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Mozambiquehub

MRM is the second company in the mining sector to contribute most to Mozambique’s tax revenues

28 April 2020
Montepuez Ruby Mining (MRM) is the second company in the mining sector to have paid most in taxes to the Mozambican state, consecutively, in 2017 and 2018, according to the 8th report of the Extractive Industries Transparency Index (EITI).

Mota-Engil Group secures contract for natural gas project in Mozambique

28 April 2020
Mota-Engil África signed, as part of a 50/50 partnership with BESIX, a Belgian company specialising in maritime projects, a contract that is part of the project for extraction of natural gas in Mozambique, in the province of Cabo Delgado, Portuguese group Mota-Engil said in a market statement.

Bank of Mozambique extends deadline for liquidation of Nosso Banco for 90 days

28 April 2020
The Bank of Mozambique decided to extend, on an exceptional basis, the period of liquidation of the Nosso Banco bank, for a period of 90 days from the date of the end of the state of emergency (30 April), according to a statement issued by the Central Bank on Monday in Maputo.

IMF grants a US$309 million loan to Mozambique

27 April 2020
The International Monetary Fund (IMF) has provided Mozambique with a loan of US$309 million, under the Rapid Credit Facility, to help the country overcome the urgent needs of the balance of payments and tax resulting from the Covid-19 pandemic, the IMF said.

Mozambican government spends US$13 million on construction fuel stations

24 April 2020
The government of Mozambique will spend 900 million meticais (US$13.3 million) in the construction of 30 fuel stations in the north, centre and south of the country, in the current five-year period, said the chairman of the National Energy Fund (Funae).

European Union helps Mozambique to recover from cyclones Idai and Kenneth

23 April 2020
The European Union (EU) has contributed over 34.3 million euros to a joint fund intended to help Mozambique to recover from cyclones Idai and Kenneth in 2019, under a financing agreement signed in Maputo with the United Nations Development Programme (UNDP), according to a statement released on Wednesday.

Mozambique’s president approves State Budget for 2020

23 April 2020
The President of Mozambique, Filipe Nyusi on Wednesday approved and the bill for the 2020 State Budget and sent it out for publication, thus approving the Economic and Social Plan, said the President of the Republic in a statement issued in Maputo.

Banco Comercial e de Investimentos is the most systemically important credit institution in Mozambique

22 April 2020
Banco Comercial e de Investimentos (BCI) is Mozambique's systemically most important credit institution, followed by Millennium BIM and the Standard Bank, said the Bank of Mozambique on publishing the classification of banks operating in the country based on this indicator.

Hengqin Island has a role to play in China’s relationship with Portuguese-speaking countries

21 April 2020
The island of Hengqin will contribute to solving the problem of lack of space and resources in Macau, allowing it to better perform its role as a platform between China and Portuguese-speaking countries, the Macau government said in the 2020 Lines of Government Action.

Mozambique plans to manage resources for combating Covid-19 with transparency, minister says

20 April 2020
(CN) 莫桑比克经济和财政部长Adriano Maleiane在他宣布开设一个特别帐户以存放资金时，告诉国会议员，为打击Covid-19大流行，将以透明度管理财政资源。

Trade between China and Portuguese-speaking countries falls 9.37% in first two months of the year

17 April 2020
The value of trade between China and the Portuguese-speaking countries posted a drop of 9.37% year-on-year in January and February to US$21.374 billion, according to official Chinese figures released by Forum Macau.

US$15 million saved in Mozambique’s debt servicing pardon will be used to combat Covid-19

17 April 2020
The recent debt servicing pardon granted to Mozambique by the International Monetary Fund (IMF) and worth approximately US$15 million will be directed to combating Covid-19, but the high needs of the economy may lead to greater pressure on public spending, said the Bank of Mozambique.

Pandemic leads to suspension of negotiations on minimum wages in Mozambique

17 April 2020
The Ministry of Labour and Social Security, employers and employees in Mozambique decided to suspend tripartite negotiations to adjust national minimum wages by sectors of activity, due to the Covid-19 outbreak in the country, the local press reported.

EIU projects contraction of Mozambique’s economy in 2020

16 April 2020
Mozambique's economy is expected to contract by 2.4% this year said the Economist Intelligence Unit (EIU) in its latest report on the country. This projection differs from the one issued by the International Monetary Fund (IMF), which projects economic growth of 2.2%.

Mozambique collects information on national industrial base

16 April 2020
The survey of Mozambique's industrial base, which is intended to identify areas that require investment or support, is at the conclusion stage, the minister of Industry and Trade said recently in Maputo.

Mozambique launches foreign trade website

16 April 2020
Foreign trade operators in Mozambique and the public in general are from Wednesday will have access to all the information required for the process of importing, exporting and transit of goods through a new website specifically designed for the purpose, officially launched on Tuesday in Maputo.

Cabo Verde has no debt to the International Monetary Fund

16 April 2020
Cabo Verde was left out of the debt servicing pardon that the International Monetary Fund granted to 25 countries because it has never owed anything to that international organisation, said the Deputy Prime Minister and Minister of Finance, Olavo Correia in Praia on Tuesday.

IMF’s pardon to Mozambique expected to be used to further support the economy

15 April 2020
The US$15 million pardon in Mozambique's debt servicing by the International Monetary Fund (IMF) will relieve the accounts of the Mozambican state and open up room to grant further support, said the president of the Confederation of Economic Associations.

Ncondezi Energy Group suspends construction of solar plant in Mozambique

15 April 2020
The development of a project for production and storage of solar energy in Mozambique for a commercial and industrial customer has been suspended due to the Covid-19 pandemic, Ncondezi Energy said in a market statement.

IMF pardons debt servicing of 25 countries, including three with Portuguese as an official language

14 April 2020
Guinea-Bissau, Mozambique and São Tomé and Príncipe are the three of Portuguese-speaking African countries included in the list of 25 nations to which the International Monetary Fund (IMF) has offered a pardon on debt servicing, according to a statement released on Monday in Washington.
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