Browsing: Mozambique

• Mozambique government acknowledged that not all of the objectives outlined in the 2022 Economy and Social Plan and State Budget (PESOE-2022) had been accomplished
• According to data from the National Statistics Institute (INE), Mozambique’s economy expanded by 4.12 percent in contrast to the 2.9 percent predicted at the start of the 2022 fiscal year
• The Government  plans to use $250 million Mutual Guarantee Fund from the world bank to support small and medium-sized businesses in Mozambique once the fund gets approved.

The government of Mozambique has acknowledged that not all of the objectives outlined in the 2022 Economy and Social Plan and State Budget (PESOE-2022) have been accomplished but it remains positive that the gains will rollover to this year.

The government set 575 targets in 2022, but only achieved 433 of them, or 75% of the target, according to Executive Spokeswoman Ludovina Bernardo. The remaining 142 targets, or …

The Cashew Industry Association (AICAJU) does not identify with the current model, which assigns the government the leading role in setting prices. “AICAJU reinforces its position already expressed previously, and once again appeals to the need to let the market work, since this is what will dictate the real reference price,” reaffirms the association’s Julina Harculette.

In 2021, Harculette said, the Mozambican cashew industry processed around 32,663 tons of cashew nuts last year when the reported total production was 146,000 tons, an increase of 6.52 per cent against the previous year. In 2020, 30,664 tons of cashew were processed in Mozambican cashew industries.

According to Tridge, Europe is the world’s largest importer of cashew nut kernels, accounting for 35-40 per cent of global cashew import value. The value of European cashew nut imports increased by an average of 2 per cent a year in the 2017-2021 period, and volumes increased …

Eni, as delegated operator of the Coral South project on behalf of its Area 4 Partners (ExxonMobil, CNPC, GALP, KOGAS and ENH), confirmed that the first shipment of liquefied natural gas (LNG) produced from the Coral gas field, in the ultra-deep waters of the Rovuma Basin, departed from Coral Sul Floating Liquefied Natural Gas (FLNG) facility.

“The first shipment of LNG from Coral South project, and from Mozambique, is a new and significant step forward in Eni’s strategy to leverage gas as a source that can contribute in a significant way to Europe’s energy security, also through the increasing diversification of supplies, while also supporting a just and sustainable transition. We will continue to work with our partners to ensure timely valorisation of Mozambique’s vast gas resources,” commented Eni CEO Claudio Descalzi.

As part of its exploration activity offshore Mozambique, Eni discovered Coral South gas field in 2012 and took …

Mozambique may, however, be offered a lifeline. In its recent position on CBAM, the European Parliament has proposed an amendment to the CBAM legislation through which revenues generated by the CBAM levy could be used to finance least developed countries’ efforts towards the decarbonisation of their manufacturing industries.

If accepted, the funding could be applied to support the implementation of a green industrialization process in the country fuelled by accelerated investments in Mozambique’s unique renewable energy assets.

The trialogues between the European Parliament, the Commission, and the Council on the design and implementation of the CBAM are expected to continue in the coming weeks, which will lead to a decision on the final form of the CBAM. The result of these discussions will show to what extent the EU will walk the talk on realizing a green transition that “leaves no one behind” and ensures that it supports countries like …

The support for the 2023-2028 period takes into account that Mozambique is indicated as at the same time one of the countries most vulnerable to climate change and one of the least developed.

Despite the riches of its subsoil, the initiative foresees studies for the production of green hydrogen in Mozambique, and the Belgian Development Agency will supply solar panels to remote areas without connection to the electricity grid.

The supply of potable water and irrigation solutions based on solar energy is also being planned, the statement adds.

Belgium will also support the implementation of a national programme for sustainable waste management, which includes the construction of recycling facilities in Nacala and Nampula, with additional support from the NAMA Facility, a multi-donor fund.…

Mozambique, until the Covid pandemic happened, was just 7 years shy of matching or exceeding the record set by South Korea.

The pandemic undermined the southern African country’s economic progress by slowing down critical sectors of economic activity namely tourism, construction, transport, as well as a general decline in the demand for commodity exports. The economy of Mozambique was further undermined by the conflict in the northern province of Cabo Delgado.

Statistics on how many people have been displaced by the conflict vary but they range from 250,000 to 1 million people. At least 850,000 people are estimated to have been dragged below the international poverty line because of the conflict.…

• 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 …