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Economy
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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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Economy
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Mozambique government fails to pay April salaries after T-bond auction failure

The Mozambican government is working to find a solution to pay civil servants’ salaries for April, which were due last week, after failing to borrow MZN 3 billion from the domestic banking system. The Ministry of [...]

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Business
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Mozambican insurers excluded from major Anadarko contract

Mozambican insurers will be excluded from a multi-million dollar contract for the Anadarko-led LNG project in Mozambique, as no local firm meets the tender requirements, Zitamar understands. A call for expressions of interest (EOI) to provide onshore [...]

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Business
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Bank of Mozambique governor puts ATM blame on ‘debilitated’ software provider

A replacement software provider for Mozambique’s ATM and card payments system should arrive in Mozambique this week for “accelerated negotiations” with a view to restoring services which have been out of action since Thursday night, central bank governor [...]

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Finance
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Former Mozambican labour minister indicted in $1.6m corruption scandal

Mozambique’s former labour minister - currently the country’s ambassador to Angola - has been accused by state prosecutors of receiving MZN 100 million ($1.64m) in corrupt payments while serving in the government of Armando Guebuza up to the end of 2014, [...]

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Business
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Erik Prince teams up with Emose to insure Chinese companies in Mozambique

Frontier Services Group, the Chinese security and logistics company chaired by Erik Prince, is working with Mozambique’s state-owned insurance company, Emose, to sell insurance to Chinese companies operating in Mozambique,

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Economy
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Mozambique borrows $15.5m from domestic banks in T-bond auction

The Mozambique government raised more than MZN 900 million (roughly $15.5m) at a Treasury bond auction on Tuesday, exceeding its MZN 700m target after it cancelled the last auction in June due to a lack of demand. NOTE: The Mozambique stock exchange, the BVM, having initially said that [...]

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