Mozambique Dugongo Cimentos, a company owned by the business arm of Frelimo, the ruling party, said on Monday it will pay the 20.5 million meticals penalty imposed in August for anti-competitive practices. The fine was decreed by the Competition Regulatory Authority on the grounds that Dugongo did not answer questions from the regulator...
The Port of Maputo recently launched at FACIM a program called Portfólio, an initiative to support and value the local supplier through which Mozambican micro, small and medium enterprises and individuals can have access to opportunities to supply products and services to the Port of Maputo, create partnerships and networking.
Absa Bank Mozambique will make available a special credit line for Mozambican doctors, where they will be able to access a personalized service, says a press release sent to MZNews. The document states that the beneficiaries will be able to consult, whenever they wish, their Relationship Managers, and also receive their Debit and Credit Cards at home...
Hidroeléctrica de Cahora - Bassa, (HCB) in Tete, will begin additional discharges on October 1, increasing from 1600 to 3600 cubic metres per second, according to an official source from the company. Rosaque Guale, director of Water Resources and Environment at HCB, said cited by RM that with the discharges, the intention is to ensure the control of water resources...
An investigation by the Competition Authority (PCA) into Google for abuse of a dominant position has moved to the European Commission, after the latter broadened the scope of its own investigation into the company, according to a statement. "Following a complaint, after questioning the main economic agents present in these markets and a previous analysis of the...
The Portuguese Air Carrier (TAP) and the Civil Aviation Pilots Union (SPAC) have reached an agreement, which will reduce the financial impact on the company, within the scope of the lawsuit filed by the structure over a subsidy and supplementary aid. "ATAP and the SPAC have reached an agreement as part of the lawsuit brought by the SPAC...
The announcement was made a few days ago by SL Capitais in the context of an event promoted under the slogan "Enhancing the Capital Market in Mozambique. The president of the Mozambican Stock Exchange, Salim Valá, praised the importance of the entry of this capital sales management company in the domestic market. According to a press release, SL...
The Mozambican Insurance Company (EMOSE) paid about 380 million meticais in compensation to companies affected by tropical cyclone Idai, which buffeted the city of Beira, Sofala province, in 2019. Most of the companies insured by EMOSE, in the city of Beira, operate in the transport, trade, industry and logistics industries that saw...
State company Electricidade de Moçambique (EDM) is implementing a moratorium on energy charging in the culture and tourism sector, aimed at alleviating the impact of the covid-19 pandemic, the company announced today. EDM avers in a statement that about 20 companies are benefiting from debt escalation and payment flexibility....
After a series of financial scandals, Credit Suisse bank is looking to wash away the negative image stamped on the international market and is selling its trust business, an offshore arm of the bank for wealthy clients. The sale was announced as the Swiss bank defended itself against a claim for more than $1 billion in damages...