CTA criticises Bank of Mozambique for rising reserve requirement ratio in foreign currency
File photo: O País
The company Cimentos de Moçambique has been recording large losses in its production units in the country, O País reports, the firm’s board of directors blaming low demand.
Mozambique’s cement industry has been operating below its capacity of 4.7 million tons per year for many years, with only half of productive capacity currently operational.
The scenario only worsens the company’s financial losses, says Edney, director general of Cimentos de Moçambique, and it has had to close its US$25-million Matola production unit.
Despite the unfavourable circumstances, Viera nevertheless foresees improvements in economic indicators that may favour the industry.
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