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State-Owned Enterprises Turnover Increased 127.4B Meticals in 2021

State-Owned Enterprises Turnover Increased 127.4B Meticals in 2021

In 2021, companies in the State Business Sector (SEE) represented a turnover equivalent to 11.2 per cent of the country’s Gross Domestic Product (GDP), totalling 127.4 billion meticals, a relative increase compared to the 121.8 billion meticals in 2020.

According to the accounts report drawn up by the Institute for the Management of State Holdings (IGEPE) and published on Thursday (11) by Lusa, of the total number of companies in the period under review, the SEE had eight considered strategic and structuring, eight strategic-social and seven of economic and financial interest.

a d v e r t i s e m e n t

The report also describes that the SEE companies distributed 5.8 billion meticals in dividends in 2021, employed more than 19,000 workers, represented tax revenue of 24.9 billion meticals and had an investment of 604 billion meticals.

“The SEE recovered from the negative net result of around 6 billion meticals recorded in 2020, to a positive net result of 11.7 billion meticals in 2021, influenced mainly by the reduction in costs and the increase in revenue,” he emphasised.

a d v e r t i s e m e n t

Article 10 of the bill approving the Economic and Social Plan and State Budget (PESOE) for 2024 authorises the government to “issue guarantees and sureties for a maximum amount of 32 billion meticals in favour of the SEE”.

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In the document, the Executive guarantees that it will continue with the restructuring of the SEE in 2024, and assumes that this process has already led to a 9 per cent increase in dividend income for the state.

“IGEPE’s Activity Plan and Budget for 2024 includes continuing to implement the strategy of making the SEE companies viable and profitable, with a focus on Regadio de Baixo Limpopo (RBL), telecommunications operator Tmcel, Mozambique Airlines (LAM) and Mozambique Airports (ADM),” it clarifies.

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