Mozambique – Page 3

Growth of Mozambican economy slows in the third quarter of 2019

3 December 2019

Mozambique's economy grew at a year-on-year rate of 2.0% in the third quarter of 2019, maintaining its downward trend since the first quarter of the year, according to the National Statistical Institute (INE) when disclosing the National Accounts for the period.

Mozambican government pays the state’s debt to 4,000 companies

2 December 2019

Four thousand state creditors for the provision of goods and services from 2007 to 2017, but whose payments required approval by the Administrative Court will receive the arrears owed to them, the Confederation of Economic Associations of Mozambique (CTA) announced.

Mozambican commercial banks see solid performance in 2018, KPMG says

29 November 2019

Commercial banks operating in Mozambique performed well in 2018, with profits rising by 28% from 13.4 billion meticais in 2017 to about 17.2 billion meticais, according to a study released in Maputo by KPMG Auditors and Consultants.

Gigajoule Power and Total groups invest in Mozambique to import natural gas

28 November 2019

South African group Gigajoule Power and France's Total on Wednesday in Maputo signed a joint development agreement to import liquefied natural gas (LNG) through the port of Maputo from the end of 2022, the international media reported.

Vale Group plans to increase coal production in Mozambique in 2020

28 November 2019

The Vale mining group intends to produce 15 million tons per year at the Moatize coal mine, Tete province, Mozambique, in the second half of 2020, the Brazilian group said in a statement announcing US$3.2 million in impairments.

Capital gains charges used in Mozambique for emergency expenses

28 November 2019

The Mozambican government has withdrawn US$248 million from the US$880 million capital gains tax charged on the sale of assets of the Anadarko Petroleum group to the Total group to finance “emergency expenses,” said the Minister of Economy and Finance.

Mozambique Stock Exchange launches Third Market

28 November 2019

The Mozambique Stock Exchange (BVM) has launched the Third Market, aimed at preparing companies of any size so that their shares can be listed over time, the institution's president Salim Valá said on Wednesday in Maputo.

Beira fishing port in Mozambique to be privately managed

27 November 2019

Investors from Mozambique, Spain, China and Mauritius have expressed interest in managing the fishing port of Beira, in Sofala province in central Mozambique, said Carlos Calenga, director of the port's management company.

Exploration of heavy sand deposits provides tax revenues to Mozambique

27 November 2019

Exploration of heavy sand deposits in the Quewene region of Vilanculos district will provide the Mozambican state with revenues of several million dollars over the next five years, the deputy managing director of Haiyu Mozambique Mining Co Lda, Juyi Li, said recently.

ADB grants US$400 million loan for natural gas project in Mozambique

27 November 2019

The African Development Bank (ADB) has approved a US$400 million loan for the Rovuma Basin Area 1 natural gas project in northern Mozambique, the institution said in a statement issued on Tuesday.

Illegal fishing in Mozambique generates tax loss of US$56 million per year

26 November 2019

Mozambique loses US$56 million in tax revenue annually from illegal fishing along its more than 2,500 kilometres of coastline, said Leonilde Chimarizane, head of the National Supervisory Directorate of the Ministry of the Sea, Inland Water and Fisheries.

Cabo Verde proposes that official documents be reciprocally recognised in Portuguese-speaking countries

26 November 2019

The Prime Minister of Cabo Verde proposed that documents issued by a Member State of the Community of Portuguese-Speaking Countries (CPLP) no longer need legalisation for presentation in another Member State, as he addressed the opening of the 16th Conference of Ministers of Justice of the Portuguese-Speaking Countries.

Hong Kong financial group prepares acquisition of Angolan-owned bank

25 November 2019

Banco Atlântico Europa (BAE), based in Portugal and owned by Angolan investors, is about to be sold to a Hong Kong financial group, in a deal similar to the one that led to the entry of China's Bison into Portuguese-speaking countries.

Port of Pemba, northern Mozambique, granted SPS Code by the International Maritime Organization

25 November 2019

The Port of Pemba has the capacity to respond to situations related to theft and piracy, unauthorised access, embarkation of drugs and physical attacks on its facilities, said the delegate of the main and largest port of Cabo Delgado province, northern Mozambique.

Tolls to be charged from 1 December on road linking Beira, in Mozambique, to Zimbabwe

25 November 2019

Toll charges on National Road Number Six (EN6), which connects the Mozambican port city of Beira with the border village of Machipanda on the Zimbabwe border, will begin on 1 December, said the Mozambican Minister of Public Works, Housing and Water Resources.

Governor gives assurances that Bank of Mozambique fulfills mission in 2019

22 November 2019

The Bank of Mozambique has fulfilled its mission of consolidating the stability of the country's macroeconomic and financial system, despite the particularly complex economic, political and social scenario, both domestically and internationally, the governor of the central bank said.

World Bank funds construction of railway line in Mozambique

20 November 2019

The World Bank will finance the construction of a 27-kilometre railway line between Matola Gare and Albazine railway stations in the metropolitan area of Maputo, southern Mozambique, the president of Metrobus said.

Road concessions launched in Mozambique from April 2020

20 November 2019

The concession of Mozambique's national road sections to private operators is expected to take place in April 2020, said the director-general of the National Roads Administration (ANE), quoted by Mozambican daily newspaper Notícias.

Mozambique’s ENH is expected to get the funding it needs, EIU says

19 November 2019

Mozambique's national oil and gas company, ENH; is expected to secure the funds needed for its 15% stake in the Rovuma basin Area 1 natural gas project in northern Mozambique, according to the latest report on the country by the Economist Intelligence Unit (EIU).

Savannah Resources secures new mining concession in Mozambique

19 November 2019

The Savannah Resources Group has been granted a third mining concession for the Mutamba heavy sands project in Mozambique, the London-based group said in a market statement released on Monday.

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