Mozambique – Macauhub

Government of Mozambique wants to end 2019 with a bank branch in each district

15 February 2019

The Mozambican government plans to reach the end of 2019 with a bank branch opened in all 154 districts of the country, the Council of Ministers spokesperson said in Maputo this week.

World Bank helps Mozambique reduce carbon emissions

15 February 2019

The World Bank has announced that it will grant up to US$50 million to Mozambique to help the country reduce carbon emissions and deforestation, according to a statement released this week in Washington.

Mozambique’s domestic public debt continues to rise, central bank says

14 February 2019

Mozambique's domestic public debt including Treasury Bills, Bonds and advances from the Bank of Mozambique reached 112.525 billion meticais (US$1.787 billion) at the end of January, the central bank said.

Economist Intelligence Unit says Mozambique is an “authoritarian regime”

14 February 2019

Mozambique is currently defined as an "authoritarian regime," with a rating of less than four out of ten possible points, according to the Democracy Index of the Economist Intelligence Unit.

Indian group plans to start importing natural gas from Mozambique in 2024

13 February 2019

Indian state group Bharat Petroleum Corporation Ltd (BPCL) plans to import natural gas extracted from the Rovuma basin in Mozambique within five years, a group official said.

Mozambican government creates entity to develop Mphanda Nkuwa dam

13 February 2019

The Mphanda Nkuwa Hydroelectric Project Implementation Office (Gmnk) will be the entity responsible for coordinating and carrying out the necessary actions for the development of the project, according to the Mozambican Ministry of Mineral Resources and Energy.

Final investment decision for Mozambique’s Area 1 block, scheduled for March/April

12 February 2019

A final investment decision for the exploration of natural gas deposits in the Rovuma Basin Area 1 block, northern Mozambique, is expected to be made in March/April, said the chairman of state-owned oil and gas company Empresa Nacional de Hidrocarbonetos.

Australian company sells graphite mining assets in Mozambique

11 February 2019

New Energy Minerals has signed a binding agreement with Auspicious Virtue Investment Holdings for the sale of its remaining 50% stake in Balama Properties Pty Limited in Mozambique, the Australian company said in a statement issued on Friday.

Gemrock acquires ruby mining licenses in Mozambique

11 February 2019

Gemrock, a subsidiary of Indian group Diacolor International DMCC, has acquired all of Regius Group's assets in Mozambique, which include six licenses for ruby mining, the Diamond World website reported.

Shell, Centrica and Tokyo Gas buy natural gas to be extracted in Mozambique

8 February 2019

Mozambique LNG1 Company Pte. Ltd., the trading company of the partners in Mozambique's Area 1 Block, has signed natural gas sales contracts with the Shell group and British groups Centrica and Japan's Tokyo Gas Co, the Anadarko Petroleum group reported in statements released in Houston.

Mozambique is expected to produce 140,000 tonnes of cashew nuts in 2018/2019

8 February 2019

Mozambique is expected to produce 140,000 tonnes of cashew nuts in the 2018/2019 year, said the head of the Technology Development division of the Nampula delegation of the National Cashew Institute (Incaju), Halahala Abdurremane.

Chinese group CNOOC buys natural gas to be extracted in Mozambique

4 February 2019

The China National Offshore Oil Corporation (CNOOC) will buy 1.5 million tons of natural gas per year to be extracted and processed in Mozambique over a 13-year contractual period, US group Anadarko Petroleum said.

Anadarko Petroleum needs armoured vehicles for Mozambique

1 February 2019

US-based group Anadarko Petroleum plans to acquire a fleet of six armoured vehicles for the natural gas project in the Rovuma basin in northern Mozambique, according to an announcement posted on Thursday in Mozambican daily newspaper Notícias.

Trade between China and Portuguese-speaking countries increases 25% in 2018 to US$147.354 billion

31 January 2019

The value of trade between China and the Portuguese-speaking countries reached US$147.354 billion in 2018, an increase of 25.31% year-on-year, according to official Chinese figures released by Forum Macau.

Bengo thermal power plant in Mozambique will have feasibility study completed before the deadline

31 January 2019

The definitive study to confirm the commercial and operational feasibility of the construction of a thermal power plant in Bengo, Mozambique, is expected to be completed before the originally planned deadline, UK company Kibo Energy, formerly Kibo Mining, said on Wednesday.

Mozambique saves US$240 million with the elimination of 30,000 “phantom” civil servants

31 January 2019

Mozambique will save 15 billion meticais or US$240 million by eliminating 30,000 "phantom" public employees from its payrolls, said the Director of Planning and Cooperation of the Ministry of State Administration and the Civil Service.

Anadarko Petroleum Group employs over 4,700 Mozambicans

30 January 2019

The natural gas extraction and liquefaction project led by US group Anadarko Petroleum already directly and indirectly employs more than 4,700 Mozambican workers or 94% of the total workforce through service companies, the group's Mozambican subsidiary said in a statement.

European Investment Bank opens Portugal’s SME credit line in Portuguese-speaking countries

29 January 2019

The European Investment Bank (EIB) and Portugal's Development Finance Corporation (Sofid) have signed an agreement to open a credit line of up to 12 million euros to benefit small and medium-sized Portuguese companies in Portuguese-speaking countries, the EIB said in a statement.

US businesspeople want more security before investing in Mozambique

28 January 2019

Mozambique needs to accelerate the reconciliation process between ruling party Frelimo and opposition party Renamo and improve anti-corruption mechanisms to attract more investors and be more competitive in Africa, the United States embassy in Maputo said in Maputo.

Mozambican power company Edm records loss of US$100 million per year due to illegal connections

28 January 2019

Mozambican state electricity company EDM loses US$100 million annually due to illegal connections to its grid, the company's new chairman, Ale Sicola, told Mozambican newspaper O Pais adding that he plans to introduce "smart" electricity meters to minimise the problem.

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