Browsing: Politics & Economy

Agriculture Sugar cane at Tongaat Hulett's Mafambisse estate
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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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Hidden Debts dossier Manuel Chang in court in Johannesburg on 8 January 2018. Photo © Zitamar News
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The decision to extradite former Mozambican finance minister Manuel Chang to Mozambique made by former South African justice minister Michael Masutha in May looks set to be overturned, after the new justice minister concluded that it was unlawful and in violation of Southern African Development [...]

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Economy Finance minister Adriano Maleiane, Prime Minister Carlos Agostinho do Rosario, and fisheries minister Agostinho Mondlane explaining the 'hidden debts' at a press conference in Maputo in April 2016. Photo © Tom Bowker / Zitamar News
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Mozambique’s government says it is seeking legal advice on the implications of restructuring a sovereign Eurobond that it sold in 2016 to refinance a loan for tuna fishing and offshore security company EMATUM, after the Constitutional Council ruled the [...]

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Mozambique's Northern Insurgency
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Mozambique has joined the United States’ main counter-terrorism funding framework for East Africa, following the appearance of a terrorist group in late 2017 in the province of Cabo Delgado where US oil companies Anadarko and ExxonMobil are developing [...]

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Economy Bank of Mozambique governor Rogerio Zandamela. Photo: Bank of Mozambique
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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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Politics Renamo soldiers pose in Gorongosa during the party's Congress in January 2019. Photo © Tom Bowker / Zitamar News
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Renamo’s participation in this year’s Presidential elections is in doubt after a senior officer in the party’s military wing said the party’s leader, Ossufo Momade, would be killed if he does not stand aside before the deadline to submit candidates for October’s Presidential election. A [...]

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Economy EMATUM's fishing boats rusting in Maputo harbour. Photo © Timothy Haccius / Zitamar News
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Mozambique has reached a new restructure agreement with the holders of the majority its sovereign bond — bringing forward the amortisation date by two years and paying higher interest rates than the two sides agreed last November, but eliminating a [...]

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