Mozambique – Page 3

Mozambique’s economic growth dependent on natural gas projects, EIU says

20 September 2019

The start of exploration of natural gas deposits in the Rovuma basin in 2023 will see Mozambique's economy growing at a rate of 7.5% that year, said the Economist Intelligence Unit (EIU) in its latest country report.

Construction of Temane-Maputo Line in Mozambique begins in June 2020

20 September 2019

Mozambican power company EdM is expected soon to announce the start of the selection process for the contractor that will build the Temane-Maputo power transmission line, said director Carlos Yun.

Dutch group hired for a natural gas project in Mozambique

20 September 2019

The Smit Lamnalco group has been hired to provide integrated maritime services for the installation of a floating liquefied natural gas unit in the Area 4 block of the Rovuma basin, northern Mozambique, the group said.

Vitol and ENH of Mozambique establish a partnership based in Singapore

19 September 2019

Vitol and the Mozambican state-owned oil and gas company ENH have formed ENH Energy Trading, a partnership focused on trading oil products, according to a statement issued on Wednesday.

China Road and Bridge Corporation builds a metal bridge in Mozambique

18 September 2019

The government of Mozambique will draw up a national bridge safety programme to ensure the longevity and weather resistance of the country's bridges, said the Minister of Public Works, Housing and Water Resources.

Mozambique hires consortium for Mphanda Nkuwa hydroelectric project

17 September 2019

A consortium made up of Synergy Consulting, Baker Mckenzie, Worley Parsons and HRA Advogados is the entity that will provide technical assistance to the Government of Mozambique for the Mphanda Nkuwa hydroelectric project, an official source said.

Mozambican government plans to resume IMF funding “as soon as possible”

13 September 2019

The Mozambican government will "do its utmost" to reach an agreement to resume financing from the International Monetary Fund (IMF) "as soon as possible," said the Minister of Industry and Trade on Thursday in Maputo.

“Good faith” creditors will be repaid by Mozambique

13 September 2019

The Mozambican government is respecting the decision of the Constitutional Council to cancel the undeclared debt of Mozambican tuna company Ematum, the Minister of Economy and Finance said on Wednesday in Maputo.

Mozambique’s economy grows 2.3% in the second quarter of 2019

13 September 2019

Mozambique's Gross Domestic Product grew by 2.3% in the second quarter of 2019 compared to the same period of 2018, according to the National Statistics Institute.

Mozambique will be a middle-income country by 2035

12 September 2019

Mozambique is expected to become a middle-income country by 2035 by meeting the targets set in the country's National Economic Development Strategy 2015/35, said the Minister of Economy and Finance.

Savannah Resources granted two mining concessions in Mozambique

11 September 2019

Savannah Resources has secured two new mining concessions from the Mozambican government for the Mutamba heavy sands project, the mining group said in a market statement on Tuesday.

Germany finances agriculture in Mozambique with a credit line

10 September 2019

The German Government has opened a 10 million-euro credit facility to finance micro, small and medium enterprises in Mozambique's agricultural sector, and contracts were signed on Monday in Maputo.

Mozambican creditors approve proposed restructuring of Eurobond issue

10 September 2019

The creditors of the Mozambican tuna company, Ematum, issue of Eurobonds have approved almost all of the restructuring proposal presented by the Government of Mozambique, according to an official statement.

Mozambican companies invited to submit proposals for goods and services to ENI group

9 September 2019

Mozambican companies interested in providing goods and services to the subsidiary of the Italian group ENI have to submit their proposals by 24 September, according to recently released announcements.

Construction of Caia-Nacala power transmission line in Mozambique, begins this year

5 September 2019

Construction of the power transmission line from Caia, in Sofala province in central Mozambique to Nacala-a-Velha in Nampula will begin before the end of the year to meet the need to improve service quality in the north of the country, said the Minister of Mineral Resources and Energy.

Bank of Mozambique reduces reserve requirement ratio in national currency to 13.0%

5 September 2019

The Bank of Mozambique has reduced its reserve requirement ratio by 100 basis points to 13.0% for liabilities denominated in local currency, the central bank said in a circular published on Tuesday on its website.

Mozambique sets up electronic platform for investors

4 September 2019

Mozambican and foreign investors will soon be able to make use of a digital platform that will provide information on investment and export opportunities in Mozambique, the first version of which was presented at the recently concluded 55th International Maputo Fair (FACIM), reported the Mozambican press.

Mozambique reduces timber exports in 2018

4 September 2019

The export value of timber produced in Mozambique in 2018 totalled US$31.5 million, a 46.8% contraction from US$59.2 million in 2017, according to figures released by the National Statistics Institute.

Mozambique’s trade deficit widens by almost 90% in 2018

2 September 2019

Mozambique's trade deficit in 2018 stood at US$1.932 billion, an increase of 89.38% or US$911.7 million compared to 2017, according to the National Statistics Institute.

Chinese companies start importing agricultural products from Mozambique in 2020

30 August 2019

Chinese companies will import 60,000 tonnes of tobacco produced in Mozambique per year from 2020, making China the second-largest importer of this cash crop, the President of the Republic announced on Thursday in Angonia, Tete province.

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