Mozambique Ports and Railways increased revenue in 2017

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Mozambique Ports and Railways increased revenue in 2017

1:06 CAT | 07 Dec 2017

File photo

Revenue at the Mozambican ports and railways company, CFM, increased 11 percent this year compared to 2016, when the company’s operating result was just over 3 billion meticais. Accordingly, the operating results at CFM will reach 3.5 billion meticais by the end of 2017.

The figures were revealed yesterday by the chairman of the Board of Directors of the company, Miguel Matabel, speaking in Maputo on the occasion of the opening of the budget appreciation and approval Meeting of for fiscal year 2018.

Matabel said he expected the company’s financial and global results to grow at the same level.

“These promising results only encourage us to move forward and never settle for less,” he said.

Image result for matabel cfm — Miguel Matabel, CFM chairman

The manager of the largest national railway company also said that the warnings issued by both the Bank of Mozambique and the Ministry of Economy and Finance on the difficulties that the country may face next year were proof of the need to redouble attention to the management of the company.

“Our company will not be an island within this country, to the point of not feeling the shock. That is why I would like to reiterate the need for strict budgetary discipline, so that we can ‘ armour our house’ effectively and achieve what was planned for each of the sectors,” Malabel said.

The CFM Budget Appreciation and Approval Meeting is held annually, convening senior CFM executives from all over the country.

Matabel said that, previously, the budget had been limited to costs related only to expenses. “Today it is a tool that also assists in decision making,” he explained.

In order to achieve targets, he added, it would be important for all those involved to prioritise the most efficient use of the resources allocated for the implementation of the proposed projects, and avoid diversions that could lead to disorderly expenditure outside without established criteria.

He further noted that it was acceptable for some variation to occur, which would not cause alarms if within certain parameters. But others may be a cause for concern, especially when there was no sensitivity and concern on the part of the proponent for a proactive management policy based on the choice of some actions rather than others.

Recognising that approval of the budget for next year could not be seen as the end of the matter, Matabel appealed to the company’s managers to use ingenuity and art to circumvent such adverse situations as might arise.

Matabel added that the Ressano Garcia and Sena lines alone had handled about six million tons of cargo this year, and, in the coming year, the company intended to improve and increase the capacity of lines considered strategic, among them Ressano Garcia and Machipanda.

Source: Notícias / Rádio Moçambique