Maputo: 2,704 new companies & 82.5 mln meticais invested in first half of 2017 – BAU

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Maputo: 2,704 new companies & 82.5 mln meticais invested in first half of 2017 – BAU

12:10 CAT | 18 Aug 2017

Macauhub (File photo) / A view of Maputo city

During the first half of the year, Maputo’s Unified Service Desk licensed 2,704 companies, the 10 industrial, 2,388 normal regime commercial and services enterprises and 306 simplified regime companies representing an investment of 82.5 million meticais – about US$13.5 million at current exchange rates.

Among the industrial enterprises are cashew nut processing, baking, locksmithing, water purification and biscuit manufacture.

According to a press release, Xavier Timana, the Director of the Unified Service Desk (BAU) in Maputo City, said that the number of licensed companies represented an increase of 267 percent over the same period last year, and should generate 5,555 new jobs.

The municipal district of Ka Mpfumo licensed the largest number of companies with 1,675 new entrants, followed by Ka Mubukwana (253), Ka Mavota (189), and Ka Lhamanculo (161), Ka Tembe (4) and Ka Nhaca (1).

Timana said that April and June accounted for the highest number of new licenses, possibly related to positive signs in the economy, currency appreciation and political stability.

The BAU integrated electronic platform now in action streamlines the licensing of companies, reducing the previous waiting time of eight to 10 days to one to four days. In the case of WHAT procedures LUCIA? WHAT?, waiting time has been reduced from 10 to four days.

In the same period, 132 licenses were cancelled, allegedly because of lack of business, rendering 264 workers unemployed, Timana said.

Source: AIM Moçambique