Intelligent news from Mozambique

Zitamar Daily Briefing, 1 June 2018

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Welcome to Zitamar’s daily Mozambique briefing for 1 June, 2018.

Agenda

  • Today: Moza Banco shareholder general assembly expected to approve Arise’s acquisition of a stake in the bank

The latest from Zitamar News:

Cahora Bassa hydro evicts Mozambique energy minister from Maputo property
Tonela left the company – which is now planning a high-profile listing on the stock exchange – in 2015

Sasol gives up exploring Mozambique’s ‘Area A’
Sasol and its partners have quit the block after the well they dug was dry

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The best of the rest:

  • Authorities alter election calendar
  • Government borrowed $100m from central bank to guarantee petrol imports
  • Edson Cortês is new head of Centro de Integridade Pública
  • Nyusi moves CPLP ambassador to Saudi Arabia

Authorities alter election calendar (MediaFax)
The registration of candidates for October’s municipal elections, which was supposed to have started today and run to 15 June, will now run from 15 June to 30 June, the election authorities have decided. A new election law should be passed next week in parliament.
By the end of this month, therefore, we should know who the lead candidates are on each party’s list who are running to be mayors of the municipalities – and whether Renamo and the MDM have worked out a deal to cooperate at these elections.

Government borrowed $100m from central bank to guarantee petrol imports (@Verdade)
Despite a decision to make petrol companies responsible for providing the bank guarantees for fuel imports, the government took a MZN 6.2 billion ($100m) loan from the Bank of Mozambique during the first quarter of this year, to deposit at the banking consortium made up of BCI and Millennium Bim in order for the banks to issue the credit note for Mozambique’s fuel imports.
@Verdade says the fact the government had to deposit the cash with BCI and Bim, rather than just give a sovereign deposit, is proof that the banks no longer accept or respect government guarantees.

Edson Cortês is new head of Centro de Integridade Pública (CIP) (CanalMoz)
Edson Cortês is the new director of respected anti-corruption think tank CIP, having been elected yesterday by the organisation’s general assembly to succeed Adriano Nuvunga.
Cortês recently submitted his PhD thesis in Portugal, on the business interests of the Mozambican political elite – and the section on the ‘hidden debts’, in particular, is said to have caused a stir.

Nyusi moves CPLP ambassador to Saudi Arabia (Notícias, AIM)
Faizal Cassam, Mozambique’s ambassador to the Portuguese-speaking countries’ organisation, the CPLP, has been given a new job as ambassador to Saudi Arabia, filling a vacancy left when the incumbent was made ambassador to Italy last month.

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