News Update - Telecoms and ICT in Africa - Issue No 1056 on 9 July 2021

Top Story

Angolan Government takes back control of Movicel as financial crisis bites for President dos Santos’s former allies

9 July 2021

Sold without a proper tendering process in 2009 to the allies of former President dos Santos former state-owned mobile operator Movicel is in financial trouble. Russell Southwood looks at the different reasons the Government has for repossessing the company. According to a report in Expansao, Movicel has racked up considerable interconnection debts with Angola Telecom and exhausted its credit with international carriers, who have cut off many of its services. Its private shareholders (of which more below) probably thought of it as a cash cow, much as Isabel do Santos used her shareholding at Unitel to raise capital for other…