Freight logistics company Grindrod has cut its dividend by 55% due to the closure of the Lebombo - on the South African side - Ressano Garcia - on the Mozambican side - border during the period of the post-election demonstrations in Mozambique in the last quarter of 2024. After reporting that last year its profits...
Mozambique Airlines (LAM) announced the resumption yesterday (11) of flights to the northern region, on the Maputo-Pemba-Maputo route, with an extension to Dar es Salaam, in Tanzania, taking into account the improvement in the weather, which had led to the cancellation of the connection on this route. In a statement, the company said it had also...
The mobile phone operator Moçambique Telecom (Tmcel) denounced this Friday (07) the occurrence of acts of vandalization of infrastructure in various parts of the city of Maputo, leaving several customers without access to telecommunications services, including voice and data. According to Tmcel, this involves the destruction of "cabinets located on the sidewalks" containing essential equipment for...
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 American multinational ExxonMobil said yesterday in Maputo that it will contract 70% from Mozambican companies to supply goods and services for the Rovuma LNG project to explore natural gas in Area 4 of the Rovuma Basin, in Cabo Delgado province. Meeting with Mozambican and foreign suppliers, the Director of Public and Government Relations at...
Entrepreneurs are reluctant to sign up to the line of financing recently made available by commercial banks for economic recovery, following the impact on the economic fabric of the post-election demonstrations. The commercial banks on the national market have launched a financial incentive of 10 billion for companies so that they can get back on their feet. But there are conditions...
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...
The government and the Mozambican Banking Association (AMB) today announced financial measures for economic recovery, in response to the post-election crisis that has shaken companies' cash flow. The banks are making 10 billion meticais available to companies at subsidized rates. Affected companies will also be able to restructure their bank loans. In other words, they can negotiate new terms...
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...
ExxonMobil Moçambique, Limitada, as the Delegated Midstream Operator for Area 4 of the Rovuma Basin Project, signed a Memorandum of Understanding (MoU) with Field Ready this Wednesday (26), in a joint and dedicated effort to increase employment opportunities for Mozambicans in the Oil & Gas sector. The ceremony...