Category Archives: Business

Mozambique: World Bank Grant for Skills Development

Maputo — The World Bank on Wednesday approved a grant of 104 million US dollars from the International Development Association (IDA) in support of skills development programs for young Mozambicans.According to a World Bank press release, the project wi…

Mozambique: Illegal Export of Timber Aborted in Pemba

Maputo — The provincial attorney’s office in the northern Mozambican province of Cabo Delgado, has ordered the detention of nine people in connection with an attempt to export timber illegally to China from the port of Pemba.According to a report in Th…

Mozambique: Sango-Maputo Highway to Open Up Trade Links

ZIMBABWE and Mozambique are working towards the construction of the Sango-Maputo highway, which will facilitate connectivity between the two countries. Transport and Infrastructure Development Minister Joel Matiza and Mozambican Minister of Foreign Affairs and Co-operation Veronica Nataniel Macamo Dhlovo held a virtual meeting last week to discuss infrastructure development. The virtual meeting was facilitated by

Mozambique: AfDB Signs Senior Loan for $20b Mozambique LNG

LNG benefits from one of the world’s largest natural gas reserves off the coast of northern Mozambique. Its financial close is expected later this year with its funding coming from a global syndicate of commercial banks, development finance institutions and export credit agencies. The project will be the first liquefied natural gas development in Mozambique

Mozambique: Mrm Delays Investment Due to Pandemic

Maputo — Montepuez Ruby Mining (MRM), the company that operates the largest known deposit of rubies in the world, in the northern Mozambican province of Cabo Delgado, has decided to postpone until 2021 new investment of around 25 million US dollars, because of the impact of the Covid-19 pandemic. The investment was intended for the

Mozambique: LNG Terminal Will Be Built in Matola

Maputo — The Matola Gas Company (MGC), in partnership with the French oil and gas company Total, has guaranteed the construction of a Liquefied Natural Gas (LNG) Terminal in the southern Mozambican port of Matola, in anticipation of declining gas production from the Pande and Temane onshore gas fields in Inhambane province. The South African