News from Cape Verde, Angola & Mozambique

Archive for the ‘Mozambique’ Category

Mozambique Business News

In Mozambique on April 3, 2014 at 10:44 am

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NEWS

Mozambique is likely to miss a deadline to rid the country of landmines laid during the bloody civil war due to skirmishes between the army and former rebels. Mozambique was supposed to clear the last tracts of mined land by the end of this year, but clashes between government forces and the revived Renamo rebel movement could make that impossible (BusinessDay).

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ECONOMY

Mozambique may struggle to find all the investment finance it needs for its ambitious liquefied natural gas (LNG) projects as it must compete with top-rated developed economies with similar big LNG export plans, regional energy and finance experts said. Lacking the capital to develop multi-billion dollar LNG export terminals by itself, Mozambique must attract foreign investment for financing. To encourage this investment, the government is planning to introduce new energy and mining laws that will set a clear regulatory and taxation environment (Reuters).

AVIATION

Nacala International Airport in Mozambique is expected to start operating in August of this year after work to convert the former Nacala Air Base is finished, local press reported.

The monopoly on the airline market by Mozambique’s flagship airline, Linhas Aéreas de Moçambique (LAM) is preventing development of civil aviation and tourism in Mozambique, said Hipólito Hamela, the economic advisor of the Confederation of Economic Associations of Mozambique (CTA).

OIL & GAS

Anadarko Petroleum Corp has sold two-thirds of the capacity of its planned Mozambique liquefied natural gas (LNG) project to Asian customers and hopes to have the rest sold soon. The company is the primary operator of Mozambique’s Rovuma Offshore Area 1, which is estimated to hold more than 65 trillion cubic feet of natural gas. LNG, gas chilled to liquid form for sea transport, is a key fuel source and many Asian nations have been hungry to find steady sources. To develop massive LNG projects though, financiers often require customers to be lined up well in advance (Reuters).

Mozambique has signaled it would approve a move by Eni to reduce its stake in a natural gas field. State-controlled Eni holds a 50 percent stake in the gas-rich Area 4 field which contains reserves of around 90 trillion cubic feet (tcf). Last year, Eni sold a 20 percent stake in the field to Chinese oil company CNPC in a deal worth around $4 billion (Reuters).

MINING

Brazil’s Vale SA expects to line up a partner for its coal operations in Australia and Mozambique despite weak conditions facing the industry. Vale booked a loss of $480 million on its coal business in 2013, mostly from Moatize in Mozambique, which was hit by a sharp rise in rail usage fees and export disruptions due to security threats, while coal prices slumped. This week, the company suspended operations on its Moatize-Beira coal rail line after one of its trains was hit by gunfire, injuring the driver (Reuters).

Mozambique’s government said it’s in talks with Rio Tinto Group over capital gains tax on the company’s $4.2 billion acquisition of Benga coal mines from Riversdale Mining Ltd. in 2011. “The Riversdale-Rio Tinto business is still on the table,” Mozambique Tax Authority President Rosario Fernandes told reporters. “At some stage they have to follow local law” as the acquisition involved mining assets in Mozambique, she said (Bloomberg).

 

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Mozambique Business News

In Mozambique on March 19, 2014 at 9:45 pm

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NEWS

The Mozambican stock exchange (BVM – Bolsa de Valores de Moçambique) plans to launch a technological platform called Central de Valores Mobiliários (CVM) to dematerialise securities, announced the head of BVM, Anabela Chambuca.

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ECONOMY

Mozambique’s overall budget deficit is projected to widen to 9.5 percent this year from 3 percent in 2013, the International Monetary Fund said, as the country continues its spending-driven quest for economic growth (Reuters).

OIL & GAS

The first phase of the project to build the Pemba logistics hub, in Mozambique’s Cabo Delgado province, which is expected to cost US$150 million, has secured funding, local press reported.

Natural gas reserves in the Area 1 bloc of northern Mozambique’s Rovuma Basin
have been revised upward to between 45 billion and 70 billion cubic feet, local press reported.

ENERGY

The future ACWA Power Moatize Termoeléctrica (APMT) thermo-electric power station, in Mozambique’s Tete province, will be one of the biggest investments in Mozambique’s history, as well as being the first in a wave of new coal-fired power plants. ACWA Power Moatize Termoeléctrica is a consortium made up of Brazil’s Vale, Japan’s Mitsui, ACWA Power of Saudi Arabia, as well as domestic shareholders Electricidade de Moçambique (5 percent) and Whatana (8 percent), an investment company headed up by Graça Machel, the widow of both Mozambique’s first president Samora Machel and of South Africa’s Nelson Mandela.

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Mozambique Business News

In Mozambique on March 6, 2014 at 7:07 pm

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NEWS

Mozambique’s ruling Frelimo party picked Defence Minister Filipe Nyusi, a close ally of current two-term President Armando Guebuza, to be its candidate for an election in October that will choose the country’s next leader. Frelimo’s Central Committee voted by a two-thirds margin for Nyusi, 56, after an internal debate in which Guebuza loyalists beat off a challenge from a rival group backing former Prime Minister Luisa Diogo to be the candidate (Reuters).

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ECONOMY

The French government plans to provide US$44 million towards modernisation of the apron area of Maputo International Airport in Mozambique, as part of an agreement signed Monday in Maputo, local press reported.

Mozambique’s budget deficit is expected to reach 101 percent this year and the economy is expected to post growth of 6.9 percent, less than the initial estimate of 8.1 percent, the Business Monitor International (BMI) consultancy said.

South Africa, China and Portugal were the countries who companies made the most new investments in Mozambique in 2013, according to figures from the country’s Investment Promotion Centre (CPI), which approved 418 foreign investment projects worth US$1.363 million.

OIL & GAS

Galp Energia SGPS SA, Portugal’s biggest oil company, raised its investment forecast as exploration and production in Brazil and Mozambique expand (Bloomberg).

