Mozambique – Page 5

Mozambique’s economy recovering, says the central bank’s governor

20 September 2018

Mozambique's economy is recovering and major economic indicators show signs of a return to normality after a troubled period between 2014 and 2016, the governor of the central bank said in Maputo.

Cahora Bassa hydroelectric plant in Mozambique invests €500 million in 10 years

18 September 2018

The Cahora Bassa Hydroelectric Plant (HCB) has a 10-year investment plan in the amount of 500 million euros, Vital Capex, to recover and modernise the company's electricity production system, said the company's chairman.

Corumana Dam in Mozambique doubles its reservoir by the end of 2019

18 September 2018

The storage capacity of the Corumana dam in Mozambique's Maputo province will increase from 720 million to 1.24 billion cubic metres by December 2019 with the installation of floodgates, said the Mozambican Minister of Public Works, Housing and Water Resources.

Mozambican contractors abandon more than 800 public works

18 September 2018

More than 800 public works have been abandoned by contractors in Mozambique and several public managers will be made criminally and disciplinarily responsible for the situation, said the Minister of State Administration and the Public Administration.

Car assembly plant in Mozambique goes into bankruptcy and leaves only debt

18 September 2018

The Matchedje car-assembly project in Mozambique, inaugurated in 2014 by the former President of the Republic, Armando Guebuza, has gone bankrupt leaving the state only with debts, said the Minister of Industry and Trade.

23rd Macau International Fair runs from 18 to 20 October 2018

14 September 2018

The 23rd Macau International Fair (23rd MIF) will be held from 18 to 20 October, this year presenting Mozambique as partner country and Fujian as partner province, the Macau Trade and Investment Promotion Institute (IPIM) said.

Creditors and government of Mozambique may reach an agreement this year

14 September 2018

Negotiations between the Mozambican government and the bondholders of Mozambican tuna company Ematum may be concluded later this year, the Economy and Finance minister said on Thursday in Maputo.

Two new cashew processing units open in Mozambique

14 September 2018

Mozambique will have 17 cashew processing plants with the start-up of two new units, according to the director of the Cashew Development Institute.

Syrah Resources raises more capital for project in Mozambique

13 September 2018

Syrah Resources will issue common shares reserved for shareholders to raise capital for a graphite project in Cabo Delgado, Mozambique, the company said in a statement.

Mozambique and oil companies sign exploration contracts by October

13 September 2018

The Mozambican government and the consortia that were selected in the fifth oil prospecting tender are due to sign their contracts by the first week of October, said the president of the country's National Oil Institute.

India is the main destination of Mozambique’s exports in 2017

12 September 2018

India was the main destination for Mozambique's exports in 2017, with almost double the value of the country ranked second, South Africa, according to a yearbook published by the National Statistics Institute.

Mozambican budget for 2019 includes a deficit of US$ 1.314 billion

12 September 2018

The Mozambican State Budget for 2019 includes a deficit of 80 billion meticals (US$1.314 billion), according to a bill approved on Tuesday in Maputo by the Council of Ministers.

Angola closes embassy to the Community of Portuguese Speaking Countries

11 September 2018

The Angolan embassy to the Community of Portuguese Speaking Countries (CPLP) in Lisbon is one of eight diplomatic representations that the country plans to close by next November, the Angolan foreign minister said on Monday in Luanda.

Construction of floating platform for natural gas project in Mozambique begins

7 September 2018

Construction of floating platform that will process natural gas to be extracted in Area 4 of the Rovuma basin, northern Mozambique, began on Thursday with the cutting of the first steel plate, Italian group ENI said.

US company assesses the feasibility of solar power plant in Mozambique

7 September 2018

US company HDR International has been selected to conduct an economic feasibility study for the construction of a solar energy project in Mozambique, the specialty press reported.

Mozambique’s risk rating reflects losses incurred by creditors

7 September 2018

Mozambique's sovereign debt risk rating ("Caa3") reflects Moody's expectations that private lenders will suffer heavy losses as the country has gone into default, the credit rating agency said in a note to investors.

Companies from Portuguese-speaking countries participate in a forum on traditional Chinese medicine

6 September 2018

Business leaders from Portuguese-speaking countries are among the 400 professionals participating in the 2018 Traditional Medicine International Cooperation Forum (Macau) on 20 and 21 September, the event's organisers said.

Mozambique’s participation in FOCAC was positive, says President Filipe Nyusi

5 September 2018

Mozambique's participation in the third summit meeting of the Forum on China-Africa Cooperation (FOCAC) was "very positive," Mozambican President Filipe Nyusi said on Tuesday in Beijing, according to Mozambican news agency AIM.

Vale Moçambique sells 600 tons of coal per year to Cimentos de Maiaia

5 September 2018

Mozambican company Cimentos de Maiaia will buy 600 tons of thermal coal per year from Vale Moçambique, a subsidiary of Brazilian group Vale that mines coal deposits in Moatize, Tete province, the company's chief executive said.

Syrah Resources issues shares to finance graphite project in Mozambique

5 September 2018

Australia's Syrah Resources will issue shares worth 94 million Australian dollars (US$68 million) to develop a graphite deposit exploration project in Mozambique's Cabo Delgado province, the company said in a market filing on Tuesday.

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