Mozambique Stock Exchange reports €3.3 million in profits in 2024
Photo: O País
Mozambique’s National Inspectorate of Economic Activities (INAE) on Tuesday announced that it inspected a total of 4,445 establishments during the first quarter of this year.
Speaking at a Maputo press conference, INAE spokesperson Ali Mussa said that of the over 4,000 establishments inspected, 132 were fined a total of 11.949 million meticais (about 190,000 US dollars).
But he pointed out that most of these fines have not yet been paid. The fines were levied due to a variety of offences committed, including failure to display the prices of the goods on sale, and the sale of expired and counterfeit goods.
INAE temporarily closed five establishments – two of the businesses suspended were in Sofala province, and one each in Maputo city and in Niassa and Manica provinces.
Mussa believed that most business people have been accepting the messages transmitted by the INAE inspectors. This was shown by the reduction in the number of fines, in the number of establishments which INAE ordered suspended, and in the number of expired goods detected.
But Mussa recognised that INAE has not yet been able to end price speculation in the cyclone ravaged city of Beira.
“The situation in Beira is critical”, he admitted, “but nothing is lost and INAE is working to guarantee that the prices are fair”.
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