ONGC Videsh Ltd, a subsidiary of Indian group ONGC for international business, plans to invest a further US$3 billion in natural gas exploration in the Area 1 block in Mozambique, Indian press reported.

PROJECT OF THE WEEK

inpmoz

Render of the new offices of the National Petroleum Institute (INP) for Maputo.

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Mozambique Business News

In Mozambique on February 20, 2014 at 4:56 pm

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ECONOMY

Standard and Poor’s Ratings Services lowered Mozambique’s long-term foreign and local currency sovereign credit rating to B from B+ on Friday, with a stable outlook.

BUSINESS

A delegation of 26 businesspeople from the United Kingdom (UK) from the energy, oil and gas sectors is currently in Maputo looking into the development of the oil and gas industries in Mozambique, to improve existing trade relations and establish new business partnerships. The group of UK investors took part in the Mozambique-United Kingdom Business Forum, which presented the economic potential of Mozambique, mainly in the energy, oil and gas sector as well as macroeconomic growth prospects for the next few years. The government of the United Kingdom plans to provide US$20 million for rural development projects in Mozambique to micro, small and medium-sized enterprises, the UK Department for International Development announced.

Swiss group ABB will provide the equipment for two sub-stations within the public power grid in Mozambique and refurbish nine other sub-stations, under the terms of a contract worth US$20 million, local press reported.

OIL & GAS

The Mozambican state netted US$227 million in capital gains tax charges on the sale of a 10 percent stake owned by Indian group Videocon Industries in the Rovuma Basin, northern Mozambique, the Mozambican Tax Authority said.

PROJECT OF THE WEEK

niassaresidence

Render of the Niassa Residence building for Maputo.

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Mozambique Business News

In Mozambique on February 13, 2014 at 3:48 pm

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ECONOMY

Mozambique’s mineral-rich economy, one of the Africa’s fastest growing, will expand by 8.1% in 2014 and about the same in 2015, but could achieve higher growth rates if ageing railways to export coal are improved, the central bank governor said (Businessday).

BUSINESS

Comair, the South African airline that operated under a British Airways concession, has put an end to its flights between Johannesburg and Maputo, local press reported.

China and Bangladesh increased their imports of cotton produced in Mozambique by 31 percent and 22 percent, respectively in 2012, whilst Portugal’s imports fell 2 percent in quantity, Mozambique’s Cotton Institute (IAM) said.

PROJECT OF THE WEEK

radissontowers

Render of the Radisson Office Towers, under construction for Maputo.

MINING

Rio Tinto increased coal production at its Benga mine in Mozambique by around 230 percent year on year in 2013. In its annual report and accounts Rio Tinto Coal Mozambique said it had increased production of coking coal from 289,000 tons in 2012 to 867,000 tons in 2013, local press reported.

OIL & GAS

Exor Petroleum of Zimbabwe has set up a partnership with Mozambican oil company Petróleos de Moçambique (Petromoc) in which it will provide assets and Petromoc will provide capital and technical skills, local press reported. Exor Petroleum will provide the partnership with 14 operating service stations, four plots of land for construction, four storage deposits and other storage facilities in Zimbabwe.

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Mozambique Business News

In Mozambique on January 30, 2014 at 8:59 am

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NEWS

President Armando Guebuza inaugurated Mozambique’s new Presidential
palace, which was built by Chinese company Anhui Foreign Economic Construction
Corporation (AFECC), the Mozambican press reported.

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ECONOMY

The multipurpose port terminal of Nacala in Mozambique’s Nampula province is due to start operating this year, according to the local press. The project, which is expected to cost around US$1 billion, will have a storage capacity of 14.5 million tons of coal mines in the Moatize coal basin, in Tete province.

BUSINESS

A mission of the Italian navy is promoting some of Italy’s most important industrial sectors in Mozambique, particularly those linked to the military, naval, furniture and decoration sectors, as part of a touring campaign that will travel to 20 countries in the Persian Gulf and Africa.

PROJECT OF THE WEEK

Assos_1

Render of the Assos residential project for Costa do Sol, Maputo.

MINING

Australian groups Baobab Resources, via its Mozambican subsidiary Capitol Resources, is expected to invest US$1 billion to build a pig iron factory in Tete province, local press reported.

OIL & GAS

Sasol responded to the Mozambique Center for Public Integrety’s allegations that its gas deal was a bad deal for the Mozambican people (CIP).

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Mozambique Business News

In Mozambique on January 23, 2014 at 5:21 pm

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NEWS

Mozambican police arrested three Rwandan citizens in connection with the murder of Rwanda’s former intelligence head, Patrick Karegeya, Bloomberg reported.

A small army of landmine-detecting rats is to be redeployed in Mozambique in a push to meet a deadline to have the country declared free of mines this year. Belgian non-governmental organisation Apopo trains African giant pouched rats to sniff out the explosives in landmines by conditioning them to associate the scent with rewards of food.

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ECONOMY

Deadly skirmishes between militia loyal to Mozambique’s opposition party and their civil war foes in government is putting the country’s stellar economic growth at risk, the International Monetary Fund (IMF) warned (BusinessDay).

BUSINESS

Mozambique was the sub-Saharan African country that attracted the most bank investment in 2013 driven by three agreements in the energy sector, according to a report published by financial news agency Reuters.

Portuguese construction company Sociedade de Construções Soares da Costa has been awarded a new construction contract in Mozambique, specifically in the Nacala Railroad Corridor, in the north of the country, Soares da Costa said.

CMA CGM has launched a new feeder service to ports in Mozambique, dubbed “Rhino Express”. CMA CGM said the service would extend its ports coverage to Quelimane and Pemba, and will improve cabotage capacity in Mozambique, faster transit times from India, the Middle East, Europe and South America’s East Coast to Maputo and Beira, and direct connection between Mozambique and Durban, Seatrade Global reported.

The access channel and some mooring docks in the port of Maputo, Mozambique, will this year be dredged in order to increase their depth from 11 metres to 13.7 metres, thus allowing ships weighing over 65,000 tons to enter the port, the port’s concession company said.

