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The Mozambican Investor

Issue: 1020th
By Adrian Frey

Date: 22 November, 2017 Email us: themozambicaninvestor@clubofmozambique.com

Govt approves regulation on fishing rights and permits – Mozambique

The Mozambican government yesterday approved a regulation on fishing rights, imposing fees and standards for artisanal fishing for commercial purposes. "This law introduces the right of fishing for the first time in the country," Minister of the Sea, Inland Waters and Fisheries Agostinho Mondlane announced at the end of a Mozambican Council of Ministers session in Maputo. The new regulation imposes fees varying according to species, but ...

Battery Minerals raises A$20M to advance its Mozambique graphite projects

David Flanagan’s Battery Minerals has raised A$20 million in a heavily oversubscribed placement to advance its Mozambique graphite projects. Hartleys and Morgans were joint lead managers to a placement of around 325 million shares at 6c per share to raise $19.5 million. The placement will be conducted in two tranches, with the second tranche requiring shareholder approval. Each new share will come of a free option, exercisable at 10c ...

Mozambique Central Bank is said to mull sale of Moza Banco stake – Bloomberg

Mozambique’s central bank, whose pension fund owns 80 percent of Moza Banco SA, is considering the sale of a minority stake after it injects further funds in the failed lender, according to four people familiar with the matter. The sale could follow a rights issue next month in which the pension fund will be the only participant, the people said, asking not to be identified because the plans are private. Moza Banco’s other investors, Novo ...

Portucel to build US$3B pulp mill in Mozambique

Portucel Mozambique will build a new pulp mill in Ile-Namarroi, in Zambézia, Mozambique. According to the announcement, the mill will have a production capacity of 1.5Mt and a biomass power generation plant. The total investment is about USD 3 billion. Portucel will finance 80% of the project, while the remaining 20% are expected to be covered by the International Finance Corporation (IFC) of the World Bank group. Portucel Mozambique is ...

Mozambican Parliament plans EUR 20.9 million budget in 2018

The Mozambican parliament announced yesterday that it will have a budget of around 1.5 billion meticais (EUR 20.9 million) in 2018, increasing its expenditure "significantly", although returning a 400 million meticais deficit. Speaking at the end of a session of the Assembly of the Republic Standing Committee , spokesman Mateus Katupha said that, despite the increase, Mozambican parliamentary accounts for 2018 are in line with the need for ...

Mozambique’s inflation slows to 8.35% y/y in October – Reuters

Mozambique’s annual consumer price inflation slowed to 8.35 percent in October from 10.76 percent in September, the National Institute of Statistics said on Tuesday.

Mozambique delegation in Cuba to forge cultural partnerships

A delegation from the Ministry of Culture and Tourism has been in Cuba since last Saturday on a mission aimed at exchanging experiences and seeking partnerships in the arts and culture field. The delegation, comprising the directorate of the Institute for Socio-Cultural Research (ARPAC), the Fund for Artistic and Cultural Development (FUNDAC) and the National Institute of Visual Audio and Cinema (INAC), is seeking to identify and develop ...

Work on Maputo-Catembe bridge in danger of halting

Construction of the suspension bridge over the Bay of Maputo, linking the centre of the city to the outer district of Katembe, could grind to a halt because the Maputo Municipal Council seems unwilling to remove a couple of hundred stallholders from the Nwankakana informal market who are blocking the northern access road to the bridge. Cited in Tuesday’s issue of the Maputo daily “Noticias”, the chairperson of Maputo-Sul, the public ...

More on Ematum workers on strike – AIM report

Workers of the Mozambique Tuna Company (Ematum) have gone on strike again in protest at the company’s failure to pay their wages. The workers went on strike on Monday. Cited in Tuesday’s issue of the independent newssheet “Mediafax”, the workers said they have not been paid for the past four months, and they have no idea when they will be paid. The workers told reporters they have also discovered that for the past two years Ematum ...

PM stresses the role of insurance in development

Mozambican Prime Minister Carlos Agostinho do Rosario on Monday praised the role of the insurance industry in the country’s development, through the transfer of risks, thus making economic and social activities viable. “Insurance makes it possible to transfer risks from individuals, companies and institutions to the insurance companies”, Rosario said, at a gala dinner celebrating the 25th anniversary of the country’s largest private ...

Opening Gala today: Chef Cesare Chessorti in Maputo for full week of that ‘Extraordinary Italian Taste’

On 21 November, the Italian Ambassador to Maputo, Marco Conticelli, will open the second 'World Week of Italian Cuisine - the Extraordinary Italian Taste' with a gala dinner at the Cardoso Hotel in which Italian dishes will be accompanied by Italian wines. The second World Week of Italian Cuisine, which takes place simultaneously in more than 100 countries, comprises more than 1,500 events celebrating the tradition and innovation that Italian ...

 

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