Browsing: Business
‘No sugar mill will be closed in Mozambique’ – minister
The government of Mozambique is guaranteeing that sugar mills in Mafambisse and Xinavane will not be closed and no workers will be laid off, despite financial troubles for the mills’ majority shareholder, trade minister Ragendra de Sousa told
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Property developer Grit cashes in on Mozambique gas and mining boom
Property developer Grit Real Estate Income Group appears to be cashing in on the anticipated resource boom in Mozambique, as oil and mining companies are estimated to be paying a total of around $5-6 million a year in rent for their offices and luxury flats in Maputo and Tete.
Anadarko is [...]
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Tongaat Hulett could now close both Mozambican sugar mills
The Xinavane sugar mill in southern Mozambique is under threat of closure following a decision by its majority owner, South Africa’s Tongaat Hulett, to walk away from its other Mozambican mill at Mafambisse in the centre of the country.
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BM interest rate cut brings policy into top end of IMF’s ‘normal’ range
The Bank of Mozambique (BM) this week took another step toward ‘normalising’ monetary policy in the country, cutting its policy interest rate for the first time this year to bring it down to the top end of a range that IMF economists say would be [...]
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Mozambique’s Mafambisse sugar mill on the brink of shutdown
The Mafambisse sugar mill is on the brink of being closed, Zitamar News has been told by various sources, as its South African majority owner, Tongaat Hulett, is seeking [...]
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Saudis snap up Mozambique’s biggest fertiliser supplier, but rival remains upbeat
The fertiliser market in Mozambique will grow and become more competitive, one of Africa’s biggest fertiliser producers, OCP, has said, after rival mining and phosphate company Ma’aden has entered the market.
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Anadarko contractor shot in 10 May Cabo Delgado attack
A contractor working on Anadarko’s project in Afungi, Cabo Delgado, was shot on Friday, 10 May, while travelling towards the LNG site to restart work after a two-month shutdown following
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Fastjet ‘challenged’ by increased competition in Mozambique’s skies
In March 2018, East African low-cost airline Fastjet was bullish about its freshly launched business in Mozambique; in five months, the airline had achieved “strong load factors” on its initial routes between Maputo and Beira, Nampula and Tete. But just over a year later, Fastjet says its [...]
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Uncaught Tuna: Cyclone Kenneth
A crucial question, as the rebuilding from Cyclone Kenneth begins, is how the conflict in Cabo Delgado will shape the recovery and, in the longer term, how the recovery may change the conflict