Browsing: Mozambique

• The war in Ukraine has shown how dependent Europe is on natural gas for power. Before the conflict broke out in February this year, Russia supplied up to 40 per cent of Europe’s gas requirements.
• As Russia cuts supplies, these nations are rushing to strike deals in Africa as prices soar.
• Significant investments are needed to build Africa’s trans-regional and intercontinental pipelines to open up access to Europe

The global realignment triggered by the war in Ukraine ushered in a period of transition on the African continent. The current conflict exposed and exacerbated tensions in international agricultural commodity markets existing amid the COVID-19 pandemic. Import-dependent countries with low per capita incomes are particularly vulnerable to shocks occurring amid the war in Ukraine, which further increase their risk of food insecurity.

The agricultural sector is not the only one that is experiencing disruptions; the global energy sector is suffering the same …

Tanzania is not immune to the unrest afflicting northern Mozambique, which has occasionally spilt over the border, so any decision to push ahead with the onshore project will also be made regarding the security situation.

According to the Jornal Domingo online reports, President Filipe Nyusi said it is necessary to exploit the advantage of the countries being neighbours, especially concerning the negotiation of contracts for the exploitation of hydrocarbons. This item is, in fact, one of the great weaknesses of the States.

Mozambique will be the first of the two countries to export liquefied natural gas, which should happen in the coming days, through the Coral Sul offshore project, in Area 4 of the Rovuma Basin, concludes the ‘Domingo’ online report.

According to figures from the Observatory of Economic Complexity (OEC), a global data visualization tool for international trade, as of 2020, Tanzania exported US$114 in Crude Petroleum, making it …

The head of the Portuguese government was speaking in Maputo at a joint press conference with the President of the Republic of Mozambique, with whom he met as part of the 5th Luso-Mozambican Summit.

The Autorização de Residência para Actividades de Investimento – first introduced in 2012 and commonly known as the ‘Golden Visa’ – is a residence permit that provides qualifying non-EU / EEA / Swiss citizens and their families with full rights to live, work and study in Portugal.

According to The Portugal News, an alternative to the Golden Visa is the Portugal Passive Income Visa – also known as a D7 Visa – which provides residency status to non-EU / EEA / Swiss citizens, including retirees, who intend to relocate to Portugal and are in receipt of a reasonable and regular passive income. The D7 Visa is aimed at those who intend to live in Portugal, so …

According to an article by Maritime Executive published August 17, 2022, since May Senegal and Germany have been working together to fast-track the completion of the BP-led Greater Tortue Ahmeyim (GTA) LNG project. The offshore field straddles the border between Senegal and Mauritania and is set to produce 2.5 million tons of LNG in the first phase. Plans call for output to double to 5 million tons in the second phase.

Earlier, Kosmos Energy, which is developing the GTA field with BP, said phase one is 80 percent complete. Senegal is now reporting that it will be ready to export its first LNG cargo to Europe in 2024 when production at Tortue Gas project is scheduled to start.

“Senegal will be able to sell its quota to Europe, especially Germany already, in the second half of 2024,” Mamadou Fall Kane, deputy permanent secretary of COZ-Petrogas, the government committee that monitors …

• Mozambique showcases a new visa program to allow visitors a 90-day stay upon entry
• The travel and tourism industry’s overall contribution to Mozambique’s gross domestic product in 2019 was 6.2%, but that number dropped to 3.4% in 2020.
• In 2021, Tourism receipts counted for nearly $700 million, accounting for approx. 4.1% of total GDP (according to World Travel and Tourism Council)

After the first publication of a stimulus package consisting of twenty measures at the beginning of August, Mozambique made an announcement regarding one of the first measures to be put into action: a reformed Visa system.

Mozambique’s Council of Ministers made the announcement that it had approved amendments that are anticipated to have an impact on both tourism and international investments.

Visitors to Mozambique will now be able to stay in the country for a total of 90 days, up from the previous maximum of 30 days. This change …

The PAE – Economic Acceleration Stimulus Package consists of 22 measures divided into two sets of reforms, the first being fiscal and economic stimulus and the second the improvement of its business environment, transparency, governance, and the acceleration of strategic infrastructure.

The fiscal and economic stimulus interventions include the reduction of selected taxes with a direct impact on the main productive sectors.

The measures announced lower the IRPC from 32 per cent to 10 per cent in agriculture, aquaculture, and public transport, and VAT from 17 per cent to 16 per cent and include a VAT exemption on imports for agriculture and electrification to boost renewable energy.

The Mozambican head of state also signalled the introduction of tax incentives for new investments over the next three years but did not mention the rates of these incentives.…

• The government of Mozambique has ordered retailers of food products to label in Portuguese all their products sold in the country before the end of July 2022
• Portuguese is the official language of six African countries, including Mozambique, Angola, Cape Verde, Guinea Bissau, São Tomé and Príncipe and Guinea Bissau
• Rita Freis said that this is the last year that the government will grant a tolerance for traders to label food products in Portuguese

The government of Mozambique has ordered retailers of food products to label in Portuguese all their products sold in the country before the end of July 2022.

Rita Freitas, the national inspector at the National Inspection of Economic Activities (INAE), announced this during a training seminar on the legal system of package labelling of food products.

Portuguese is the official language of six African countries, including Mozambique, Angola, Cape Verde, Guinea Bissau, São Tomé and Príncipe …

Last March the IMF and Mozambique announced they’ve reached a staff-level agreement on a US $470M facility marking the fund’s much-anticipated return to the country.

At the same time, a set of measures were presented in line with the upcoming new program including the approval of a sovereign wealth fund legislation, fiscal & governance reforms, and the publication of a report on the management of funds the country received from donors as part of its COVID emergency response.

In line with the announcements, the Ministry of Finance has published today (document in Portuguese) a report showing that at the beginning of the pandemic, the country forecasted a total need of US$700M in order to mitigate the effects of the crisis. The document refers to US6,5M in funds deployed in the 2020 fiscal year received from the IMF, the AfDB, the European Union, the US government, the Islamic Bank, …

According to a Fair Tech Institute whitepaper by Access Partnership, a global public policy firm for the technology sector, the annual number of natural disasters is set to increase by 37 per cent from 442 to 541 occurrences by 2025.

The whitepaper highlights the urgency with which national governments and the private sector must attach satellite technology to implement more effective disaster management efforts in Africa and globally.

The whitepaper comes after several organizations agreed that climate change would make weather-related disasters more frequent and widespread in coming years.…