Standard Bank, one of the largest commercial banks operating in Mozambique, was suspended on Monday, 12, by the Bank of Mozambique from all foreign exchange and currency conversion activity for a period of up to one year, due to "serious prudential and foreign exchange violations"
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Mozambique records third consecutive month of price drops in June
Mozambique accentuated deflation (price reduction) in June compared to the previous month, from 0.31% to 0.52% announced on Friday the National Institute of Statistics
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July 9, 2021July 9, 2021Business
CTA says there are constraints on the competitiveness of national exports
The President of the Confederation of Mozambique Economic Associations (CTA), Agostinho Vuma, believes that the covid-19 pandemic cannot be seen as the only factor contributing to the decrease in the volume of national exports in 2020 (23% compared to 2019) and points to other structural factors that constrain the competitiveness of companies and need to be immediately tackled
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July 8, 2021July 8, 2021Business
Sotheby's auctions 101.38-carat diamond. Payment is in cryptocurrencies
Sotheby's will auction a 101.38-carat diamond this Friday in Hong Kong. In exchange, one of the world's largest auction houses accepts payments in Bitcoin or Ethereum
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July 7, 2021July 7, 2021Business
Mozambique Records Drop in Exports of 24% in the First Quarter
The National Statistics Institute (INE) revealed that in the first quarter of this year trade transactions between the country and the rest of the world had a reduction of 24% in the overall value of trade, reaching a total value of 2,171 million dollars in 2021 against about 2,803 million dollars in 2020
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July 6, 2021July 6, 2021Business
Growth in the country's private sector accelerated in June
Growth momentum in the private sector accelerated in June, according to Standard Bank's PMI indicator, which reflects private sector expectations about the economy
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July 1, 2021July 1, 2021Business
Shrimp and crab catching licenses generate 200 million meticais
About 200 million meticais were generated during the first half of 2021 through licensing for shrimp and crab catching, a performance valued at 56%
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June 30, 2021June 30, 2021Business
EDM strengthens interconnection with countries in the region
The strengthening and expansion of the transmission system and interconnection with neighboring countries is one of the priorities of the public company Electricidade de Moçambique
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June 29, 2021June 29, 2021Business
ADB supports chicken production in Zambezia and Niassa
The African Development Bank (ADB) announced support of 60 million meticais for the acquisition of chicken production kits, for new breeders in Zambezia and Niassa provinces
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June 29, 2021June 29, 2021Business
There is a delay in connecting the Mozambique and Malawi railway line
Work to connect the railway line between Malawi and Mozambique through Nsanje and Mutarara has not yet started on the Malawian side, with nine months left to go