Mozambique |

Exclusive Interview: Joao Figueiredo, Chairman and CEO, MOZA Banco Mozambique

Joao Figueiredo, Chairman, and Chief Executive Officer, MOZA Banco Mozambique grants an exclusive interview to Capital Markets in Africa. He shared with us his personal life experiences and leadership style as well as Moza Banco’s latest financial performance and the bank’s long-term strategic plans to maximize profitability. Mr. Joao opined that Mozambique’s banking sector will continue to face pressure on the margins of its operating activities as a result of tight credit growth and the low…

Mozambique Loan Bribe Claims May Void Debts, Law Professor Says

Posted on by The Editorial Team

MAPUTO (Capital Markets in Africa) – The arrest of Mozambique’s ex-finance minister and three former Credit Suisse AG managers over alleged bribes could render void about $2 billion of project loans to the country, according to Mitu Gulati, a law professor at Duke University in the U.S. The projects, a tuna fishing and coastal protection system, were created to enrich those involved, and at least $200 million of the proceeds went to bribes and kickbacks, according to an…

Mozambique May Agree Deals on ProIndicus, MAM Loans This Year

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MAPUTO (Capital Markets in Africa) – The Mozambican government said it may reach an agreement with investors on restructuring about $1.2 billion of loans for state-owned companies ProIndicus and Mozambique Asset Management this year. “We expect that we can get that, but we are still in negotiations,” Finance Minister Adriano Maleiane told reporters in the capital, Maputo, on Thursday. He declined to comment on possible terms as that could jeopardize talks. Maleiane said he was “sure” that…

Mozambique President Wants Gas-Area Attackers `Neutralized’

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MAPUTO (Capital Markets in Africa) – Mozambican President Filipe Nyusi condemned a spate of attacks on villages in the gas-rich north of the country and called for the perpetrators to be “neutralized.” The attacks have raised risks for investors developing more than $30 billion of gas projects off the coastal Cabo Delgado province. Researchers said the raids have been carried out by a group known as Ahlu Sunnah Wa-Jama, composed of local people as well as citizens…

Mozambique Cuts Key Rate as Inflation Lingers Near 2015 Low

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MAPUTO (Capital Markets in Africa) – Mozambique’s central bank reduced its benchmark lending rate for the sixth consecutive meeting as inflation lingered near a 2015 low and the regulator tries to spur an economy that’s forecast to expand at the slowest pace in 18 years. The Monetary Policy Committee cut the benchmark interbank rate, known by its Portuguese acronym MIMO and introduced in April 2017, by 75 basis points to 15.75 percent, Banco de Mocambique Governor Rogerio Zandamela told…

Mozambique Oil and Gas: Regulations and Opportunities

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LAGOS (Capital Markets in Africa) – Mozambique has being recently placed among the global major players in the oil & gas sector. This new position is due to significant natural gas discoveries in the country’s northern Rovuma Basin. Despite having activity in the hydrocarbons sector for many decades, just in 2012 these massive offshore started to transform Mozambique’s reality. They added ambitious expectations to the country to become a key player in the LNG global…

INTO AFRICA May 2018 Edition: Bouncing Back – African Oil and Gas

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Welcome to the May 2018 edition of INTO AFRICA, a publication with fresh insight into Africa’s emerging capital markets. This month’s edition, titled: Bouncing Back: African Oil and Gas explores oil and gas laws and regulations across African countries as well financing options for oil and gas projects. With the oil price pushing through to the US$70 mark, and further confidence that the price will remain more stable in…

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