Mozambique – Page 6

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.

Indian group BPCL plans to build terminal to receive natural gas from Mozambique

30 August 2019

Indian state group Bharat Petroleum Corporation Limited (BPCL) is considering building a terminal to receive liquefied natural gas (LNG) at the port of Krishnapatnam in Andhra Pradesh state, the group said in a statement.

Mozambique signs financing agreements for Temane-Maputo power transmission line

29 August 2019

Financing contracts to the value of US$506.7 million for the Temane-Maputo electricity transmission project were signed on Wednesday in Maputo between the government of Mozambique and various foreign institutions, the Mozambican press reported.

Mozambique Tax Administration expects to collect US$12 billion in tax per year from natural gas projects

29 August 2019

The Mozambican Tax Administration (AT) expects to collect US$12 billion a year in tax from natural gas exploration projects in the Rovuma basin in the period from 2037 to 2045, an AT Maputo official said on Wednesday.

Bank of Mozambique bans banker from holding management positions in banking

29 August 2019

The chief executive of Banco Comercial e de Investimentos, Paulo de Sousa, has been barred from holding corporate positions and management functions in credit institutions and financial corporations for three years, the Bank of Mozambique announced on Wednesday.

Mozambique is well-placed to reap rewards from the Belt and Road initiative

28 August 2019

Mozambique's strategic location allows it to reap rewards by importing products from China and exporting goods from neighbouring landlocked countries, a panel from Eduardo Mondlane University said on Monday in Beijing.

Mozambican government invites more Ematum Eurobond holders to accept restructuring proposal

28 August 2019

The Mozambican government has invited more holders of Eurobonds issued by the Mozambican tuna company Ematum to accept the loan restructuring proposal agreed in May with 60% of lenders, according to an official statement.

Xinavane and Mafambisse sugar mills in Mozambique have interested investors

28 August 2019

The Mozambican government has secured alternative investors to South African group Tongaat Hulett to keep the Xinavane sugar unit in Maputo province and the Mafimbisse unit in Sofala operating, the minister of industry and trade said on Tuesday.

Chinese technicians in Mozambique repair the Save river bridge

27 August 2019

China Road and Bridge Construction (CRBC) group technicians will arrive in Mozambique in the next few days to boost construction work on the diversions that will make it possible for work to move ahead to repair the Save river bridge, according to official information.

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