Cornelder de Moçambique is best company in Mozambique in 2011 and Mozal the largest, KPMG says

14 December 2012

Cornelder de Moçambique was considered to be the best company in Mozambique in 2011 whilst aluminium foundry Mozal topped the lost of the 100 biggest companies in the country, according to this year’s edition of the annual report drawn up by consulting company KPMG Moçambique.

In 2011, Cornelder de Moçambique, the company that manages the port of Beira, posted turnover growth of 33 percent, with a 72.9 percent rate of return on equity (ROE).

Meanwhile, aluminium company Mozal topped the list of Mozambique’s 100 biggest companies with turnover of 43.1 billion meticals in 2011, followed by oil company Petróleos de Moçambique (Petromoc), the Cahora Bassa Hydroelectric Dam (HCB), mobile telecom Moçambique Celular (mCel), and power transmission company Companhia de Transmissão de Moçambique (Motraco).

In this year’s list BP Moçambique, which in 2011 was in 11th place, rose to 10th and swapped places with Mozambique Leaf Tobacco, which dropped from 10th to 11th place in the ranking.

The survey of Mozambique’s 100 biggest companies, which was first published 14 years ago, is published every year by KPMG with a view to boosting competition between companies and transparency, as well as being a tool to analyse the performance of the companies and the country’s economy. (macauhub)