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.
