Browsing: EDM

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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Business Nosso Banco was placed into liquidation in November 2016.
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A commercial bank majority-owned by Mozambique’s public social security fund is to be liquidated by the Bank of Mozambique, with individual depositors set to lose any deposits over 20,000 meticais and business accounts to be left with no apparent recourse. [...]

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Economy The EDM building on Avenida Eduardo Mondlane, in Maputo. Photo © Timothy Haccius / Zitamar News
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Electricidade de Moçambique (EDM) today launched an international recruitment campaign to hire four executive directors to lead the state utility in its aim to make Mozambique an energy hub for Southern Africa, and to provide universal access to [...]

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Coal Executives from SEP, EDM, AFC and Ncondezi Energy in Maputo on 6 July 2016. Photo © Timothy Haccius / Zitamar News
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The Ncondezi 300 MW power project in Mozambique’s Tete province will mark the entry of Chinese power utility Shanghai Electric Power (SEP) onto the African continent as part of its strategy to double in size by 2020, the sponsors of the project told [...]

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Electricity Carlos Yum and Isaura Carmelia Daniel Cuambe. Photos: EDM
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Mozambique’s energy minister on Monday dismissed most of the leadership of state electricity utility Electricidade de Moçambique (EDM) “with immediate effect” – yet said the four sacked executives could stay in place until replacements were found. [...]

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