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Mozambique News

  • East Africa moves to curb used car imports, boost local assembly plants

    DJIBOUTI CITY, 2016/06/13 East African states are tightening controls on used car imports in a drive to cut pollution and boost the local manufacturing industry. Kenya recently announced that it would scale up its used car emissions laws, joining Uganda which has by presently introduced related taxes. Cabinet Secretary in Kenya’s Ministry of Transport James Macharia said that the policy would any minute at this time be in place and that motorists found to be in breach of the law risk having their cars deregistered. “By the end of the year, we will require vehicles countrywide to undergo a mandatory inspection to determine their level of toxic emissions,” said Mr Macharia.
  • Support from China for the industrialisation of Angola and Mozambique

    CHINA, 2016/06/04 Support from China for the industrialisation of Angola and Mozambique has been set as an objective on a government level, as large investments in local production capacity, even additional necessary at a time of economic difficulties, are presently expected. The Forum for China-Africa Cooperation (FOCAC) held in December 2015 in Johannesburg set the goal to shift Chinese industries to Africa, a subject that was discussed once again during the recent visit by Mozambican president, Filipe Nyusi, to Beijing, inclunding at the same time as his Angolan counterpart was in Beijing.
  • Mozambique seeks investors interested in graphite processing in Ancuabe

    MOZAMBIQUE, 2016/05/17 The graphite processing plant in Ancuabe, northern Mozambique, will be reactivated, and Mozambique is seeking an investor for the project, said Thursday in Balama the President of Mozambique.
  • Mozambique government wants to increase financial inclusion of the population

    MOZAMBIQUE, 2016/05/17 The government of Mozambique plans for 35 % of adults, by 2022, to have access to a bank account at a formal financial institution and that 75 % of districts will offer banking services, according to a newly approved strategy paper. The document – National Strategy for Financial Inclusion (2016/22) -sets out world goals to be completed during the reporting period inclunding the actions to be undertaken by different actors in the economy.
  • Routes Africa forum aims to improve African air connectivity

    BOTSWANA, 2016/05/15  An event dedicated to the development of the African aviation industry will take place next month in Tenerife (26-28 June) to encourage the launch of new air services to, from and within the African continent. Routes Africa 2016 will help to improve African connectivity by bringing together airlines, airports and tourism authorities to discuss next air services. Around 250 route development professionals are expected to attend the forum which was founded ten years ago to stimulate increase in the industry.
  • Economic integration is helping boost trade and investment in Africa

    BOTSWANA, 2016/05/13 The collapse of virtual borders is one of the majority remarkable things to have happened in our lifetimes. In the world of cyberspace, time and distance have become almost peripheral considerations at the same time as it comes to doing business. Services from software development to accounting can be delivered across the world in the blink of an eye. Next business leaders will struggle to imagine an era at the same time as communication was neither immediate nor virtually free.
  • Africa’s economic growth is likely to be slower in the intervening years

    BOTSWANA, 2016/05/12 Africa’s economic increase is likely to be slower in the intervening years than in the before decade, according to the new rating by Ernst & Young using a barometer to gauge the level of appeal and success.“The baseline projection of the International Monetary Fund (IMF) for 2016 is presently reduced to 3%, while it was estimated at 6.1% in April 2015″, Ernst & Young points out in its rating.
  • Beyond Commodities: How African Multinationals Are Transforming

    BOTSWANA, 2016/05/11 Oil, gold, diamonds, palm oil, cocoa, timber: raw materials have long been linked to Africa in a lot of businesspeople’s minds. And in fact the continent is highly dependent on commodities: they constitute as much as 95% of some nations’ export revenues, according to the United Nations Conference on Trade and Development. But propping a country’s entire economy on commodities is risky business, like building a mountainside home on stilts. You can’t be sure about the weather, or in this case the commodities market. The current free-fall of oil prices to less than $40 a barrel is a glaring example. “The commodities cycle has tanked out,” says Austin Okere, founder of Computer Warehouse Group (CWG), a Nigerian emerging multinational financial services company. “And this time it looks additional structural than cyclical, so it’s not a matter of waiting it out. Something has to give.”
  • Macau mission to Brazil promotes the territory as a platform between China and the Portuguese-speaking countries

    MACAU, 2016/05/04 A Macau economic mission is taking part in São Paulo in APAS 2016, an international trade equitable for the supermarket sector organised by the Paulista Association of Supermarkets, from 2 to 5 May, according to official data. The delegation, organised by the Macau Trade and Investment Promotion Institute (IPIM), will meet with entrepreneurs and institutions topromote the territory as a business platform with Portuguese-speaking nations.
  • Mozambique: Secret Loans: What Happens Now?

    MOZAMBIQUE, 2016/04/30 Like a naughty schoolboy caught smoking in the bike shed who is again summoned to the school principal's office, Prime Minister Carlos Agostinho do Rosario flew to Washington to appear before IMF Managing Director Christine Lagarde. Apparently he confessed to her that at least $1.35 billion in loans were taken out in secret without telling parliament or donors - or, most importantly, the IMF. At least $2.2 bn - equivalent to all government spending for five months - has been squandered in secret on boats of dubious necessity and, it is widely assumed, on corrupt payments. So, what happens presently? There are two guiding principles which will shape whatever happens. Initial, Frelimo is obsessed by maintaining unity at all costs. Ever since Eduardo Mondlane was assassinated in 1969, Frelimo has realised that it can only gain and keep power by not splitting up. That means no one is expelled from the party no matter how corrupt or incompetent they are; anyone who may be a threat is given a sinecure. Disputes are settled within the party and the aim is for win-win agreements.