The Confederation of Economic Associations of Mozambique (CTA), the largest private entity in the country, warned this Monday that the high tax burden has contributed to the "zero profitability" of companies, calling on the government to restrain the introduction of new taxes. According to the association's president, Agostinho Vuma, who was speaking in Maputo during the ceremony to celebrate the...
Hidroeléctrica de Cahora Bassa (HCB) was honored on Monday (24) by the Mozambican Tax Authority as the top-ranked company in the "Income Tax" and "Global Contribution" categories. The recognition highlights the company's record payments to the public purse, reinforcing its strategic role in national development. In the last three years (2022 to 2024),...
The approval of a 4.7 billion dollar loan for TotalEnergies' liquefied natural gas (LNG) venture in Mozambique, if confirmed, will improve the prospects for the resumption of the huge project, which could have multiple positive benefits for Mozambique in the medium term, says Fitch Ratings. According to a publication by the agency...
The renewal of Irish mining company Kenmare Resources' contract for the exploitation of heavy sands in the district of Moma, Nampula province, still needs the government's opinion. The company has been waiting for an answer for more than two years, after submitting the renewal request in September 2022. The exploration contract ended in...
The Confederation of Economic Associations (CTA), the largest employers' organization in the country, is asking for a five-year exemption from Value Added Tax (VAT) in the cooking oil value chain in Mozambique to allow the incorporation of local production factors in 30%. According to the Mozambican business community, the measure could boost the production of...
The tourism sector in Mozambique continued to grow despite the political and social turmoil in the last quarter of 2024, with 208 new establishments opening last year. According to a publication in the magazine "Volta ao Mundo", which cites government data, among the establishments inaugurated were 68...
Mozambique will work with the Namibian authorities to exchange experiences regarding legislation in the extractive industry sector, including the construction of infrastructure and access roads, agriculture and others. This was announced by the Mozambican statesman, Daniel Chapo, at a press conference held last Friday (21) in the Namibian capital, Windhoek,...
The Ministry of Economy will remove the protection granted to the cement production industry in Mozambique in 20% to allow for greater competitiveness and, consequently, a reduction in prices. According to AIM, which carried the news, the protection in place was for some large investments that have taken place in the country in recent years, namely Dugongo...
The Local Development Support Fund will be budgeted at more than one billion Meticais, of which around 60% will finance entrepreneurial initiatives led by young people. According to a report in "O País", the document has already been approved by the government and was discussed yesterday at a session of the Interministerial Committee to Support...
Public spending by the Mozambican state reached 471 billion meticais (around 7.4 billion dollars) in 2023, of which 67 percent was spent on salaries, payment for goods and services. Of the money earmarked for operation, around 57 percent was spent on salaries and wages, while...