PROJECT OF THE WEEK

maputohotel5star

Render of the 5 star hotel under construction at the Joaquim Chissano International Conference Centre in Maputo

MINING

Since 17 January, more than 50 men, allegedly Mozambique National Resistance (Renamo) guerrillas, have been in the Zobue administrative post, in the north of the Moatize district, Tete Province, central Mozambique, AllAfrica reported.

OIL & GAS

South Africa’s revised 20-year energy draft plan “shockingly” ignores the vast Rovuma Basin gas find in Mozambique. It is the world’s fourth-largest known natural gas deposit, that would solve Eskom’s immediate energy crisis and avoid the costly construction of a third new coal power station (BusinessDay).

THE RISE OF THE PACS

Meet three booming Portuguese-speaking African Countries.

maputobridge

The rise of the what? Another acronym, you say? Well, why not… In Portuguese the countries are called PALOPs, the Paises Africanos de Lingua Oficial Portuguesa (or African Countries with Portuguese as Official Language). So we call them PACs. Three PACs have become booming economies and nobody is stopping them: Cape Verde, Angola and Mozambique. Check it out.

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Mozambique Business News

In Mozambique on January 16, 2014 at 2:45 pm

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NEWS

The Limpopo railroad, which links Mozambique to Zimbabwe, reopened to traffic last weekend, after a five-day stoppage following a derailment, local press reported.

Mozambique’s ports and railways company (CFM – Portos e Caminhos de Ferro de Moçambique) is investing heavily to ensure that by mid-year it has sufficient equipment to provide quality maintenance along the 575 km long Sena Line linking Beira to Moatize in Tete province, local press reported.

Mozambique’s rate of inflation totalled 3.54 percent in 2013, measures by the consumer price index (CPI) in Maputo, Beira and Nampula, the country’s three main cities, the National Statistics Institute (INE) said.

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cantora

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PROJECT OF THE WEEK

tdmaputo

Render of the Mozambican office of Portuguese builder Teixeira Duarte, in Maputo.

MINING

Australian mining company Republic Gold has found two intersected gold mineralisations following test drilling in the Mucurumadazi block, in Mozambique, local press reported.

OIL & GAS

India may receive its first shipment of liquid natural gas (LNG), extracted and processed in Mozambique, in 2019 the Mozambican Minister for Mining Resources, Esperança Bias said in New Delhi.

THE RISE OF THE PACS

Meet three booming Portuguese-speaking African Countries.

maputobridge

The rise of the what? Another acronym, you say? Well, why not… In Portuguese the countries are called PALOPs, the Paises Africanos de Lingua Oficial Portuguesa (or African Countries with Portuguese as Official Language). So we call them PACs. Three PACs have become booming economies and nobody is stopping them: Cape Verde, Angola and Mozambique. Check it out.

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BRAZIL WEEKLY

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Mozambique Business News

In Mozambique on December 12, 2013 at 1:34 pm

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NEWS

The opposition Mozambique Democratic Movement (MDM) has won three of the nation’s four largest cities in local elections, emerging as a credible challenger to the ruling Frelimo party for presidential and parliamentary polls due next year. Besides retaining the mayorships of the ports of Beira and Quelimane in the Nov. 20 municipal vote, MDM gained control of the northern city of Nampula in a re-run on Sunday, held following ballot errors in last month’s polling (Reuters).

A Mozambique Airlines Embraer plane built in 2012 en route to Angola crashed in a game park in northeast Namibia, killing all 33 people on board.

The story of how Mandela found happiness late in life with Mozambique’s former first lady is one the world knows, but their love story is also a tale of politics and personal history intertwined. Their story cannot be separated from that of Graça’s first marriage to Samora Machel, nor her quest to reveal the truth about her first husband’s death (BusinessDay).

BEST MOZAMBIQUE MUSIC & BOOKS

cantora

Check out our Atlantico Store, now with an interesting collection of books about Mozambique as well as music from the country, all available through Amazon. Browse our collection here.

ECONOMY

Cashew nut production in Mozambique this year may not reach the forecast of 95,000 tons due to a number of factors whose real impact is still difficult to determine, said the director of the National Cashew Institute (INCAJU), Filomena Maiópuè.

Tourism in Mozambique in 2012 posted growth of 9.5 percent, with 2.2 million international arrivals compared to 2.01 million in 2011, Prime Minister Alberto Vaquina said.

BUSINESS

Dutch-owned company Valley of Macs, which produces macadamia nuts in Mozambique’s Manica province, plans to export 1,000 tons of macadamias within three or four years, local press reported.

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MINING

Vale said it remains committed to developing its Moatize coal project in Mozambique. But it said it plans to reduce its financial participation in a group that is expanding a rail and port corridor used to move coal from Moatize to the port of Nacala. The importance of the railway to non-coal operations such as agriculture has led Vale to look for outside partners for the rail link (Reuters).

The Mozambican government plans to hold an auction for coal concession in the provinces of Tete and Niassa in June 2014, the national director for Mines said.

OIL & GAS

South Africa’s Sasol Petroleum International (SPI) is due to start producing and selling oil extracted in Mozambique’s Inhambane province in 2014, local press reported.

THE RISE OF THE PACS

Meet three booming Portuguese-speaking African Countries.

maputobridge

The rise of the what? Another acronym, you say? Well, why not… In Portuguese the countries are called PALOPs, the Paises Africanos de Lingua Oficial Portuguesa (or African Countries with Portuguese as Official Language). So we call them PACs. Three PACs have become booming economies and nobody is stopping them: Cape Verde, Angola and Mozambique. Check it out.

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BRAZIL WEEKLY

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OPINION

A reaction to a recent piece in The Economist: Can Brazil Conquer Africa’s Booming Markets?

