Mozambique – Page 5

China is Mozambique’s largest country creditor up to 2017

18 January 2019

China was Mozambique's largest creditor country at the end of 2017, with loans totaling US$1.8 billion, according to the Report and Opinion of the Administrative Tribunal on that year's State General Account.

Mozambique sets up gold trading warehouse in Manica

18 January 2019

Mozambican state-owned Empresa Moçambicana de Exploração Mineira (EMEM) will set up a commercial warehouse in the province of Manica for the purchase and sale of gold mined in the province, the deputy minister of Mineral Resources and Energy announced on Thursday.

Mozambique records inflation rate of 3.91% in 2018

16 January 2019

Mozambique ended 2018 with an inflation rate of 3.91%, with accumulated 12-month inflation rising to 3.52%, the National Statistics Institute (INE) said on Tuesday in Maputo.

Cahora Bassa hydroelectric plant in Mozambique increases electricity production in 2018

16 January 2019

The production of electricity at the Cahora Bassa Hydroelectric Power Plant (HCB) in the central Mozambican province of Tete totalled 13,659 gigawatt hours in 2018, an annual increase of 1.39%, the company said in a statement.

Syrah Resources extracts 104,000 tonnes of graphite in Mozambique in 2018

15 January 2019

Graphite production at the Balama concession in northern Mozambique reached 104,000 tonnes in 2018, with 33,000 tonnes in the fourth quarter alone, Australian company Syrah Resources said on Monday.

Obtala Group increases stake in subsidiary that controls forest concessions in Mozambique

11 January 2019

The Obtala Limited group has increased its stake in subsidiary Montara Continental Limited from 75% to 100%, according to the Guernsey-based agroforestry group.

International transport groups position themselves in northern Mozambique

10 January 2019

Dutch group Mammoet has organised a fleet of specialised vehicles that will be stationed in Mocímboa da Praia, Cabo Delgado province, northern Mozambique, with the respective crew, the group said in a statement.

World Bank forecasts economic growth of 2.9% in 2019 for Angola

10 January 2019

Angola is expected to post economic growth of 2.9% in 2019, up 0.7 percentage points from the June 2018 forecast, the World Bank said on Wednesday.

Mozambican Attorney General’s Office awaits response to letters rogatory

8 January 2019

The Attorney General's Office of the Republic of Mozambique os still waiting on a reply to letters rogatory sent to the United States, United Kingdom and United Arab Emirates regarding the case of hidden debts, according to a statement released on Monday in Maputo.

India grants credit line to Mozambique to buy railway equipment

7 January 2019

The Exports and Import Bank (ExIm) of India has opened a credit line of US$95 million for Mozambique to acquire railway equipment under an agreement recently signed in Maputo, the bank said.

Gas-fired power plant planned for Temane in Mozambique

7 January 2019

The government of the Mozambican province of Inhambane and qualified strategic partners are planning to start construction of a gas-fired power station in Temane in the Inhassoro district this year, the AIM news agency reported.

Mozambican Tax Authority announces tax pardon for companies

4 January 2019

Five large Mozambican state-owned companies are on the list of debtors that will benefit from a tax pardon, said the president of the country's Tax Authority.

Final investment decision of the Area 4 block in Mozambique, scheduled for 2019

31 December 2018

The final investment decision for the Area 4 block in northern Mozambique is expected to be made in 2019 as partners involved in the project have committed to buying the natural gas to be extracted, reported Italian group ENI.

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.

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