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The Mozambican Investor

Issue: 1153rd
By Adrian Frey

Date: 19 June, 2018 Email us: themozambicaninvestor@clubofmozambique.com

‘Pacta sunt servanda’: Mega-project contracts in Mozambique “must be scrupulously fulfilled” – director of APIEX

The director general of the Agency for the Promotion of Investment and Exports (APIEX) told tax collectors on Monday that: "With regard to granting of tax benefits and the possibility of them being reduced, my opinion is very clear: that this is an untimely debate at this moment and it can even be argued as one devoid of any logic whatsoever." Officials from the Tax Authority (TA), which is responsible for collecting revenues to meet the ...

Mozambique cuts key rate as inflation lingers near 2015 low – Bloomberg

Mozambique’s central bank reduced its benchmark lending rate for the sixth consecutive meeting as inflation lingered near a 2015 low and the regulator tries to spur an economy that’s forecast to expand at the slowest pace in 18 years. The Monetary Policy Committee cut the benchmark interbank rate, known by its Portuguese acronym MIMO and introduced in April 2017, by 75 basis points to 15.75 percent, Banco de Mocambique Governor Rogerio ...

Cabo Delgado business owners concerned about benefits of gas mega-projects at Rovuma

The announcement of investments and forecast of the start of Rovuma Basin natural gas production in 2023 is leaving Cabo Delgado business owners worried, because, they say, so far they do not know how they could benefit, and therefore how to prepare. Businessman Assif Osman says there is a lack of communication about when and how things will happen and how the participation of local business is being assured. Osman said that local business ...

Mozambique Metical strengthens

The Mozambican currency appreciated against the Euro and the US dollar the last week, according to the central bank's daily average exchange rates. On average, the Euro was bought for 68.99 meticais, metical 42 cents less than in the previous week. Sale was made at 70.35 meticais, 41 metical cents less. The daily average purchase price of the Euro ranged between 68.06 and 69.44 meticais, while the asking price ranged between 69.41 and ...

Aquaculture generates jobs in Mozambique

A Small-Scale Aquaculture Promotion Project implemented in Sofala and Manica provinces could provide a scalable basis for the sector's development, with beneficiaries citing both financial and nutritional benefits. The Mozambican government, through the International Fund for Agricultural Development (IFAD), is investing US$3.4 million to boost fish farming. The initiative, which was launched in 2014 and ends in November this year, is ...

Mozambique: Government seeks support for rehabilitation of Inchope-Caia EN1

The government has already identified potential partners to finance the rehabilitation of the Inchope-Caia section of National Road Number One (EN1), which is in an advanced state of disrepair. According to the director of the National Road Administration (ANE), Marco Vaz, the work is expected to cost about US$250 million. "We are working with partners who have already shown an interest in rehabilitating that stretch. Rehabilitation will ...

President Nyusi working in Namarroi today

President of the Republic Filipe Nyusi is in the district of Namarroi today for a rally and a meeting with young people. The population of the Namarroi district, north of Zambezia province, is likely to ask for the rehabilitation of the 80 km stretch of road linking Namarroi to Gurué, which is in an advanced state of degradation following the destruction of bridges by rains in 2015. Local residents told Radio Mozambique said that, to ...

Mozambique: Terrorists burn down 44 houses – AIM report

The terrorist group, known locally as “Al Shabaab”, last Thursday attacked the village of Ibu, in Macomia district, in the northern Mozambican province of Cabo Delgado, where they burnt down 44 houses, according to a report in Monday’s issue of the independent newssheet “Mediafax”. The houses destroyed were all traditional huts, covered with thatch. The attackers also stole food from some informal stalls. But there were no ...

Local officials unable to answer Nyusi’s questions

The incompetence of several local officials in the southern Mozambican province of Inhambane was exposed on Saturday, when they proved unable to answer simple questions about their work asked by President Filipe Nyusi. On the third day of a working visit to Inhambane, Nyusi met with district directors and locality heads in Homoine district, and attempted to confirm figures given to him in a neatly printed report. The officials’ inability ...

Frelimo pledges to take back municipalities under opposition control, no ‘heads of list’ announced

Frelimo says it is working to recapture municipalities under opposition management, Radio Mozambique reports. So said Frelimo representative Verónica Macamo in Maputo this Monday on the sidelines of the party's registration in the electoral race. The National Elections Commission has appealed to political parties to register early in order to prevent them from being excluded from the race for irregularities, but Macamo said that Frelimo ...

Mozambique bemoans malaria-related deaths

Mozambique’s Ministry of Health (MISAU) has expressed dismay over the rising trend of malaria related deaths in Maputo, which rose to 25 in the first quarter of this year. The death toll is up from 17 when compared to the same period last year. The Health Director of the city of Maputo, Alice de Abreu, explained that the increase in the number of deaths occurs despite the decrease in reported cases of malaria which fell to 11,227 this year ...

Record 68.5 million people displaced worldwide: UN

 

A record 68.5 million people have been forced flee their homes due to war, violence and persecution, notably in places like Myanmar and Syria, the UN said on Tuesday. By the end of 2017, the number was nearly three million higher than the previous year and showed a 50-percent increase from the 42.7 million uprooted from their homes a decade ago, according to a report by the UN refugee agency. The current figure is equivalent to the entire ...

Record 68.5 million people displaced worldwide: UN

 

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