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Mozambique Business News

In Mozambique on November 28, 2013 at 5:01 pm

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NEWS

Though reports are still sketchy, it appears the opposition MDM has managed to hold Beira and Quelimane in Mozambqiue’s local elections. Though the party did very well in most of the other cities it contested – like in Maputo, where MDM gained 40% of the vote – Frelimo appears to have held the upper hand throughout the rest of the country.

Two foreigners were kidnapped last week after an apparent return to normality, in the capital city of Maputo. Canalmoz reported that on Saturday two kidnappings took place in Maputo. The first happened at 9:30 on Av. Samora Machel and involved a Portuguese citizen aged 22. The second occurred at 23:30, in the borough of Coop, where a 65 year old Vietnamese man was taken hostage. The man is said to be a university professor. The Police spokesperson for the Maputo Command, Orlando Mudumane says that the identity of the kidnappers remains unknown (local reports).

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ECONOMY

Mozambique expects to earn $90 million a year after it establishes a tuna-fishing fleet, Victor Borges, the country’s fisheries minister said. The country, which lies on the Indian Ocean, could catch 23,000 metric tons of the fish a year, Borges said, citing a feasibility study. Mozambique this year sold $850 million in bonds to fund the purchase of tuna fishing vessels and patrol boats, Bloomberg reported.

Mozambique plans to double its electricity-generating capacity to 5,000 megawatts by 2025 as demand increases in southern Africa, said Pascoal Bacela, national director of electricity at the Energy Ministry. The contribution from hydropower plants will decline to 60 percent from 80 percent, while gas will account for 25 percent and coal 15 percent, Bloomberg reported.

BUSINESS

Logistics group Grindrod plans to switch to processing mainly magnetite instead of coal at its Matola terminal in Mozambique, once it reaches a target to more than double capacity. The port aims to process 200-million metric tonnes of minerals a year by March 2018 from the current 7.5-million tonnes, said Grindrod Terminals commercial executive Sean Rowan (BusinessDay).

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MINING

Mozambique will launch a round of bidding for coal mining in its Tete and Niassa provinces in June 2014. “We will have a bidding round for coal probably in June next year. We will select some blocks in the province of Tete and Niassa,” the national director of mines in the Ministry of Mineral Resources, Eduardo Alexandre, told Reuters on the sidelines of a conference (BusinessDay).

OIL & GAS

Mozambique will start liquefied natural gas (LNG) exports in 2018 to feed booming Asian demand, its deputy minister of resources said, aiming to counter speculation the African nation will struggle to start shipments by then. “2018 is the window of opportunity we have set up,” Abdul Razak Noormahomed, told Reuters. That’s “still on track,” he said, adding that the main targets for LNG sales are Japan, India, China and South Korea.

But Eni SpA sees Mozambique, its planned base for African output, struggling to meet a 2018 deadline to build plants allowing the country to ship liquefied natural gas (Bloomberg).

Mozambique’s first commercial production and sale of crude oil is set for next year from a small but profitable inland oil field at Inhassoro, a senior official at South African operator Sasol said (Reuters).

Mozambique is poised to launch its fifth oil and gas bidding round next year, mainly offshore, and is waiting for parliament to pass an amended petroleum law, a government official said. “If it is likely that this year the law is approved, it is likely we will have the bidding round sometime next year,” said Jose Branquinho, resource assessment director at the National Petroleum Institute (INP) (Reuters).

Statoil, Norway’s largest oil and gas producer plans to focus its investments on the most recent discoveries, specifically in Angola, Tanzania, Brazil and the Gulf of Mexico. Cited by financial news agency Bloomberg, the group’s director for prospecting, Tim Dodson, also said that it was very likely Statoil would leave Mozambique.

THE RISE OF THE PACS

Meet three booming Portuguese-speaking African Countries.

maputobridge

The rise of the what? Another acronym, you say? Well, why not… In Portuguese the countries are called PALOPs, the Paises Africanos de Lingua Oficial Portuguesa (or African Countries with Portuguese as Official Language). So we call them PACs. Three PACs have become booming economies and nobody is stopping them: Cape Verde, Angola and Mozambique. Check it out.

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OPINION

A reaction to a recent piece in The Economist: Can Brazil Conquer Africa’s Booming Markets?

 

Mozambique Business News

In Mozambique on November 21, 2013 at 1:46 pm

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NEWS

Mozambicans voted on Wednesday in local elections, haunted by nagging fears of conflict as the ruling Frelimo party confronts an emerging political rival and an old civil war guerrilla chief who has taken his fight back to the bush. In Gorongosa, a village in central Mozambique, voters lined up at two schools, some clearly nervous after opposition Renamo guerrillas in the surrounding hills left pamphlets threatening to disrupt the polls (Reuters).

Clashes in Mozambique’s second city of Beira between rival party supporters and riot police injured more than 20 people and stoked tension ahead of local elections this week that will test opposition to the Frelimo government. In the municipal elections on Wednesday, the Frelimo party which has ruled the southern African state since independence in 1975 faces an emerging challenge from the smaller Mozambique Democratic Movement (MDM), after the main opposition party and former rebel group Renamo decided to boycott the vote (Reuters).

Mozambique risks delays in payments because of questions by donor countries over an $850 million bond issue that will be used to fund fishing vessels and patrol boats, according to advisory company Teneo Intelligence. The government’s decision to underwrite the bond “has generated countless questions and threats” from donors, known as the G19, to delay budget aid, Anne Fruhauf. “Donors are concerned direct budget support will end up funding a guarantee for a very murky deal” (Bloomberg).

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ECONOMY

The private sector’s indebtedness to the banking system increased by 4.283 billion meticais (US$104.9 million) last September to a total of 144.729 billion meticais (US$3.544 billion), indicate provisional Bank of Mozambique figures. In accumulated terms, this balance indicates that bank lending to the private sector has increased by 26.917 billion meticais (US$659 million) since the beginning of the year.

