Mozambique government takes over Tmcel management amid probe

Mozambique government takes over Tmcel management amid probe

Mozambique’s state asset management unit is taking over the daily operations of Mocambique Telecom (Tmcel).

IGEPE (Instituto de Gestao das Participacoes do Estado) holds a 90% stake in Tmcel, and is assuming control over the operator amidst while a committee is established to investigate allegations of mismanagement. Local newspaper O Pais reports that Tmcel’s debts now total more than US$300 million.

CommsUpdate notes that Tmcel leads Mozambiques fixed voice and broadband markets, but is the smallest of the country’s three mobile providers, with just 13% overall market share by subscribers.

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