Oil prices closed lower on Friday and posted their biggest weekly loss in three months as investors weighed up weak US jobs data and the possible timing of a Federal Reserve interest rate cut. Brent crude futures for July delivery closed 71 cents lower,...
Mozambican vegetable oil refineries have imported more than 1.3 million tons of crude cooking oil in the last eight years, worth around 88.7 billion meticais. "We want the money used for imports to be used for our economic activity, possibly to promote the production of oilseeds and other activities, creating more...
ExxonMobil is "optimistic and moving forward" with the Rovuma liquefied natural gas (LNG) project in Cabo Delgado, according to a senior company source. The final investment decision could be made by the end of next year, a company official told Reuters yesterday. ExxonMobil and Eni are...
Sales of goods by the Mozambican economy to the rest of the world earned the country 8.2 billion dollars, which corresponds to 40.1 % of Gross Domestic Product (GDP). The data is contained in the annual balance of payments bulletin, released yesterday, Thursday (02), by the Bank of Mozambique (BdM), noting that this figure...
The President of the Republic, Filipe Nyusi, said yesterday that Mozambique had recorded economic growth of 5.1% in Gross Domestic Product (GDP) in 2023, with "the expectation of achieving a positive variation of 5.5%" this year. According to Nyusi, the trend is driven by growth in the extractive sector, estimated at 15.5%, after having registered a rise...
The Confederation of Economic Associations (CTA), the largest employers' organization in the country, believes that instability in the payment and transaction system is creating significant negative impacts on the economy and on the confidence of users of the national financial system, as well as on the business environment. According to the president of the Information Technology and...
The company CFM Logistics has already started port operations linked to the oil and gas industry in the Port of Pemba, Cabo Delgado province, with the aim of adding new business to the enterprise. Cited by Notícias Agostinho Langa, Chairman of the Board of Directors of CFM, said that it was a company set up by Empresa Portos e Caminhos de Ferro de Moçambique,...
Absa Bank Moçambique once again demonstrated a positive financial performance in 2023. It achieved annual net profits of 1,623 million meticais, or 58.7% growth on the previous year. This performance was accompanied by a solid capital base and a robust liquidity position, allowing it to increase shareholder remuneration...
The Bank of Mozambique (BdM) has appointed a resident inspector for Millennium bim, to "reinforce the monitoring" of that financial institution. A note from the BdM to which MZNews had access states that "following the need to reinforce the monitoring of the International Bank of Mozambique (Millennium bim), Mr. Hélder Manuel...
Mozambique's Current Account (CA) balance improved last year, by 4.6 billion dollars, but is still in the black, reports the Bank of Mozambique (BdM). According to the annual Balance of Payments bulletin, released today, Thursday (02), by the BdM, and to which MZNews had access, last year the balance...