The Mozambican government is looking for a strategic partner that will make it possible to recover the Linhas Aéreas de Moçambique (LAM) airline, said the chief executive of state stakeholding company Igepe, Raimundo Matule, cited by Mozambican daily newspaper Notícias.
The CEO added that no decision has yet been made, “and the government continues to discuss ways to recover the company with various partners,” but added that while looking for a partner, ways to restructure LAM are being sought, namely by analysing its cost structure to determine where spending can be cut and where funds can be raised to keep it running.
The chair of Igepe, Ana Isabel Senda, said that the restructuring of the State Business Sector (SEE) “is work that we have been undertaking since 2016 and includes the analysis of each of the companies, as well as ways to carry out the financial restructuring of the production units.”
“Our main objective,” she said, “is to make companies profitable in order to improve their contribution to state revenue, which is expected to reach 5 billion meticais (about US$80 million) within five years.”
Senda added that in 2016 and part of 2017, the SEE contributed 1.2 billion meticais, so that “within five years we can reach the sum sought, but it is necessary for this to happen to consolidate the control mechanisms of the companies.”