“State stimulus to companies cannot be administrative only, must be financial as well” – ACIS

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“State stimulus to companies cannot be administrative only, must be financial as well” – ACIS

4:39 CAT | 09 Jul 2020

Photo: O País

The Association of Industry, Commerce and Services argues that state stimulus for companies cannot be administrative only, it must be financial as well An ACIS survey of the impact of Covid-19 found that the business sector had lost a labour and revenue because of the new coronavirus.

The Mozambican economy has been stifled by the new coronavirus pandemic for three consecutive months, with companies feeling the effects most acutely.

In the third consecutive extension of the state of emergency, President Filipe Nyusi had lifted some restrictions to prevent the economy from collapsing, but, for the ACIS, there must be stimulus as much as relaxation, President of the ACIS Management Council Luís Magaço Jr explains.

The May-June ACIS survey found that a large portion of Mozambique’s companies are losing their workforce as well as profits because of the new coronavirus.

In the Ministry of Industry and Trade’s view, the negative impacts of Covid-19 are of external as well as internal origin, countries with commercial relations with Mozambique being also severely affected.

Nevertheless, stakeholders agree that the pandemic is an opportunity for companies to invest more in information and communication technologies.

By Dário Cossa

Source: O País