The central bank revealed that as of June 5th it will stop contributing to the payment of fuel import bills into the country. The information was issued late Wednesday in a communiqué. The note from the Bank of Mozambique, which is signed by the director of the Department of Markets and...
The Minister of Transport and Communications, Mateus Magala said today that the Mozambique Airlines company (LAM) had a real debt lower than that declared, due to a ?technical error?, which required a correction that improved the company's liabilities. According to Mateus Magala, the known debt of over 300 million dollars that...
The Prime Minister, Adriano Maleiane today challenged the national and international investors to bet on the implementation of the mineral resources processing industry at local level in order to add value to the Mozambican extractive industry. According to Maleiane, who made this statement in Pemba, Cabo Delgado province, at the opening of the Energy and Industry Summit, the...
African states operate on utopias that are important for development, one of them being the creation of a single currency to circulate throughout the African continent, argues analyst Calton Cadeado. ?We have reached a level of blockage that does not allow us to believe in the achievement of this utopia within the framework of agenda 2063,? said the analyst in a...
The German Agency for Technical Cooperation (GIZ) will support the Mozambican Government in the training of about 300 young people in matters of entrepreneurship, as a way to promote self-employment in the areas of industry and trade in Manica province. This initiative, which will be implemented later this year, will cover, in a first phase, young people...
Mozambique Airlines (LAM) is no longer insolvent as it has recovered a debt of US$47.3 million owed to the state and private entities since April, a company source said at a press conference. "The debt position was reduced" improving the debt to equity ratio, leading LAM to no longer be considered insolvent,"...
The Prime Minister, Adriano Maleiane, defended yesterday, during the ceremony of taking over the general director of the Mozambique Cereals Institute (ICM), Alfredo da Piedade Nampuio, replacing Momed Valá, the establishment of a bigger link between the production centers and the markets, through the promotion of commercialization of the agricultural production surplus. For Adriano
The revenue from rubies, stood at about 200 million US dollars last year. According to the Bank of Mozambique, in its recently published annual report of the Balance of Payments (BoP) and International Investment Position (IIP), with this scope, rubies were one of the main traditional products exported in 2022....
Mozambique Airlines (LAM) has reduced the price of air tickets by 30%, in six destinations. This measure covers customers on flights to and from Maputo, Beira, Pemba, Tete, Vilankulo and Johannesburg. In a statement, LAM said that with the optimization of the cost for customers, the aim of...
The commercial transactions in the locality of Wikihi, in the Administrative Post of Cobué, in the district of Lago, Niassa, are carried out in Tanzanian currency ?Xelim?, due to the difficulties of access routes with the interior of Mozambique. Depending solely on the sea, the approximately four thousand inhabitants of Cobué are, therefore, obliged to resort to...
