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Mozambiquehub

Government of India freezes additional investments in Area 1 block in Mozambique

30 October 2019
The Government of India is reviewing investments by state-owned group Bharat Petroleum Corp Ltd (BPCL) in a natural gas block in Mozambique and is withholding authorisation for new capital investments, the Press Trust of India (PTI) news agency reported.

Trade between China and Portuguese-speaking countries exceeds US$96 billion from January to August

30 October 2019
The value of trade between China and the Portuguese-speaking countries grew by 2.31% year-on-year to US$96.984 billion between January and August 2019, according to official Chinese figures released by Forum Macau.

Cimentos de Moçambique sells 10,000 tonnes of cement to natural gas projects

30 October 2019
Cement company Cimentos de Moçambique has sold more than 10,000 tonnes of cement to build the initial structures for natural gas exploration projects in the Rovuma basin, in Mozambique's Cabo Delgado province, said the company's managing director, Edney Vieira.

Chinese loan finances recovery of Mozambican fishing port

29 October 2019
Dock one of the fishing port of Beira in the Mozambican central province of Sofala, a project financed by a US$120 million loan from China, was inaugurated on Monday by Mozambican President Filipe Nyusi, local media reported.

Bank of Mozambique sanctions financial institutions for irregularities

29 October 2019
The Bank of Mozambique has imposed sanctions on 20 financial institutions operating in the country for violations of the Anti-Money Laundering and Anti-Terrorist Financing Act, and of Credit Institutions and Financial Corporations, according to a statement released on Monday.

Nampula province expected to account for half of Mozambique’s cashew production

28 October 2019
Nampula province plans to produce 73,000 tonnes of cashew nuts during the 2019/2020 agricultural campaign that begins on Monday in Mozambique, thereby maintaining its status as the largest national producer, said the provincial delegate of the National Cashew Institute on Sunday in the city of Nampula.

Angola’s TAAG airline stops flying between Luanda and Rio de Janeiro

25 October 2019
Angolan airline TAAG has decided to stop flying between Luanda and Rio de Janeiro, ending an operation with a history of over 10 years under what it has called route restructuring, the company said in a statement issued on Tuesday in the Angolan capital.

Barclays Bank Moçambique is renamed Absa Bank Moçambique

25 October 2019
Barclays Bank Moçambique will change its name to Absa Bank Moçambique, from 11 November, the bank's managing director Rui Barros announced on Wednesday in Maputo.

Mozambique plans four dry docks for Manica province

24 October 2019
Manica province in central Mozambique may have four dry docks in the near future to help reduce congestion at the port of Beira in neighbouring Sofala province, the president of the Manica Provincial Business Council, Samuel Guisado, said recently in Chimoio.

Mozambique/Malawi transmission line goes to tender by March 2020

22 October 2019
The international tender for the construction of the power line between Mozambique and Malawi is due to be launched by March 2020, Mozambique's deputy minister of Mineral Resources and Energy said on Monday in Maputo.

Fastjet airline suspends operations in Mozambique

22 October 2019
Fastjet Mozambique will suspend domestic flight operations in Mozambique from midnight on Saturday, 26 October 2019, the airline said in a statement issued on Monday in Maputo.

Debt renegotiation may allow Mozambique to return to capital markets

21 October 2019
The acceptance of the proposal to restructure Mozambican tuna company Ematum's Eurobond issuance by holders could allow Mozambique to access the capital market once again and improve its relationship with some of its main creditors, according to the Economist Intelligence Unit.

Macau International Fair and PLPEX close with the signing of 85 protocols

21 October 2019
A total of 85 protocols were signed and more than 400 meetings were held at the 24th Macau International Fair (24th MIF) and the Portuguese-speaking Countries (Macau) Products and Services Exhibition 2019 (2019PLPEX) ), which closed on Saturday, 19 October, according to official information.

Syrah Resources announces a substantial reduction in graphite project workforce in Mozambique

21 October 2019
Mining group Syrah Resources plans to immediately reduce its workforce by about 30 percent at its graphite mine in the Balama district of Cabo Delgado province, northern Mozambique, the Australian group said in an update on its performance in the third quarter of 2019.

Macau wants to help Greater Bay companies enter foreign markets

18 October 2019
Macau will be able to serve the cities of the Guandong - Hong Kong - Macau Greater Bay by opening them to the outside and exploring markets in Portuguese-speaking countries, markets included in the Belt and Road initiative and international ones, the secretary for the Economy and Finance of the Macau Government said on Thursday.

Fura Gems concludes purchase of ruby prospecting license in Mozambique

18 October 2019
Mining group Fura Gems has concluded deal to buy a ruby prospecting license in the Montepuez district of Cabo Delgado province, northern Mozambique, which was initially announced in July 2018, according to a market announcement released in Toronto on Thursday.

China’s public companies are key in cooperation with Portuguese-speaking countries

17 October 2019
China's state-owned enterprises are a key force in economic and trade cooperation between China and the Portuguese-speaking countries and in the construction of the multilateral Cooperation Platform, the director-general of the Central Government Liaison Office said on Wednesday in Macau.

Italthai Engineering railway port project moves ahead in Mozambique

17 October 2019
The foundation stone for the construction of the housing village for people currently living in the future area of the port of Macuse was laid on Wednesday in Sopinho, Quelimane district, Zambezia province, according to Mozambican press reports.

Macau International Fair and Portuguese-speaking Countries Products and Services Exhibition kicks off on Thursday

16 October 2019
The 24th Macau International Fair (24th MIF) and the Portuguese-speaking Countries (Macau) 2019 (2019PLPEX) Products and Services Exhibition will coordinate and articulate with China's development policies, closely following new international investment trends, said the president of the Macau Trade and Investment Promotion Institute (IPIM).

Mozambican government to consider proposal to create Chimoio Special Economic Zone soon

16 October 2019
The proposal to create the Chimoio Special Economic Zone (ZEEC), in Manica province, central Mozambique, will soon be submitted to the Council of Ministers, said the national director of industry, Mateus Matusse, quoted by daily newspaper Notícias.
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