09 March 2021
The Gabonese government is preparing to sell more shares held in the recently rebranded Moov Africa Gabon Télécom.
According to local reports, the sale is linked to a cash shortage, combined with a need to build up financial resources. A report also said that according to the 2021 finance law, the country’s parliament has now authorized the state to sell its assets held in Maroc Telecom subsidiary Moov, as well as Gabon Energy and Water Company (SEEG), the Gabonese Banking Union.
At the moment, the state’s share of in Moov is 49% and a recently passed law specifies that the assets in all three groups will be reserved for Gabonese investors. In June 2016 Maroc Telecom merged Gabon Telecom with Moov Gabon, reducing the number of mobile network operators in the country from four to three.
In January this year, Maroc Telecom rebranded all its eleven subsidiaries in Africa as Moov. Active in Benin, Burkina Faso, Cote d’Ivoire, Gabon, Mali, Mauritania, Niger, the Central African Republic, Chad and Togo, the operator wants to unite its subsidiaries and customers around a common identity.