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Mozambique: Farmac repeats 2023 losses of 26.4 million meticais in 2024
4:50 CAT | 12 Aug 2025
FILE - For illustration purposes only. [File photo: Farmac]
State-owned company Farmácias de Moçambique (Farmac) repeated its losses from the previous year in 2024, totalling approximately 26.4 million meticais (around US$412.8 million, at current exchange rates), according to its annual report, accessed by Lusa today.
According to information from the company, which is wholly owned by the Mozambican State, Farmac operates the retail sale of medicines, vitamin supplements and other health products in the country, with 28 pharmacies and 110 employees countrywide.
Farmac recorded profits of 876,930 meticais (US$13,712) in 2022, according to the Annual Report. This was followed by losses of 26.4 million meticais in 2023, which were repeated in 2024.
The company’s sales fell from 198.5 million meticais (US$3.1 million) in 2023 to 127.7 million meticais (US$1.9 million) last year, while its negative equity capital soared sharply in the space of a year, from 963,000 meticais (US$15,000) in 2023 to 25.5 million meticais (US$398,000).
“In 2024, there was a reduction [in sales] of approximately 71 million meticais (US$1.1 million) compared to 2023, due to stock shortages observed in the first, second, and third quarters,” the document reads.
The company has a share capital of 60 million meticais (US$938,000), fully subscribed by the Mozambican state, and in 2024, purchases “continued to be tied to the distribution capacity” and “stabilized pharmacy sales, despite the weak supply given Farmac’s financial situation”.
Source: Lusa
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