Mozambique: Reference credit interest rate unchanged in February after four cuts
in file CoM
More than half of the approximately 9,500 companies registered with the National Institute of Social Security (INSS) in Sofala do not channel their workers’ contributions to the institution.
In total, the companies in question owe the INSS more than 76 million meticais (around US$1.1 million at current exchange rates).
The INSS delegate in Sofala, Jaime Chicamisse, said that the debt continues to grow, which could cause problems for workers and their families.
Chicamisse was speaking during a seminar to coordinate with the justice administration bodies on the institution’s debt collection process.
The head of the INSS Legal Department, Sónia da Silva, said that the process of collecting contributions was ongoing, as many companies failed to channel contributions after settling their debts.
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