Browsing: Finance

Economy Finance minister Adriano Maleiane presenting the 2018 budget to parliament, 11 December 2017.
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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 Workers on a gas rig offshore Mozambique. Photo: Anadarko
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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 Governor Rogerio Zandamela, left, answering questions from a parliamentary committee chaired by Eneas Comiche, facing Zandamela. Photo © Antonio Nhangumbe, 20 November 2018
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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 Helena Taipo
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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 The Emose building in downtown Maputo. Photo via Facebook
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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 Maputo's downtown financial district. Photo © Tom Bowker / Zitamar News
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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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Economy Mozambique's Ministry of Finance, Maputo © Tom Bowker / Zitamar News
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Mozambican banks are increasingly unwilling to lend money to the state to help cover its budget deficit, which could lead to a renewed public spending crisis in the runup to elections and threatens the Bank of Mozambique’s efforts to combat inflation and [...]

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