shows signs of improvement. Data presented in Parliament indicates that revenues generated by the sector increased by 35% in 2024, reaching 12.3 billion meticais, driven mainly by dividends and proceeds from the sale of shares and assets.
In the assessment of the 2024 State General Account, the Prime Minister, Benvinda Levi, stated that the Executive is implementing measures aimed at reducing fiscal risks associated with state-owned companies, through restructuring processes focused on financial sustainability, operational efficiency, and performance evaluation of managers based on economic value added.
According to the Prime Minister, these reforms aim to strengthen the competitiveness and financial solidity of state-owned companies, gradually reducing dependence on public support and increasing their contribution to Treasury revenues.
