The Public Prosecutor's Office (MP) has announced the seizure of a hotel establishment in the northern city of Nampula, in an operation to combat money laundering that has taken place over the last five years. According to a report by Televisão de Moçambique (TVM), the Attorney General's Office (PGR), through the operation called "Stop...
The Turkish company Karpowership is interested in investing one billion US dollars in the installation and operation of a floating thermoelectric power plant based on natural gas in Mozambique. The information was announced a few days ago in Maputo by Karpowership's commercial director, Zeynep Harezi, during the docking of the ship at the Port of Maputo. Zeynep Harezi...
The public company Electricidade de Moçambique (EDM) revealed on Tuesday (13) that it is investing 300 million dollars, equivalent to 18.9 billion meticais, to implement the second phase of the Universal Electrification Program. According to EDM, the project covers the period 2024-2027. Speaking in an interview with Rádio Moçambique,...
The conditions are now in place for the production of LPG (cooking gas) by the South African multinational, Sasol, to begin on schedule. The information was provided by Sasol's vice-president for operations and maintenance in Mozambique, Francisco Augusto, quoted by Rádio Moçambique. According to the source, from next year,...
Access Bank Mozambique was once again distinguished by the International Finance Awards in the category of "Most Innovative Corporate Social Responsibility Initiative 2024". This recognition highlights the Bank's role in promoting social responsibility initiatives, through its innovative and impactful approach. International Finance, a globally renowned business and finance magazine, recognized the...
The Financial Results of Hidroeléctrica de Cahora Bassa, SA (HCB) amounted to 1,504.66 million Meticais in the first half of 2024, representing a positive variation of 1,837.3% compared to the same period in 2023. According to HCB's operating and financial performance report, this result derives from income from...
The port of Nacala, located in the province of Nampula, expects to continue registering record levels, with the prospect of handling a total of 3.5 million tons of diverse cargo by December of this year. According to the director of the port of Nacala, Nelmo Induna, the infrastructure is constantly being developed in order to meet the increasingly...
Nedbank Moçambique achieved net profits of 430 million Meticais, an increase of 7% on the previous year (402 million), despite the difficult macroeconomic context. In a statement, the financial institution also highlighted the growth in the deposit portfolio by 7.04%, the improvement in the return on equity (ROE) to 15.92% and a ratio...
The Municipality of Nampula intends to take out a bank loan of 50 million meticais to guarantee the payment of salaries to municipal employees. The measure comes after six months of governance by the new mayor, Luís Giquira. According to the finance councillor of the Nampula municipality, Pereira da Fonseca Napuana, quoted by the newspaper "O País", half...
In the first half of this year, Moza Banco recorded a profit of 11.2 million meticais, recovering from losses of 55.5 million meticais recorded in the same period in 2023. The figures are contained in Moza Banco's Interim Financial Statements for the first half of the year, to which MZNews had access. Until June 30...