Ematum can be profitable – Mário Dimene, former director of Navique – Mozambique

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Ematum can be profitable – Mário Dimene, former director of Navique – Mozambique

9:04 CAT | 01 Nov 2016

Folha de Maputo (File photo)

The Mozambican Tuna Company (Ematum) has everything needed to create jobs and profits, and, in half a dozen years, pay off the US$800 million borrowed to acquire its fleet of 27 vessels.

Such is the opinion of former fleet director of the now-defunct Navique Mário Dimene, who says that the boats should be able to catch more than just tuna.

“Ematum can be profitable” Dimene said, quoted by weekly Domingo.

The phrase sounds strange, contrasting as it does with the criticism levelled by some sectors of society on account of the undisclosed debts Ematum contracted.

Dimene addresses that controversy, and focuses attention on what should be done next, “because we can not give them [the debts] back or throw them away. We need a way out. According to the calculations I have done in consultation with fishing industry operators, I believe that the company [Ematum] can be profitable and pay back the US$800 million debt in a handful of years”.

According to the Domingo “at first glance, this position seems loaded with simplistic and exaggerated optimism, but it comes from an authoritative voice who, in the 80s, directed the Navique coastal shipping fleet of 24 vessels, one of the largest in Africa”.

Source: Folha de Maputo