Ana Coanai, president of the Administration Council (PCA) of the State Participation Management Institute (IGEPE), said on Monday that 20 of the 107 public and state-partnered companies in Mozambique are in financial crisis. Investigation of six of these companies by A Verdade reveal current liabilities of more than 77.8 billion meticais, with 27.2 billion in short-term debt to national banks and total liabilities of 156.9 billion meticais.

 

Foto de Adrien BarbierThe unanimity of Renamo’s National Commission in the election of Ossufo Momade to temporarily lead the largest opposition party in Mozambique seems to indicate that this veteran soldier and politician, a Muslim hailing from the largest constituency in Mozambique, could be the successor to Afonso Dhlakama, whose confidence he had.

 

The 867 elephant tusks seized in a container at the port of Maputo on 13 April came from Mozambican elephants, according to the Minister of Land, Environment and Rural Development, Celso Correia, interviewed in the independent online paper “A Verdade”.

 

Foto de Adérito CaldeiraOne of the reasons for the failure of agribusiness in Mozambique is because the state, instead of subsidising the majority of the people who are agricultural producers, has chosen to subsidise the minority living in urban areas.

 

Foto de Adérito CaldeiraLess than three months after its last review, the Bank of Mozambique has again changed foreign exchange regulations to introduce complementary norms to the movement of accounts in foreign currency with a particular incidence on the specific account of export revenue.

 

The Minister of Economy and Finance, Adriano Maleiane, clarified on Monday (12) to A Verdade that the government had not reached any agreement with Russia’s Vnesh Torg Bank (VTB) regarding debts of more than 1 billion US dollars illegally contracted by Proinducus, EMATUM and MAM.

 

While the privileged who live in Maputo murmur that fuels prices are high, gasoline that costs 65.01 in the capital, costs 73.18 in Zumbo and 75.18 meticais in Mecula. Diesel, which in the City of Acacias has risen to 61.16, costs 69.33 in the easternmost district of Tete province and 71.33 meticais in the northernmost district of Niassa province.

 

@VerdadeThe independent Mozambican website “A Verdade” has confirmed that the person who signed the government guarantees for over two billion US dollars worth of loans for the quasi public companies EMATUM (Mozambique Tuna Company), Proindicus and MAM (Mozambique Asset Management) in 2013 and 2014 was the then Finance Minister, Manuel Chang.

 

@VerdadeWhen Mozambique’s civil war ended in1992, outside money began to trickle in. Foreign investors eyed mines, game reserves, islands and oil and gas deposits. Now, international financiers have turned to a new opportunity: farmland, especially in northern Mozambique’s Nacala Corridor. More than 95 percent of Mozambique’s cultivated land is worked by millions of families that farm for food and income. But that land may be at stake if one of the largest agricultural development deals in Africa valued at $4.2 billion, the Lurio River Valley Development project - is realised with up to 100 000 people displaced. Details leaked from the Panama Papers database show the project in Mozambique being orchestrated behind a web of opaque offshore companies with little in the way of credible track records, financing information or even brick-and-mortar offices.

 

One could not have expected different results from those that the Mozambican Parliament's Constitutional Affairs, Human Rights, and Legality Committee presented on the mass grave with about 120 bodies in the centre of the country.