The Mozambican Government might sell to private shareholders some of its stakes in local companies.

But such a move would only be considered for enterprises that are not considered of strategic importance economically, said Apolinário Panguene, president of the government’s Institute for the Management of State Holdings (IGEPE).

He told online news media outlet Macauhub that Mozambican Government stakes in over half of 117 companies it currently managed were “very small” and it had already started the sales of shares in some of those companies.

For instance, IGEPE was considering selling its 20-percent stake in a subsidiary of construction company Soares da Costa, according to the report.

But he admitted IGEPE faced delays in some cases as the Government was only a minority shareholder and other partners “have preferential rights”.

Mr Panguene said the institute’s profits were down by 33 percent from the previous year to 68.2 million meticais in 2014. He added IGEPE would boost its presence in the areas of gas and coal exploration.