Mozambique: Post-election crisis reduced demand in all business sectors - CTA Economic Briefing
Mozambican SMEs made US$549.2 million from deals with extractive sector
3:41 CAT | 26 Jun 2019
in file CoM
A total of 365 Mozambican small and medium-sized enterprises (SMEs) achieved a turnover of US$459.2 million from the provision of services to extractive industry multinationals in 2018.
The number of service providers represents a growth of 68% over the 2017 total, while the contracts resulted in a turnover of about US$ 549.2 million in 2018, against US$97 million in 2017, an increase of about 466%, the State General Account indicates.
In the period under analysis, Sasol, Mozal, Menas Sands, Jindal Africa and ICVL Benga made profits totalling US$282.52 million. By contrast, Minas de Revúboe, Vale Moçambique, MidWest Africa and Ncondezi recorded losses of US$1,089,72 million.
Overall, companies in the extractive industry lost about US$807.2 million, the 2018 State General Account consulted by ‘O País’ reveals.
As regards their contribution to state revenues, the sector paid about US$175.7 million in 2018, equivalent to 5% of the total revenue collected, but 3.7% less than the previous year.
In 2018, extractive industry enterprises employed 6,280 workers, compared with 6,268 workers in 2017, an increase of 0.2%. Of the total workers in 2018, about 5,804 were nationals and 476 foreigners.
The mining sector employed most workers – 4,971 all told, or 79.2% of the total.
By Edson Arante
Source: O País
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