Empresa Moçambicana de Seguros (EMOSE) said it was still evaluating the possible purchase of state shares in the company Linhas Aéreas de Moçambique (LAM), pointing out that only after this analysis will it decide whether to go ahead with the deal.

The country's oldest insurance company is one of the three state-owned companies nominated to buy 91% of the state's shares in the airline, according to the decision announced by the Council of Ministers two weeks ago.

Meanwhile, speaking this Monday on the sidelines of the 34th national meeting of the insurer's managers, the Chairman of the Board of Directors (PCA), Janfar Abdulai, said that EMOSE has not yet decided, nor does it know how much its contribution will be, much less what gains it will make from the deal.

"We are going to make our assessment. EMOSE sees this issue as an opportunity for investment, so it will make an assessment in order to be able to decide," said Janfar Abdulai, quoted in a publication by Letter from Mozambique.

According to the manager, EMOSE's participation in LAM's shareholder structure is a government decision and its implementation is being carried out by the Institute for the Management of State Holdings (IGEPE).

"We, as EMOSE, have been asked to work with IGEPE and other potential partners to materialize this action. We don't yet have concrete data that we can share, but we have been discussing with the IGEPE to materialize this decision," said the PCA.

(Photo DR)