(Ecofin Agency) - Mozambique’s public telecom company Tmcel, which was created in January 2019 from the merger of Telecomunicações de Moçambique (TdM) and Mozambique Cellular (Mcel), needs $200 million to invest in several transformative projects in 2020. The information was given by Ana Coanai, president of the state asset management institute IGEPE, in an interview with Noticias.

In 2016, when the new operator project was born, the Mozambican government claimed that it would benefit from “the technological, financial and human resources to meet market demands and achieve convergence of fixed and mobile voice, data and Internet services.” These projects require an extension and improvement of the telecom network.

In 2019, the operational activity of the company that has embarked on 4G focused on network improvement, mainly in areas with little coverage in Mozambique. According to Ana Coanai, the telecom company's financial needs will be covered by bank credits.

According to the Mozambican government, the country's coverage rate for telecom services is close to 85%, compared to nearly 65% in 2014. While the fixed market segment is monopolized by TmCel, the mobile segment is disputed between Vodacom, Movitel, and TmCel.