The net profit of Empresa Hidroeléctrica de Cahora Bassa (HCB) between January and September 2024 amounted to 12,919.42 million Meticais, 29.1% and 13.4% higher than budgeted and recorded in the same period of 2023. As a result of this financial performance, according to the HCB press release sent to our newsroom, it is estimated that the net profit by...
The Mozambican state could lose more than 2.3 billion dollars over 25 years - 92 million dollars a year - in a new gas contract that ENI is forcing it to sign. According to the Center for Public Integrity (CIP), the multinational is pressuring Mozambique to sign a contract...
Prices rose by 0.72% in November, bringing year-on-year inflation to 2.84%, driven by the increase in the cost of food and non-settled drinks, according to the National Statistics Institute (INE) "The divisions of food and non-alcoholic beverages and restaurants, hotels, cafés and similar were the ones with the highest price increase, at...
Malawian oil companies have partially suspended fuel imports from the Port of Beira in the face of post-election demonstrations taking place in some parts of central Mozambique. The situation has exacerbated the fuel crisis in the southern region of Malawi, especially in the city of Blantyre, which currently imports fuel from the port...
Australian mining company Syrah Resources declared "Force Majeure" on Wednesday and suspended its operations at the Balama mine, in Cabo Delgado province, as a result of the current socio-political situation. A statement issued today by the company emphasizes that this measure has to do with the progression of the post-election protests that are already affecting several mining companies....
Today in Maputo, the government announced some socio-economic measures to ease the impact of the post-election demonstrations. The plan includes the payment of debts, salaries and pensions. Speaking during the Economic Briefing organized by the Confederation of Economic Associations, Mateus Magala pointed out that the measures will be implemented in January 2025. He said that salaries and pensions...
The valuation of aerospace company SpaceX, of which Elon Musk is the founder and majority shareholder, has reached 350,000 million dollars, making it the most valuable private startup in the world. According to the Financial Times, SpaceX and its investors will buy ordinary shares in the company worth 1,025 million dollars from...
The administrator of the Cimentos da Beira company in Sofala province uses a fake Boletim da República (BR) to access company accounts, the National Criminal Investigation Service (SERNIC) confirmed on Tuesday. The Administrator was appointed by the Sofala Judicial Court as part of the company's insolvency proceedings, which were decreed in October...
Bank counters in the country's financial center may be "apparently" short of coins and banknotes due to the demonstrations that are preventing the normal movement of people and goods. According to the President of the Confederation of Economic Associations - CTA, Agostinho Vuma, the message has already been taken to the President of the Republic, Filipe Nyusi. He said that...
The management of the SAFIRA Mozambique Ceramic factory has decided to temporarily suspend its activities following a violent strike by workers last Friday (06) in which they destroyed some equipment in the production room and used iron bars to attack Chinese technicians. The SAFIRA Mozambique factory is located in the district of Moamba, in the province of...