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PayTech, Mozambique's first listed fintech

The Mozambican fintech, PayTech, SA, which specializes in developing web and mobile solutions for digital payments, was the first to be admitted to the Mozambique Stock Exchange (BVM), on October 18, 2021. According to BVM, one hundred thousand ordinary, nominative and book-entry shares, with a unit par value of...

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Cement is 50 meticais more expensive

The price of construction cement is 50 meticais more expensive in the cities of Maputo and Matola after a slight price decrease in May this year, caused by the entry into operation of the Dugongo Mozambique factory. The price of cement has been rising since the last fortnight of October, and...

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Mozambique raises USD 500M with reserve relief

The Governor of the Bank of Mozambique (BM), Rogério Zandamela, said on Wednesday that the relief of reserves of national financial institutions have allowed the financial system to receive US$500 million. According to Zandamela, who was speaking at the opening of the WB Coordinating Council in Nampula, the amount will boost economic recovery efforts, in a...

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Inflation stands at 6% in the third quarter, according to the WB

The Governor of the Bank of Mozambique (BM), Rogério Zandamela, said that annual inflation stood at 6% in September this year, and that the metical appreciated by 15.0% against the dollar during the three quarters of 2021. Zandamela said that the results of the national economy's performance were conditioned by internal factors and...