Browsing: Business

Business The shuttered former Usave store in Dondo, Sofala. Photo © Raindinho Geriano
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UPDATE, 15 November 2018, 09:20: Shoprite has confirmed it has closed the Usave store in Dondo, "but no firm decisions have yet been made on the other two Usave branches in the country." South African supermarket chain Shoprite is closing  a number of its smaller retail outlets in [...]

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Storage & Warehousing The Nacala railway. Photo: Mitsui
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- Gunvor is paying for the $20 million refurbishment of Nacala fuel terminal, and is negotiating rights to all non-coal capacity on the Nacala rail line, sources say - Traders fear the deal will give the Swiss-based commodities trader control of fuel sales to Mozambique’s [...]

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Business The beach at Ponta do Ouro, southern Mozambique. Photo © Tom Bowker / Zitamar News
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Hotel owners and tourism authorities fear the rise of Airbnb is hitting their revenues - but the company argues it is a boon to tourism and communities Mozambique is Airbnb’s third fastest growing market in Africa, with the number of guests more than doubling between 2016-2017 - but [...]

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Business Photo © Obtala
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Forestry and agriculture company Obtala - soon to change its name to Woodbois - has decided to hold on to Mozambican forestry concessions but is looking to hand over its Tanzanian agriculture business to a more “patient” investor.

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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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Business A part of Afritex Ventures' fishing fleet. Photo: Afritex Ventures
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A tuna fishing company based in Beira - part-owned by the Mozambican military’s investment arm which was involved in the $2 billion ‘hidden debts’ scandal - expects to sell 2,000 tonnes of tuna this year, while the EMATUM fleet sits rusting on the edge of [...]

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Business Chanfuta timber, one of the woods whose export has been restricted. Photo: Obtala
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The chairman of forestry company Obtala spent more than $14 million last week buying shares in the company’s forestry subsidiary, less than two weeks after the company suggested Obtala could abandon its Mozambique forestry concessions which are proving “a [...]

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