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 [...]
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 [...]
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 [...]
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 [...]
Mozambique’s state-owned airports company is in grave financial difficulties and will rely on continued support from the government to stay afloat, its latest published accounts has revealed. The accounts also show [...]
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 [...]
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.