The formalization of a "Sovereign Wealth Fund" valued at $96 billion in Liquefied Natural Gas (LNG) exploration revenues could be completed by the end of this year, according to Economy and Finance Minister Max Tonela. The authorities are in the process of finalizing the draft legislation that will govern the...
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United States reiterates support for Mozambique in the fight against Malaria
The United States government says it will continue to support Mozambique's efforts to eliminate malaria, where since 2007 it has invested more than $416 million for the purpose. This is expressed in a press release issued by the American Embassy in Maputo on the occasion of World Malaria Day, which was marked yesterday,...
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"Social insertion and training can stop terrorism in Cabo Delgado"
The Institute for Security Studies points to communication with terrorist groups as a possible solution in the fight in Cabo Delgado. The Kuendeleya Association agrees and adds social insertion and youth training. Liesl Louw-Vaudran, a researcher at the Institute for Security Studies (ISS) in South Africa, told DW's report that the...
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Extended deadline for the rehabilitation works on the Marracuene-Macaneta road
The rehabilitation works of the road linking the town of Marracuene district to Macaneta, Maputo province, may be finished by the end of July this year. This is a section that will alleviate the suffering of the citizens who commute or live in the locality of Macaneta, especially during the rainy season. First of all,...
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Consulting firm reveals undervaluation of Correios de Moçambique buildings
The buildings of the Correios de Moçambique company are being sold far below the average market price, i.e. they are undervalued, according to the Center for Public Integrity (CIP). The total of the company's 176 properties across the country is 1.1 billion meticais. The valuation conducted by the consulting firm Intellica,...
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Nyusi appoints new Rector of UEM
The President of the Republic, Filipe Nyusi, appointed the academic Manuel Guilherme Júnior as Rector of the Eduardo Mondlane University (UEM). Guilherme Júnior is a senior staff member at UEM, where, in addition to teaching in the law faculty, he held the position of director of cooperation. He has a PhD level, several books published, and...
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April 25, 2022April 25, 2022Latest, Market Announcements, National
Standard Bank's Economic Briefing scheduled for May
Under the theme "Macroeconomic Update and Outlook", Standard Bank will hold, on May 5, in Maputo, the Economic Briefing. According to the statement of the banking institution, the event aims to provide important insights on the economy to its customers and partners, to guide them in making business decisions. The event will count with the...
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ENH re-hires SocGen to refinance its participation in the Rovuma gas project
The National Hydrocarbons Company (ENH) has turned to Société Générale SA (SocGen) to advise on the refinancing plan for its stake in the offshore natural gas project led by Italy's ENI, the Minister of Economy and Finance said Thursday in Washington D.C. "It is now more attractive for them and less risky to be involved [in the...
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Nyusi congratulates Macron seeking to strengthen Mozambique-France cooperation
The President of the Republic, Filipe Nyusi, today sent a message of congratulation to the French President, Emmanuel Macron, on his re-election, and expressed Mozambique's willingness to strengthen bilateral relations between the two states. "I take this opportunity to once again reiterate my availability and commitment to continue with the bilateral work in...
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Mozambique and Malawi equate gas pipeline linking the two countries
Mozambique and Malawi are considering the possibility of building a gas pipeline linking the Rovuma reserves off Cabo Delgado to Malawi, the two countries said in a joint statement. "The delegations of the two countries agreed to analyze the possibility of the construction of a gas pipeline from Rovuma to Malawi for the import...