Bank of Mozambique reduces reserve requirement ratio in national currency to 13.0%
File photo: O País
The Northern Development Corridor (CDN) last year carried 510,000 tons of miscellaneous cargo, a 28% increase on the total for 2017. Managers say the business is profitable, and that they will continue to invest.
The ‘Corredor Logístico do Norte’, which operates in the northern region of the country, has as its main mission the transport of goods from the port of Nacala to the interior of Mozambique, including neighbouring countries Malawi and Zambia, and the transport of passengers on the three Nampula-Cuamba, Cuamba-Entre Lagos and Cuamba-Lichinga rail lines.
Figures show that economic performance has been growing.
Freight transport is the most profitable part of the business, while the passenger service is primarily a social benefit with great impact in Nampula and Niassa provinces. Passenger figures rose from 480,000 passengers per year to 530,000 in 2017.
Profitability and sustainability are the two factors that convince shareholders to continue investing in Mozambique.
The Northern Logistics Corridor has Mitsui and Vale among its main shareholders.
By Ricardo MachavaSource: O País