An update to Notice no. 7/GGBM/2003, of January 14, requires financial institutions to report all credit operations to the Central Credit Registry (CRC) within 24 hours of the creation, granting/disbursement or renewal of the limit, constitution of the guarantee or completion of the operation. The revision of the instrument arises from the understanding of...
The Mozambican government believes that the sale of shares in Mozambique Airlines (LAM) to the state business sector was the best way for the government to inject funds into the company. According to the government spokesman, Inocêncio Impissa, who is also the Minister for State Administration and the Civil Service, who was speaking...
The Korea Trade-Investment Promotion Agency (KOTRA), the commercial section of the Embassy of the Republic of Korea responsible for promoting trade and investment between South Korea and Mozambique, is promoting the participation of Mozambican companies in the 2025 KSCI - KOREA CONSUMER GOODS AND SERVICE INNOVATIVE FAIR. This initiative aims to create opportunities...
The Bank of Mozambique (BM) announced this Thursday (06) that it had sanctioned nine credit institutions and financial companies with fines for violating prudential rules, preventing and combating money laundering and terrorist financing, foreign exchange and consumer protection of financial products and services. The sanctions, according to a...
The chairman and chief executive of multinational Total Energies said he expects the US Export-Import Bank (EXIM) to complete the approval of 4.7 billion dollars planned for the financing of its liquefied natural gas (LNG) project in Mozambique in the near future. The information was published by the Reuters news agency, which...
Economist Egas Daniel welcomes the government's decision to sell 91% of the state's shares in Linhas Aéreas de Moçambique (LAM) to companies in the State Enterprise Sector (SEE), but warns that measures should be taken to avoid being affected by the airline's culture of mismanagement. For Daniel, from the...
The government today authorized three companies in the State Business Sector (SEE), namely Hidroeléctrica de Cahora Bassa (HCB), Caminhos de Ferro de Moçambique (CFM) and Empresa Moçambicana de Seguros (EMOSE) to acquire state stakes in the company Linhas Aéreas de Moçambique (LAM). "With the amount raised by the sale of 91% for its stake in...
Bruno Dias has been appointed to the position of Office Managing Partner (OMP) of Ernst & Young (EY) Mozambique, an executive leadership position he will take on from July. Until then, as Deputy Office Managing Partner, Bruno Dias will work on the transition process in close liaison with the still OMP, Paulo Reis, who...
Last Friday (31), Mozambique Airlines (LAM) went ahead with a procedure to try to contract the supply of Embraer ERJ190 and Boeing 737-700 aircraft. According to a publication in Carta de Moçambique, the tender was announced a few days after the return of a Boeing 737-300 cargo plane from Indonesia, which had been unavailable for a year....
People from Nhampfunhine, in the Chongoene district of Gaza, decided this Thursday (30) to stop work on the Chongoene port terminal, in protest at the failure of the company formed by the Chinese company Desheng Port and the state-owned Portos e Caminhos-de-Ferro de Moçambique (CFM), the project leader, to comply with the social responsibility agreement. The...