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Mozambiquehub

Anadarko announces investment plan for natural gas exploration in Mozambique

17 June 2019
US oil company Anadarko is due on Tuesday to formally announce its investment plan for exploration of natural gas in Mozambique.

Mozambique to build new Locumue dam in Niassa province

17 June 2019
The Mozambican Minister of Public Works, Housing and Water Resources, João Machatine, laid the foundation stone for the construction of the new Locumue dam in Niassa province in northern Mozambique.

Bank of Mozambique removes Gapi directors

17 June 2019
The Gapi Investment Company has no executive directors, after the Bank of Mozambique (BdM), on 4 June cancelled the special registration of the executive directors of the institution, António Souto and Anabela Mucavele, Mozambican news agency AIM reported.

Trade between China and Portuguese-speaking countries reaches US$46.254 billion from January to April

14 June 2019
Trade between China and the Portuguese-speaking countries increased 11.99% in the period from January to April 2019 to US$46.254 billion, according to official Chinese figures released by Forum Macau.

Mozambique expects a significant increase in cashew production within five years

13 June 2019
Mozambique plans to return to the cashew nut production levels it had in the 1970s over the next five years, said the national director of the National Cashew Institute (INCAJU).

Chinese investors spend US$700 million on building a cement factory in Mozambique

13 June 2019
Chinese investors will spend US$700 million to build a cement plant with a nominal capacity of 500,000 tonnes in Mozambique, with work expected to start in 2021, daily newspaper Correio da Manhã reported.

Schengen Agreement limits mobility in the Community of Portuguese Speaking Countries

13 June 2019
The future mobility scheme in the Community of Portuguese-Speaking Countries (CPLP) will be limited by short-stay visas because of the European Schengen agreement, which only exempts Brazil and Timor-Leste, said the Portuguese Minister of Foreign Affairs.

Cabo Verde’s PM expects mobility of people within the CPLP to be implemented this year

12 June 2019
The problem of mobility within the Community of Portuguese Speaking Countries (CPLP) could be solved later this year during Cabo Verde's presidency, said the Cape Verdean prime minister on Tuesday.

Mozambique’s economic growth outlook in 2019 is “not very encouraging”

11 June 2019
The outlook for economic growth in Mozambique in 2019 is "not very encouraging," said the president of the National Statistics Institute, noting that a slowdown in the country's gross domestic product (GDP) was observed between 2015 and 2018.

Italian group ENI plans to hire security services for Mozambique

11 June 2019
Italian group ENI intends to hire armed security services to protect the company and its workers in Mozambique, according to an announcement published in the local press.

CCS joint-venture signs contract for natural gas project in Mozambique

6 June 2019
CCS, a joint-venture between the McDermott, Saipem and Chiyoda groups, has signed a contract with the Anadarko Petroleum Corporation group to provide services in the Area 1 natural gas project in northern Mozambique, the McDermott group said.

State guarantee of Mozambican tuna company declared unconstitutional

5 June 2019
The State guarantee granted to the debt taken on by the Mozambican Tuna Company (Ematum) was declared unconstitutional by Mozambique's Constitutional Council, according to an official statement released on Tuesday in Maputo.

Public opinion affects the method of payment of the debt of Mozambican tuna company Ematum

4 June 2019
The decision to decouple Mozambique's future revenues from the exploration of natural gas from the payment of external debts is due to its difficulty in being accepted by public opinion, said the Minister of Economy and Finance.

Mozambique has 10% of its currency reserves applied in Chinese currency

3 June 2019
The growing internationalisation of China's currency strengthens Mozambique's interest in making investments in yuan, said the governor of the Mozambican central bank at the 10th International Forum on Investment and Infrastructure Construction.

Macau can support the financial sector of Portuguese-speaking countries in the Greater Bay

3 June 2019
Macau can use its language, culture and network to support Portuguese-speaking countries to take advantage of the development opportunities of the Greater Bay and the Chinese market, particularly in terms of providing financial services, said the Secretary for Economy and Finance of Macau.

Mozambique stops using natural gas revenues to pay down Eurobonds

3 June 2019
Mozambique's revenues from natural gas exploration will no longer be used to pay the Eurobond loan contracted by Empresa Moçambicana de Atum under a new restructuring agreement, according to the Ministry of Economy and Finance.

Loans from China to Portuguese-speaking countries processed in Macau

31 May 2019
A loan worth more than 10 billion yuan (US$1.45 billion) granted by China to a Portuguese-speaking country was processed in Macau in 2018, the Secretary for Economy and Finance said on Thursday.

ENI Group expands presence in oil exploration in Mozambique

30 May 2019
Italian group ENI has expanded its presence in Mozambique with the acquisition of three 10% shares in three oil exploration licenses, according to a statement released on Wednesday in Milan.

Fitch Ratings keeps Mozambique’s risk rating at “restricted default”

29 May 2019
Fitch Ratings has kept Mozambique's long-term foreign currency risk rating at "RD" or "restricted default," which was first given in November 2016, the agency said in a statement.

Cabo Verde calls for the creation of development bank of the Community of Portuguese Speaking Countries

27 May 2019
The proposal to create a development bank for the Community of Portuguese Speaking Countries (CPLP) may be discussed by the organisation's member states in July, the Cape Verdean deputy prime minister said on Saturday in Lisbon.
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