Mozambique – Page 3

Mozambican company starts production of cooking oil in 2019

31 December 2018

Mozambican company Plexus plans to start producing cooking oil from cottonseed at an industrial plant in the Montepuez district of Cabo Delgado province in 2019, the district administrator said.

Portugal is Angolans’ most popular air destination in December

31 December 2018

The cities of Lisbon and Porto in Portugal were the main destinations of Angolans leaving the Angolan capital Luanda during the month of December for Christmas holidays and for health reasons, according to the Angop news agency.

Mozambique’s economy expected to grow by 7.5% in 2023, EIU

28 December 2018

Mozambique will have to wait until 2023 to achieve economic growth of 7.5%, a rate it was used to in the not too distant past, according to forecasts by the Economist Intelligence Unit.

Mozambique’s national air carrier has to prepare for competition

28 December 2018

Mozambican national air carrier Linhas Aéreas de Moçambique (LAM) must prepare to operate in a competitive context, said the deputy minister of Transport and Communications, Manuela Rebelo.

Geocapital sells stake in Caixa Económica de Cabo Verde

27 December 2018

GeoCapital, Gestão de Participações, has decided to sell the 27.44% stake it held in Caixa Económica de Cabo Verde (CECV), the financial institution's chief executive said.

Syrah Resources to sell graphite from Mozambique to another company in China

21 December 2018

Syrah Resources has signed a binding contract with Chinese company Qingdao Langruite Graphite to provide 48,000 tonnes of graphite to be extracted from the Balama mine in Mozambique, the Australian company said.

French company builds solar power plant in Mozambique

19 December 2018

French company Neoen signed a concession agreement with the Mozambican government on Tuesday in Maputo for the construction of a solar power plant, with an estimated cost of more than US$50 million, according to the Mozambican press.

Mozambique can help traditional Chinese medicine companies enter African markets

19 December 2018

Mozambique could be a platform through which traditional Chinese medicine companies in the Guangdong, Hong Kong, Macau Greater Bay region could make a "soft landing" in Africa the Secretary for Economy and Finance of Macau said recently.

German company to produce identification documents in Mozambique

19 December 2018

The Mozambican subsidiary of German group Mühlbauer will start producing biometric civil identification documents in Mozambique as of February 2019, announced the Ministry of the Interior.

Ninety percent of construction companies in Mozambique are failing

18 December 2018

The vast majority of Mozambican construction companies will suffer losses in the 2018 tax year, said the president of the Mozambican Federation of Contractors.

Wentworth Resources gives up oil exploration in Mozambique

18 December 2018

Wentworth Resources will give up its 85% stake in the northern Mozambican Tembo block on 30 April 2019, the company said in a statement on Monday.

Trade between China and Portuguese-speaking countries exceeds US$108 billion from January to September

17 December 2018

The value of trade between China and the Portuguese-speaking countries reached US$108.928 billion from January to September, a year-on-year increase of 21.22%, according to official Chinese data released by Forum Macau.

Moza Banco acquires the entire capital of Banco Terra Moçambique

17 December 2018

Moza Banco has acquired the entire capital of Banco Terra Moçambique, "a purchase that will consolidate the financial and equity structure of the banking institution," according to the Chairman of the Board of Directors, João Figueiredo.

IMF representative predicts Mozambique’s economy will grow between 4.0% and 4.7% in 2019

17 December 2018

Mozambique's economy is expected to grow at between 4.0% and 4.7% in 2019, the International Monetary Fund's (IMF) resident representative in Mozambique said recently in Maputo.

Partners seek funding for gas exploration in the Area 1 block in Mozambique

14 December 2018

The process of securing funding from international banks for the project to explore natural gas deposits in the Rovuma Area 1 block in northern Mozambique has begun, the Mozambican minister of Mineral Resources and Energy announced in Maputo.

New Executive Secretary of the CPLP takes office on Saturday

14 December 2018

The new executive secretary of the Community of Portuguese Speaking Countries (CPLP), Portugal's Francisco Ribeiro Telles, is due to take office on Saturday in Lisbon, according to an official announcement.

Kibo Energy and Electricidade de Moçambique renew memorandum of understanding

13 December 2018

Kibo Energy, formerly Kibo Mining, has renewed and expanded the memorandum of understanding signed with Mozambican state-owned power company Electricidade de Moçambique (EdM) to finance and build the Benga project, the company said in a statement released on Wednesday.

Credit risk company Compuscan authorised to operate in Mozambique

13 December 2018

South African credit risk information company Compuscan has been authorised by the Bank of Mozambique to operate in the country, according to a statement released on Wednesday in Maputo.

Concession on the Cahora Bassa Hydroelectric Plant in Mozambique extended for another 15 years

12 December 2018

The concession contract for the Hidroeléctrica de Cahora Bassa (HCB) hydroelectric facility was extended for another 15 years under a government-approved decree on Tuesday, the spokeswoman for the Mozambican Council of Ministers announced.

Qatar Petroleum enters oil prospecting in Mozambique

11 December 2018

Qatar Petroleum has signed an agreement with US group Exxon Mobil to acquire a 10% stake in three maritime exploration blocks in Mozambique, the company said in a statement.

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