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OIL & GAS

Mozambique has earned little from natural gas exploitation by the South African petrochemical group Sasol in Pande and Temane in Inhambane province, indicates a study by the Public Integrity Centre (CIP) released on Wednesday in Maputo. “This is the country’s first natural gas exploitation project, under way for ten years, and during this period the Mozambican state has earned almost nothing in terms of revenue, although forecasts had indicated that the country could take in US$2 billion during the project’s useful lifespan,” asserts the CIP, a Mozambican non-governmental organisation.

THE RISE OF THE PACS

Meet three booming Portuguese-speaking African Countries.

maputobridge

The rise of the what? Another acronym, you say? Well, why not… In Portuguese the countries are called PALOPs, the Paises Africanos de Lingua Oficial Portuguesa (or African Countries with Portuguese as Official Language). So we call them PACs. Three PACs have become booming economies and nobody is stopping them: Cape Verde, Angola and Mozambique. Check it out.

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OPINION

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SPLIT SECOND POLLS

Mozambique Business News

In Mozambique on November 14, 2013 at 1:39 pm

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NEWS

The deal that helped one of the poorest nations raise $850m and bond investors lock in rates three times higher than US Treasuries is also spurring concern that some money is not going where buyers — and one underwriter — have expected it to go. Two months ago, Credit Suisse Group and VTB Capital financed a flotilla of tuna boats for Mozambique, then packaged the debt into notes for overseas investors. It turns out the fleet also includes anti-pirate patrol boats, according to the French foreign trade ministry. The boats are capable of being equipped with 20mm cannons and military drones, according to Stratfor, a global security advisory firm. Credit Suisse is adamant its funding was not used for armed boats (BusinessDay).

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ECONOMY

Foreign direct investment (FDI) in Mozambique in the first half of the year totalled US$3.6 billion compared to US$601.2 million in the same period of 2012, the Centre for Investment Promotion (CPI) reported.

A spate of kidnappings and a low-intensity conflict with troubling echoes of Mozambique’s civil war are threatening to scare away tourists who normally flock to the country’s palm-fringed beaches. Around this time of year hotel managers, tour operators and shop owners at Mozambique’s Indian Ocean resort towns are usually busy preparing for a deluge of holidaymakers (BusinessDay).

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PROJECT OF THE WEEK

greenmaputo

Render of the Green Building for Maputo.

MINING

Rio Tinto Coal Moçambique (RTCM) achieved last October a new monthly record for outflow of coal to the port of Beira, with 95,000 tons transported by the Sena railway line, local press reported.

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OIL & GAS

State oil and gas company Empresa Nacional de Hidrocarbonetos (ENH) wants to increase its share in the blocks operated by US group Anadarko Petroleum and Italy’s ENI, said the company’s director for engineering projects, Paulino Gregório.

THE RISE OF THE PACS

Meet three booming Portuguese-speaking African Countries.

maputobridge

The rise of the what? Another acronym, you say? Well, why not… In Portuguese the countries are called PALOPs, the Paises Africanos de Lingua Oficial Portuguesa (or African Countries with Portuguese as Official Language). So we call them PACs. Three PACs have become booming economies and nobody is stopping them: Cape Verde, Angola and Mozambique. Check it out.

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OPINION

A reaction to a recent piece in The Economist: Can Brazil Conquer Africa’s Booming Markets?

Mozambique Business News

In Mozambique on November 7, 2013 at 3:48 pm

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NEWS

Poor Mozambicans must make an income from conservation so they don’t join the army of hunters who’ve helped take rhino poaching in neighboring South Africa to a sixth successive record, former President Joaquim Chissano said. Chissano, 74, is setting up a foundation to work with the government to establish a special anti-poaching force and to help develop commercial projects so local residents can benefit from conservation work. He’s seeking $1.2 million in startup costs and $6 million per year from public and private donors (Bloomberg).

South Africa’s Parliament’s standing committee on finance finally adopted a bilateral agreement between South Africa and Mozambique that brings the creation of a one-stop border post between the two countries a step closer. The move has been six years in the making. The facility is expected to expedite the movement of goods and people, reduce congestion and delays, and lower the cost of cross-border trade (BusinessDay).

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PROJECT OF THE WEEK

olympic terrace maputo

Render of the Olympic Terrace porject for Maputo.

INFRA

Mozambican logistics corridor company Corredor Logístico Integrado do Norte (CLIN) has selected German group Siemens to provide it with signalling equipment and the railway control system for the railroad linking Moatize, in Tete province, to the port of Nacala, in Nampula province.

 

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OIL & GAS

US oil group Anadarko Petroleum plans to invest the cash it raised by selling a 10 percent stake in an oil block in Mozambique on shale gas fracking in the United States, the group’s chief executive Al Walker said in Houston.

THE RISE OF THE PACS

Meet three booming Portuguese-speaking African Countries.

maputobridge

The rise of the what? Another acronym, you say? Well, why not… In Portuguese the countries are called PALOPs, the Paises Africanos de Lingua Oficial Portuguesa (or African Countries with Portuguese as Official Language). So we call them PACs. Three PACs have become booming economies and nobody is stopping them: Cape Verde, Angola and Mozambique. Check it out.

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OPINION

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Mozambique Business News

In Mozambique on November 2, 2013 at 7:35 pm

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NEWS

More than 2,000 demonstrators marched in Mozambique’s capital, Maputo, to protest against a wave of kidnappings and armed clashes between government forces and former rebels in central Sofala province. Six people, including a member of an elite police unit that protects President Armando Guebuza and two policemen, were jailed for 16 years on Oct. 28 for their role in abductions. The next day the police criminal investigations director in Maputo, Januario Cumbana, was fired (Bloomberg).

Mining company Rio Tinto is withdrawing expatriate employees’ families from Mozambique for their safety in a sign that an upsurge in kidnappings and violence is worrying investors. Other major companies developing big coal and gas reserves in the former Portuguese colony, Brazil’s Vale, U.S. oil company Anadarko and Italian oil and gas group Eni , said they were closely following political developments there, after clashes between the government army and opposition Renamo guerrillas (Reuters).

