Intelligent news from Mozambique

Zitamar Daily Briefing, 2 July 2018

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Welcome to Zitamar’s daily Mozambique briefing for 2 July, 2018.

Agenda

  • Today: President Nyusi ends his visit to Cabo Delgado

The latest from Zitamar News:

Nyusi promises 5,000 local jobs on Mozambique LNG projects
President calls for patience on projects which will not start until next decade; and for population’s cooperation in the fight against terror

Venâncio Mondlane joins Renamo, taking hundreds of MDM members with him
Former MDM mayoral candidate leads mass defection to Renamo in the capital

Fastjet raises $10m lifeline from major shareholders
Solenta Aviation, the company’s strategic partner and owner of its licence in Mozambique, agreed to invest $3m in extra shares, while other investors put in a further $7m

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The best of the rest:

  • Nyusi visits troops in Cabo Delgado
  • Sasol tender suspended in ‘sign of tension’ with government
  • Mocuba solar plant to be online by March 2019
  • Corruption questions surround HCB IPO

Nyusi visits troops in Cabo Delgado (O País)
Mozambican president Filipe Nyusi visited two Mozambican military positions on Saturday in the Mocímboa da Praia district of Cabo Delgado province, where the initial insurgent raid took place on 5 October, 2017. Nyusi met with members of the military and community leaders and called for civilians to assist security forces in locating the insurgents.
This is Nyusi’s first trip to the conflict zone since attacks began eight months ago. Though Nyusi would surely rather the country focus on his work to secure peace with Renamo, his visit is a reflection of the level of concern in Mozambique over the situation in Nyusi’s home province.

Sasol tender suspended in ‘sign of tension’ with government (Rádio Moçambique, O País)
Mozambique’s Ministry of Mineral Resources and Energy (MIREME) has suspended a tender launched on 8 June by South African energy company Sasol for the transport of 3,000 barrels of light crude oil per day from the company’s oil wells in Inhassoro, Inhambane province. MIREME claims that Sasol violated Mozambican law by prioritizing bids by foreign companies for the contract. Energy minister Max Tonela said local communities are not feeling the benefit of Sasol’s projects in Inhambane, and said he has recently expressed his dissatisfaction to the heads of the company.
This is a story to watch; it seems the government is losing patience with Sasol, which has been in the country for 14 years. How the situation develops could provide lessons for oil companies who are just now coming into Mozambique.

Mocuba solar plant to be online by March 2019 (Notícias)
The Mocuba solar electricity plant, located in Zambézia province, is expected to begin operation by the end of March, 2019, according to Electricidade de Mozambique board chairman Mateus Magala, who made the announcement at a groundbreaking ceremony for the plant yesterday.

Corruption questions surround HCB IPO (CanalMoz)
CanalMoz notes today that Banco de Investimento Global (BIG) board chairman and former Mozambican energy minister Salvador Namburete played a key role in Mozambique buying Hidroeléctrica de Cahora Bassa (HCB) during his time in government. Along with Mozambican banking giant BCI, BIG recently won the lucrative right to handle HCB’s impending initial public offering on the Mozambican Stock Exchange, creating what CanalMoz termed “questions from an ethical point of view.”
Canal is quick to note, however, that Namburete is sticking to the letter of the law, having waited the two years required between working in government (which he left in 2014, the same year BIG won its license to operate in Mozambique) and taking a job at BIG (which he started in March 2016).

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