Economic crisis closes 14 companies in Tete this year

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Economic crisis closes 14 companies in Tete this year

6:20 CAT | 18 May 2017

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Fourteen companies closed this year in Tete province due to the economic and financial crisis.

The provincial delegate of the Mozambican Tax Authority in Tete Edson Muthemba has said that 39 companies had closed their doors in the last two years, having found no market for their products.

State revenue collection was however unaffected by the closures, with the interim four months’ goal of 3.2 billion meticais surpassed and 3.4 billion meticais collected.

Coal mining companies are the major tax contributors in Tete.

“We have registering some companies having closed down, but we are managing to bridge the tax gap nonetheless,” Edson said.

Source: Rádio Moçambique