Benchmark interest rate in Mozambique to fall from 23.5% to 22.5% in June
South Africa’s President Cyril Ramaphosa and his Mozambican counterpart Filipe Nyusi have vowed to increase trade and investment between their countries.
The two met in Maputo on Saturday as part of Ramaphosa’s tour of some South African Development Community (SADC) countries.
Both countries enjoy cordial economic and political relations with a two-way trade of almost 44 billion skewed in favour of South Africa.
President Ramaphosa says they need to use the South African-Mozambique Bi-National Commission (BNC) as a tool to unlock the political and economic potential of the two countries.
Mozambique’s Filipe Nyusi says the South Africa Mozambique Bi-National Commission will boost economic co-operation between the two countries.
President Ramaphosa begins working visit to Mozambique. pic.twitter.com/cuYjbKQmxM
— PresidencyZA (@PresidencyZA) March 17, 2018
The BNC is an annual meeting co-chaired by the presidents of the two countries.
The meeting is meant to oversee and ensure the implementation of all signed agreements between the two countries.
No kind words from IMF - Hanlon