Fighting between Mozambique’s army and militia loyal to the opposition Mozambique National Resistance Army, or Renamo, has led to 58 deaths, a military official said. The clash at Maringue in central Mozambique resulted in the deaths of 17 soldiers and 41 members of the militia, the official said, asking not to be named because the death toll hasn’t been released. The government wasn’t aware of any casualties, Manuel Mazuze, deputy national director for defense policy, said (Bloomberg).

Renamo said the army was trying to hunt down and kill its leader after President Armando Guebuza said the former rebel group was threatening national sovereignty with renewed attacks (Reuters).

Carlos Cardoso was the embodiment of patriotic journalism in Mozambique (BusinessDay).

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ECONOMY

The IMF urges Mozambique to improve its business climate (Rotterdam Week).

The Mozambican government will continue negotiating the removal of taxes it currently pays on exporting sugar to the European Union, the Minister for Industry and Trade, Armando Inroga said.

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INFRA

Coal carried from the Mozambican province of Tete along the Sena railroad to the port of Beira has so far this year earned state rail and port management company Portos e Caminhos de Ferro de Moçambique (CFM) US$52 million, the chief executive of CFM-Centro said.

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THE RISE OF THE PACS

Meet three booming Portuguese-speaking African Countries.

maputobridge

The rise of the what? Another acronym, you say? Well, why not… In Portuguese the countries are called PALOPs, the Paises Africanos de Lingua Oficial Portuguesa (or African Countries with Portuguese as Official Language). So we call them PACs. Three PACs have become booming economies and nobody is stopping them: Cape Verde, Angola and Mozambique. Check it out.

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BRAZIL WEEKLY

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buzios

OPINION

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SPLIT SECOND POLLS

Mozambique Business News

In Mozambique on October 24, 2013 at 6:39 pm

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NEWS

Mozambique’s opposition leader Afonso Dhlakama, who is fleeing government forces in a remote jungle region, may have also exiled himself to the political wilderness by abandoning a 1992 peace pact that ended the country’s civil war. His Renamo former rebel group, which embraced multi-party politics after the deal, said on Monday it was annulling the accord with the government after the army overran Dhlakama’s base in the Gorongosa forest of central Sofala province (Reuters).

Mozambican army clashes with former rebels may disrupt coal shipments and public transportation without heralding a return to civil war, said analysts such as Alex Vine, head of the African program at Chatham House (Bloomberg).

Mozambique will hire ex-military personnel to set up a force to combat the poaching of rhinoceroses and elephants in both its own conservation areas and those of neighboring South Africa, the Joaquim Chissano Foundation said (Bloomberg).

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PROJECT OF THE WEEK

caracol

Render of the Caracol project for Maputo.

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INFRA

Traffic at the port of Maputo rose almost four-fold between 2003 and 2012, but the facility and its associated transport corridor still have potential to grow, the Economist Intelligence Unit (EIU) reported. In a recent report on Mozambique, the EIU said that “a lot of progress was made” in setting up conditions to increase goods traffic at the port, which resulted in growth of 275 percent between 2003 and 2012, to 15 million tons of cargo per year, which even so is less than the record of 17 million tons per year in 1971.

Repair and refurbishment work on the Sena railroad in Mozambique, intended to increase its cargo capacity from 6.5 million tons a year to 20 million tons, began this week according to Mozambican daily newspaper Notícias.

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OIL & GAS

Indonesian company PT Energi Mega Persada Tbk. (Enrg) has acquired a 75 percent stake in the exploration, production and concession contract (EPCC) for oil and gas in the Buzi block, in partnership with Mozambican state company Empresa Nacional de Hidrocarbonetos (ENH), which will own the remaining 25 percent.

THE RISE OF THE PACS

Meet three booming Portuguese-speaking African Countries.

maputobridge

The rise of the what? Another acronym, you say? Well, why not… In Portuguese the countries are called PALOPs, the Paises Africanos de Lingua Oficial Portuguesa (or African Countries with Portuguese as Official Language). So we call them PACs. Three PACs have become booming economies and nobody is stopping them: Cape Verde, Angola and Mozambique. Check it out.

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BRAZIL WEEKLY

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buzios

OPINION

A reaction to a recent piece in The Economist: Can Brazil Conquer Africa’s Booming Markets?

SPLIT SECOND POLLS

Mozambique Business News

In Mozambique on October 17, 2013 at 11:14 am

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NEWS

India may soon be linked by direct flights to Mozambique after a civil aviation contract is signed by the two countries, said Mozambique’s ambassador to India, José Maria Morais. At an India-Mozambique business meeting organised by the Federation of Indian Chambers of Commerce and Industry, the ambassador said that as soon as Mozambican airline Linhas Aéreas de Moçambique (LAM) decides which Indian city it wants to fly to, the agreement will be signed, local press reported.

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cantora

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PROJECT OF THE WEEK

platinum

Render of the Platinum building for Maputo, currentlly under construction.

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INFRA

BP’s oil terminal at the Mozambican port of Beira needs investments to be made in it in order to respond to growing demand in central Mozambique and from neighbouring Zimbabwe and Malawi, said the managing director of BP Mozambique.

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MINING

Irish-based miner Kenmare Resources said it would sell new shares to raise 66.33 million pounds ($105.82 million) in short term liquidity after weak pricing for minerals and lower production caused a funding squeeze. Kenmare, which mines ilmenite and zircon from its Moma mine in Mozambique, said it would place 250.3 million new ordinary shares, representing 9.89 percent of its existing share capital, at a price of 26.5 pence per share (Reuters).

THE RISE OF THE PACS

Meet three booming Portuguese-speaking African Countries.

maputobridge

The rise of the what? Another acronym, you say? Well, why not… In Portuguese the countries are called PALOPs, the Paises Africanos de Lingua Oficial Portuguesa (or African Countries with Portuguese as Official Language). So we call them PACs. Three PACs have become booming economies and nobody is stopping them: Cape Verde, Angola and Mozambique. Check it out.

