Browsing: BNI

Kroll Report Bank of Mozambique governor Ernesto Gove refused to take questions on the hidden debts at a press conference on 21 July 2016. Photo © Timothy Haccius / Zitamar News
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Mozambique’s public prosecutor has named at least 17 people - including former finance minister Manuel Chang, and former central bank governor Ernesto Gove - who it says should face financial penalties for their part in the $2.2 billion debts borrowed on [...]

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Economy The Bank of Mozambique. Photo © Timothy Haccius / Zitamar News
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The government borrowed nearly $200 million from the Bank of Mozambique in three separate loans in 2016 to cover repayments on the EMATUM bonds and ProIndicus syndicated loan, according to a recently released audit of the government’s accounts from that [...]

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Economy IESE's Carlos Nuno Castel-Branco. Photo: Facebook
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The Government’s strategy for a sovereign development fund must be revised, according to Mozambican transparency NGO Centro de Integrade Pública (CIP), because its connection to the Government is too close, and the timeline for its establishment is too [...]

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Business Bank of Mozambique governor Rogério Zandamela addressing journalists on 21 October 2016. Photo © Tom Bowker / Zitamar News
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First Moza, now Nosso Banco – with two failed banks in less than two months in a distressed economy, there is a broad expectation in the market that other banks could be in danger. A look at what the two failed banks have in common provides some clues [...]

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Economy Maputo, capital of Mozambique. Photo: Zitamar News
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Mozambique has been talking for some time about a new, wide-ranging round of privatisations of its state-owned companies - but as the country faces an unprecedented  economic crisis, the need to press ahead is urgent. Some companies, such as Lisbon-based [...]

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Economy Mozambique's Ministry of Finance, Maputo © Tom Bowker / Zitamar News
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Mozambique’s credit rating is due to be updated tomorrow by ratings agency Standard & Poor’s, while their counterparts at Moody’s are understood to be in Maputo today, 4 February, holding talks with officials at the ministry of finance.

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