Zitamar Daily Briefing, 11 September 2018


Welcome to Zitamar’s daily Mozambique briefing for 11 September, 2018.


  • Today: Economic Briefing on the financial sector’s performance and perspectives, organised by the CTA
  • Today: President Nyusi departs for an official trip to The Vatican on Thursday and Friday – accompanied by his wife, foreign minister Jose Pacheco, labour minister Vitoria Diogo, and justice minister Joaquim Verissimo

The latest from Zitamar News:

Mozambique inflation tops 5% following currency weakness
Mozambique’s official annual inflation rate breached 5% last month, driven by increases in the price of petrol and of mains water

The best of the rest:

LAM and Fastjet agree to take each other’s stranded passengers (Notícias, O País)
Mozambique’s state-owned airline, LAM, has signed an agreement with recent entrant Fastjet to take each other’s passengers in case of either having to cancel or reschedule a flight. “The FIM (Flight Irregularity Manifesto) agreement intends to minimize future disruptions to travellers and reduce inconvenience across shared routes,” the two parties said – namely Maputo-Beira, Maputo-Nampula, and Maputo-Tete. The agreement follows an initial Memorandum of Understanding between the two companies in March.
On recent performance, this will mostly see Fastjet picking up stranded LAM passengers. It means people can book LAM with more confidence, knowing that they’ll most likely make it to their destination on the right day, at least.

Anadarko seeks to contract LNG ship charters (Tender notice)
Anadarko today published a call for expressions of interest from companies with ships capable of transporting its LNG to its customers, on a long-term basis. Anadarko will take responsibility for the delivery of the LNG it produces in Cabo Delgado, under a delivered ex-ship basis. See here for an explainer on LNG shipping.
Anadarko is making all the right preparations for its project to take FID for the first quarter of next year, but still needs to secure binding offtake agreements for the majority of the project’s 12.88 mtpa LNG output. Sources say the company is close to locking these agreements down, but if it fails to do so in the next six months, Exxon could well take FID first.

Mozambique still banning processed meat from SA (Notícias, Rádio Moçambique)
Mozambique’s national economic activities inspectorate (Inspecção Nacional de Actividades Económicas, INAE) is still banning the import of processed meats such as polony from South African companies, after a listeria outbreak in March.
Last Monday, 3 September, South Africa’s health minister declared the listeriosis outbreak there officially over, as no new cases linked to the outbreak had been identified since the first week of June 2018, and the incidence rate of laboratory-confirmed listeriosis cases had dropped to pre-outbreak levels.

Company Announcements:

Syrah Resources today opened a share purchase plan to eligible shareholders aiming to raise around AUD 14m, after an institutional placement raised AUD 94m last week.

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