INTERCULTURAL COMMUNICATION?

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Or should you just be yourself? Read the column at Rotterdam Week.

BRAZIL WEEKLY

Check out our sister publication Brazil Weekly, with editions appearing every Friday!

buzios

OPINION

A reaction to a recent piece in The Economist: Can Brazil Conquer Africa’s Booming Markets?

SPLIT SECOND POLLS

Mozambique Business News

In Mozambique on October 10, 2013 at 10:20 am

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NEWS

Mozambique’s main opposition party, Renamo, has stated that it will refuse to take part in further dialogue with the government unless national facilitators and international observers are present. Speaking to the press shortly after the end of the 23rd round of dialogue between the two sides, the head of the Renamo delegation, parliamentarian Saimone Macuiana, argued that these are needed to overcome the current political impasse. After several months of dialogue, the talks have not progressed beyond the first item on the agenda, which is about the country’s electoral legislation (AllAfrica).

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BUSINESS

Israel’s Mer Group has been awarded a turnkey contract to supply telecommunications towers for two of the three mobile phone operators in Mozambique, local press reported.

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INFRA

A train carrying 1,050 tons of inorganic fertilizers has left the port of Beira in central Mozambique, headed for Lusaka, the capital of Zambia, along the Machipanda railroad, local press reported.

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MINING

Midwest Africa and the Rio Tinto group plan to invest over US$4.7 billion in coal mining in Tete province, local press reported. Midwest Africa Ltd, an Indian-owned company based in Mauritius, has plans to invest US$1.416 billion in Ncondezi whilst Anglo-Australian group Rio Tinto will invest US$3.3 billion in its “Zambeze” project.

THE RISE OF THE PACS

Meet three booming Portuguese-speaking African Countries.

maputobridge

The rise of the what? Another acronym, you say? Well, why not… In Portuguese the countries are called PALOPs, the Paises Africanos de Lingua Oficial Portuguesa (or African Countries with Portuguese as Official Language). So we call them PACs. Three PACs have become booming economies and nobody is stopping them: Cape Verde, Angola and Mozambique. Check it out.

INTERCULTURAL COMMUNICATION?

avatar

Or should you just be yourself? Read the column at Rotterdam Week.

OIL & GAS

Eight foreign companies have presented proposals to the Mozambican government to build two natural gas refineries in the Rovuma basin, said Mozambican oil and gas company Empresa Nacional de Hidrocarbonetos (ENH), which manages the States’ mining resources stakes.

BRAZIL WEEKLY

Check out our sister publication Brazil Weekly, with editions appearing every Friday!

buzios

OPINION

A reaction to a recent piece in The Economist: Can Brazil Conquer Africa’s Booming Markets?

SPLIT SECOND POLLS

Mozambique Business News

In Mozambique on October 3, 2013 at 9:59 am

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NEWS

President Armando Guebuza on Monday visited the shipyard in the northern French port of Cherbourg where thirty boats are being built with funds guaranteed by the Mozambican government. The order is for 24 fishing boats and six patrol vessels, and has been valued in the French press at between 200 and 300 million euros (Allafrica).

France is negotiating possible weapons sales to Mozambique in connection with an unusual, somewhat shrouded ship-building deal, a senior official from the African country said Monday. French authorities would not comment on the negotiations. The ship contract, worth at least a quarter of a billion dollars, is raising eyebrows in both countries (ABC News).

SPLIT SECOND POLL

BEST MOZAMBIQUE MUSIC & BOOKS

cantora

Check out our Atlantico Store, now with an interesting collection of books about Mozambique as well as music from the country, all available through Amazon. Browse our collection here.

BUSINESS

Cimpor plans to increase its cement production capacity in Mozambique to 2.4 million tons per year once its new mill at Dondo starts operating, according to a statement from the group controlled by InterCement, of Brazilian group Camargo Corrêa.

The first solar panel factory in Mozambique, which is under construction at the Beluluane Industrial Park, is due to start operating in October with an annual production target of enough solar panels to produce 5 megawatts of power, local press reported.

Mozambique’s third mobile phone operator, Movitel, has won the Strategy Leadership award in mobile communications. The accolade was awarded by the United States consulting company Frost and Sullivan during a ceremony in Cape Town (AllAfrica).

PROJECT OF THE WEEK

mapwaterfront

Render of the Maputo Waterfront project.

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AGRI ETC.

Five Japanese nongovernmental organizations have called for a review of a Japanese government-backed large-scale farm development project in Mozambique. The NGOs demanded a suspension of the project during a press conference held in Tokyo after returning from a visit to the southern African country to look into the situation. The NGOs cited concerns among local small farmers that they cannot make a living if they are deprived of farmland due to the development project. Under the Pro-Savana agricultural development project, Japan, Mozambique and Brazil have been developing the northern part of Mozambique since 2009 in an effort to change the region into a large-scale farm production base for exports (The Japan News).

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MINING

Australian company Beacon Hill Resources has updated the size of its proven and likely coal reserves at its Minas Moatize concession to 39.38 million tons, the company said.

OIL & GAS

Humpback whales are regular visitors to the turquoise waters of Palma Bay. In this remote and unspoilt corner of northern Mozambique, sleepy fishing villages are tucked between mangroves and the coral reefs teem with marine life. All that is about to change as the “gas men” prepare to move in. Hungry to exploit one of the world’s largest natural gas finds in recent years, Italy’s ENI and US, Texas-based Anadarko are finalising plans to build a massive gas liquefaction and export operation in Palma. According to estimates, the country is sitting on as much as 180-trillion cubic feet of gas, the potential benefits of which, if harnessed correctly, could help lift it out of poverty. But, as it readies to cash in on the bonanza, questions are being asked about the environmental and social impacts on its coastline (BusinessDay).

BRAZIL WEEKLY

Check out our sister publication Brazil Weekly, with editions appearing every Friday!

buzios

OPINION

A reaction to a recent piece in The Economist: Can Brazil Conquer Africa’s Booming Markets?

