Africa-Press – Mozambique. The Mozambican Government has approved a resolution authorizing the establishment of a “Special Purpose Company” aimed at securing financing for the acquisition of a stake in the publicly-owned company Mozambique Airlines (LAM).
According to the government decision, which was announced on Tuesday at a meeting of the Council of Ministers (cabinet), the Special Purpose Company will be owned by the three public companies that have taken shares in LAM, namely Hidroelectrica de Cahora Bassa (HCB), which operates the Cahora Bassa dam on the Zambezi River, the rail and port company, CFM, and the insurance company EMOSE.
These companies are responsible for the LAM restructuring committee, which is tasked with solving LAM’s current financial crisis and normalizing the company’s operations.
The government also approved the resolution authorizing the payment of annual installments of LAM’s debt, guaranteed by the State with commercial banks, and the Institute for the Management of State Holdings (IGEPE).
For More News And Analysis About Mozambique Follow Africa-Press
