Mozambique Ports and Railways’s profits drop 13% in 2024

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Mozambique Ports and Railways’s profits drop 13% in 2024

4:32 CAT | 03 Jun 2025

File photo: Folha de Maputo

The profits of the state-owned Ports and Railways of Mozambique company (CFM) fell 13% in 2024, to 2,579 million meticais (€35.4 million), as a result of the post-election protests, according to the company’s report and accounts.

The document, to which Lusa had access this Tuesday (03-06), states that it was decided to deliver 42% of these net results to the state as dividends (1,083 million meticais – €14.8 million), against 35% of the 2023 profits (1,042 million meticais – €14.3 million), with the remainder (1,083 million meticais – €14.8 million), being invested in reserves.

CFM management in the report calla the 2024 financial year “positive, although not satisfactory”, due to the bad weather in the first half of the year, with impacts mainly in the south of the country, as well as the 101 derailments in the southern and central railway system managed by the company.

“The company’s performance was affected by the post-election protests that have been sweeping the country since last October, which were characterized by blockades of both rail and road routes, thus leading to several stoppages of rail-port operations, including damage to railway infrastructure and equipment, having affected the company in approximately US$17 million [€15 million] in losses,” the document reads.

Despite these “negative factors”, around 27.34 million net tonnes of cargo were transported on the railway system in 2024, against the target of 34.55 million tonnes, still 3% more than in 2023, of which 12.87 million tonnes, against a target of 15.35 million, were on CFM’s direct management rail lines, a 4% increase year-on-year.

In terms of passengers, “despite the train stoppage” due to the same factors, namely the demonstrations that took place throughout the country, 6,815,251 passengers were transported in the southern and central corridors, above the 6,490,527 of the initial plan, an increase of 3% compared to 2023.

In the port area, activity involving CFM grew by 5%, despite being below the target set for 2024, handling 66.51 million metric tons, against the initial forecast of 70.17 million metric tons.

In the port terminals managed by CFM, around 13.22 million metric tons were handled throughout 2024, an increase of 8% compared to 2023.

The document also notes that the company invested more than 7,612 million meticais (€104 million) in rail and port equipment in 2024.

CFM currently operates the Ressano Garcia, Limpopo and Goba railway lines, the Beira Railway System, which includes the Sena, Machipanda and Marromeu lines, the section common to the three railway lines of the southern network and the Maputo manoeuvring area, the general yards of the south and centre and the Matola Aluminium Terminal.

CFM also operates fuel terminals in all national ports, cereal and coal terminals in the port of Maputo, and it operates the ports of Quelimane (Zambézia province), Nacala (Nampula province) and Pemba (Cabo Delgado province).

Source: Lusa