Good afternoon. It seems that Tmcel’s time as a state-owned company is finally up; but who, if anyone, will take on the ailing telco — and will they force public entities to pay their bills?
But before the Leader, a bumper crop of Zitamar’s own stories:
The latest from Zitamar News:
Speculation about a possible withdrawal of the FADM, leaving Mocímboa da Praia under the protection of the Rwanda Defence Force and the Mozambican police, has circulated around the town for several days. Soldiers comprise many of the paying customers businesses have relied on since the return of civilians to the town since June last year
The company is already making efforts to downsize its staff, which currently stands at around 1,400 people. An internal document seen by Zitamar shows that, at the end of March, the company’s debt was $423m.
The crossing connects Palma to the Tanzanian city of Mtwara, one of the main supply centres for northern Cabo Delgado.
It seems that Tmcel’s time as a state-owned company is finally up. After years of expectations, the current transport and communications minister Mateus Magala appears ready to pull the trigger — if a suitable new owner can be found.
That aim was not achieved with the airline LAM, with a number of international airlines approached by Mozambique, but who turned down the opportunity as the company is, Magala said today, close to bankruptcy.