Movicel with new shareholder structure and new PCA

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A Movicel has just undergone a change in the company's share capital. The State now ensures the majority (57%) with four entities - INSS (25%), Angola Telecom (18%), Infrasat (12%) and Correios de Angola (2%) – and a new entity enters, GAFP (38%), which, according to what was found by Expansão, is a capital economic group. Angola with investment capacity, who believes that with new management this can be a profitable business.

This new shareholder is also already in this sector, has a 30% stake in Infrasat, which in practical terms means 3% more in the capital of Telefónica. It has the Government's promise that it will count on the support of public companies represented in the share capital to make structural changes and profound changes in the way Movicel works.

At last Monday's meeting, changes were also made to the board of directors, the foreseeable departure of Aristides Safeca, which was considered by the new shareholders as an impediment to implementing a new direction for the company, led to the appointment of a new CEO , Filipe Zola, who is currently director for the INSS financial area, having a background linked to banking, having worked at BCI and Banco Postal, worked at General Electric in the United States, and is now a senior manager of Social Security.

Filipe Zola will not, however, have executive functions, these will be the responsibility of Paul Jalkaran, a Movicel staff member for over 20 years, linked to the technical area, and who was already part of the board of directors in the previous structure, now appointed president Executive Committee (PCE).

This committee will have five elements, there are still two places available, two will be transferred from the previous structure, and the company intends to hire experienced professionals in this sector, with international experience. As for the Board of Directors, two more non-executives will also be appointed to complete the body.

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