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Guinea Bissau to Privatise State-Owned Telcos

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The government of Guinea Bissau has said that it is laying the groundwork for the eventual privatisation of Guin Telecom.

The Prime Minister Carlos Gomes Júnior made a statement on the plans during a session to launch the restructuring project of Guiné Telecom and its mobile subsidiary, Guinetel. Both are deemed to be technically bankrupt companies.

The government has received USD15.6 million in funding from the African Development Bank (ADB) and the Ecobank to refinance the company.

"The two companies will be part of a single package to be negotiated with potential investors according to international rules and practices," said Carlos Gomes Júnior.

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Tags: Guinea-Bissau