Government planning to sell further stake in Gabon Telecom

8 Feb 2021

Gabon’s parliament has passed the country’s 2021 Finance Law authorising the state to further reduce its holdings in several companies including Gabon Telecom (Moov Africa) during the financial year, reports Le Nouveau Gabon. The law specifies that the assets in Gabon Telecom, banking group Union Gabonaise de Banque and utility company SEEG will be reserved for Gabonese investors. The state previously sold a 51% stake in the telecom operator to Maroc Telecom in 2010 and currently owes the majority shareholder around XAF10 billion (USD18.4 million). Sources claim the Gabonese state will retain a holding in the incumbent telco in order to monitor its progress.

Gabon, Gabon Telecom (Moov Africa)