Companies affected by the violent demonstrations in Maputo province will be integrated into the Beluluane Industrial Park (PIB) free of charge until December of this year. The initiative, according to an AIM publication quoting Rádio Moçambique, is part of the project entitled "Industry for All", which is the result of a memorandum signed this Wednesday (05)...
Moza Banco's Director of Management Information, Camilo Amarcy, defends the need to take a contextualized look at the challenges faced by entrepreneurs in the country, as a way of ensuring greater assertiveness when drawing up strategies to support national Micro, Small and Medium-sized Enterprises (MSMEs). The positioning...
The European Union is supporting the INCUBOX-II program, an initiative launched last January and which aims to support the creation of 1,080 micro, small and medium-sized enterprises by young entrepreneurs in the provinces of Nampula, Cabo Delgado and Niassa. The information was provided by the program director of the Development Finance Company (GAPI), Rui Amaral, this...
The Mozambican private sector recovered in February after four consecutive months of contraction, reaching 50.9 points, compared to 47.5 in January, announced the Standard Bank Mozambique PMI Index released today, Wednesday (05). According to the document to which MZNews had access, this improvement in business conditions comes after...
The Nedbank Group strengthened its financial performance in the year ending December 31, 2024, with net income increasing 8% to R16.9 billion, according to figures released yesterday in Maputo by the financial institution. Diluted net earnings per share increased by 11% and return on equity...
The Bank of Mozambique (BdM) and the Mozambican Banking Association (AMB) have reduced the Prime Rate that will apply to credit institutions in March from 23.50% to 18.50, a drop of five percentage points. The information is contained in a document released this Monday (03) by the two institutions and to which...
Mozambique's National Inspectorate of Economic Activities (INAE) recognizes that around 80% of the popular brands of alcoholic drinks circulating in the country are counterfeit and sold at significantly lower prices than the original drinks. This illegal business is fueled by networks of corruption that start at the borders and extend to...
TotalEnergies is suspending all its subcontracts with companies based on the Afungi peninsula in Cabo Delgado province. The companies have already been instructed to cease activities and contracts with thousands of workers. CCS Joint Venture (Chiyoda, McDermont and Saipem), for example, has already been ordered by the French multinational to...
The Chairman of the Board of Directors of Hidroeléctrica de Cahora Bassa (HCB), Tomás Matola, advocates "blocking" energy solutions from neighboring countries in order to ensure that Mozambique becomes an energy hub for the southern region of Africa. According to Tomás Matola, on the demand side, countries in the region, such as South Africa, with...
EuroAtlantic Airways (EAA) announced yesterday that it has terminated its contract with the national airline, Linhas Aéreas de Moçambique (LAM), due to the latter's failure to honor its commitments. To operate flights from Maputo (Mozambique) to Lisbon (Portugal), LAM used EAA's wet-leasing and charter flights. Wet-leasing is the supply of the entire package needed for the flight, including the aircraft and...