Hunger threatens close to 29 thousand families in the district of Búzi, in Sofala and food assistance is already being considered for those affected. The situation is the result of floods and plagues that devastated extensive areas of cultivation, in the last agricultural campaign, according to the administrator of Búzi, João Saize. "Unfortunately we had the phenomenon of floods, that came to annul...
Post
Nampula Municipality announces more than 120 million in road rehabilitation
The Nampula Municipality expects to invest more than 120 million meticals in the paving of roads that give access to the neighborhoods, acquisition of equipment and other initiatives. The amount, as Notícias reports, comes from various sources, including own revenues, Road Fund, Municipal Investment Fund and partners. All the projects...
Post
Court authorizes toll collection on Maputo Ring Road
The Administrative Court revoked on Monday the injunction filed by the Centre for Democracy and Development (CDD), an NGO contesting the payment of tolls along the Maputo Ring Road. The revocation was announced on Monday evening by the Ministry of Public Works, Housing and Water Resources, through a statement from...
Post
"It is premature to advance whether or not tropical cyclone Batsirai will hit Mozambican coast" -INAM
The National Institute of Meteorology (INAM) warned this Sunday that the weather system, called "BATSIRAI", which formed along the southwest Indian Ocean basin, has evolved from Tropical Storm to Tropical Cyclone. Starting this Wednesday, February 2, the phenomenon is expected to hit the coast of Mauritius, moving to the...
Post
Interest rates are maintained for the fifth consecutive month
The Mozambican Association of Banks (AMB) announced this Monday that the prime rate will remain at 18.61 PT2T in February, i.e. for the fifth consecutive month. A decrease of 30 basis points led to the fixing of the prime rate at 18.61 PT2T on October 1, 2021 in relation to the previous month of the...
Post
Mozambican economy grows 2.2% in 2021 - Standard Bank
Standard Bank has published a report revealing that the Gross Domestic Product (GDP) will slightly exceed $15.6 billion in 2021. The figure represents a growth of 2.2% compared to the previous year when the record was $15 billion. The forecasts of what is considered one of the three best...
Post
MRM raises USD 643 million from gemstone sales
The mining company Montepuez Ruby Mining (MRM) has raised $643 million from the sale of gemstones mined in Cabo Delgado province, namely rubies, sapphires, emeralds. The amount obtained represents 94% of documented national income from the production of those stones, according to a company statement. The document quoted by Pais Economico mentions that...
Post
Mozambique among the largest exporters of natural gas in the world. Just for the future
Mozambique's high potential in Liquefied Natural Gas (LNG) could make it the world's fifth largest exporter by mid-century, according to the GECF's Global Gas Outlook 2050. And with that in mind, as well as the start of LNG production in the middle of this year, the Executive aims to integrate the country...
Post
IPEM will finance 500 businessmen victims of terrorism in Cabo Delgado
The government through the Institute for Promotion of Small and Medium Enterprises (IPEM) of the Ministry of Industry and Trade, has made available funds to lend, at low interest rates, at least 500 traders to build their economies, the launch of which took place last week in the city of Pemba. The director of the Service...
Post
Mozambican banks' assets increase by 17% - KPMG
The consulting and auditing firm KPMG has revealed that total assets for the Mozambican banking sector increased by 17%, corresponding to a financial increase of 112 billion meticais, during 2020 activities. In 2020 the banks absorbed 758.2 billion meticais and in the previous year, until December 31,...