SPLIT SECOND POLLS

Mozambique Business News

In Mozambique on September 26, 2013 at 9:22 am

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NEWS

With approximately 13 months until the general elections scheduled for 15 October 2014, President Guebuza’s successor remains unknown; a fact that is raising diverse speculations; one being that Frelimo, with the majority power and under total command of Armando Guebuza, could change the constitution (of which a debate on a possible revision is currently underway) and the current president would remain for another term. In this analysis, allAfrica looks between the lines of the unknown to unravel the mystery that is causing many sectors to feel goosebumps.

BEST MOZAMBIQUE MUSIC & BOOKS

cantora

Check out our Atlantico Store, now with an interesting collection of books about Mozambique as well as music from the country, all available through Amazon. Browse our collection here.

Deon Meyer writes great thriller/action/crime stories set in post-apartheid South Africa, mainly in Cape Town. His realistic characters are fading police detectives, bodyguards or former hit men, each with his own problem (Rotterdam Week).

BUSINESS

The banking sector in Mozambique is less sophisticated and far smaller than in South Africa, because only one million people — out of a population of 23million — have a bank account. The potential growth in this market prompted Nedbank, South Africa’s fourth-largest bank, to jump at the chance of buying 36.4% of Banco Unico earlier this year. Banco Unico is the sixth-largest full-service bank in Mozambique. It was established just two years ago by the Portuguese investment company Group Americo Amorim Holdings and others (BusinessDay).

A building company which won the contract to build a prison in Chiure district, in the northern Mozambican province of Cabo Delgado, has abandoned the job after taking 13 million meticais (about 435,000 US dollars) from the government, allAfrica reported.

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MEET OUR CONSULTANCY

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INFRA

Work to rebuild 300 kilometres of National Road 6 between Beira and Machipanda in Mozambique, which links that city to Zimbabwe, is due to begin in February 2014,said the Mozambican Minister for Housing and Public Works, local press reported.

Exploration of heavy sands deposits in Sangage, in the Angiche district of Mozambique’s Nampula province, may lead to the re-opening this year of the Angoche shipping port, Portos e Caminhos de Ferros de Moçambique (CFM) announced.

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OIL & GAS

Seismic surveys carried out by Gelombang Seismic Indonesia (GSI) in the Buzi block for Mozambican state oil and gas company Empresa Nacional de Hidrocarbonetos (ENH) have found traces of a possible natural gas reserve, said the administrator of the Búzi district (Sofala).

BRAZIL WEEKLY

Check out our sister publication Brazil Weekly, with editions appearing every Friday!

buzios

OPINION

A reaction to a recent piece in The Economist: Can Brazil Conquer Africa’s Booming Markets?

SPLIT SECOND POLLS

Mozambique Business News

In Mozambique on September 19, 2013 at 9:43 am

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NEWS

The international affairs institute, whose report on Mozambique will be published at month-end, thinks there might be a bilateral intervention by South Africa if things get too hot between Frelimo and Renamo (Businessday).

BEST MOZAMBIQUE MUSIC & BOOKS

cantora

Check out our Atlantico Store, now with an interesting collection of books about Mozambique as well as music from the country, all available through Amazon. Browse our collection here.

Deon Meyer writes great thriller/action/crime stories set in post-apartheid South Africa, mainly in Cape Town. His realistic characters are fading police detectives, bodyguards or former hit men, each with his own problem (Rotterdam Week).

ECONOMY

The Mozambican and British governments are formulating a “high level partnership” in areas such as oil and natural gas, agriculture and the financial sector, allAfrica reported.

BUSINESS

Clover of South Africa will embark on an African expansion plan that will see the dairy heavyweight develop facilities in Nigeria, Mozambique and Angola. The Economist Intelligence Unit predicts that by 2030‚ Africa’s top 18 cities could have a combined spending power of $1.3-trillion, making the continent’s fast-growing economies a target for companies. Along with retailers, consumer goods manufacturers such as Nestlé, Unilever and Mondelez are also growing their African businesses (BusiunessDay).

AGRI

Companhia do Sena plans to resume sugar production in the Luabo administrative district of Mozambique’s Zambezia province, as part of an investment plan with an estimated cost of US$300 million, local press reported.

The yield for maize production in Mozambique is 1 ton per hectare compared to an average of 4.9 tons per hectare for Southern African countries, according to an official from the Mozambican Agricultural Research Institute (IIAM).

Portuguese group Crédito Agrícola plans to start operating in the Mozambican market with a locally-based bank starting in 2014, local press reported.

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MEET OUR CONSULTANCY

Are you planning on doing business in Mozambique? Get there with

Atlantico Business Development

  • business diplomacy
  • economic intelligence
  • political risk assessment
  • market scans

more here.

MINING

Investment ear-marked for Mozambique by Brazilian mining group Vale is unchanged at US$8 billion and difficulties carrying coal away from the group’s projects have not affected it, said the director of Vale Moçambique, Ricardo Saad.

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OIL & GAS

Mozambique plans to sign gas production contracts with Italy’s Eni and Houston-based Anadarko by July next year to make sure that first gas from its lucrative Rovuma basin can start flowing by 2018, Reuters reported.

Two oil terminals are due to be built in the city of Tete and the town of Palma, in Mozambique’s Cabo Delgado province, in order to supply fuel to large coal and natural gas projects, Mozambique’s Energy Minister announced to the press.

TOURISM

A tourist resort will be built on Sambanzoó beach, in Mozambique’s Sofala province, by the Transportes Carlos Mesquita (TCM) group. The resort is the first facility of its kind in the region and will be built in two stages at an estimated cost of US$2.5 million on a 10 hectare plot.

BRAZIL WEEKLY

Check out our sister publication Brazil Weekly, with editions appearing every Friday!

buzios

OPINION

A reaction to a recent piece in The Economist: Can Brazil Conquer Africa’s Booming Markets?