Browsing: Mozambique

• 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 US$386,5M 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.…

Last year, the African Continental Free Trade Area (AfCFTA) launched opening up the continent’s 1.3 billion people-strong market. The AfCFTA focuses on increasing intra-African trade which is very low on the continent.  

Trade between African countries is limited and is worsened by language barriers and the lack of harmonised payment settlement systems. These challenges are some of the hurdles that the AfCFTA is meant to address. 

In addition, the treaty proposes more value addition of resources produced in Africa before exporting them outside the continent. The extractives industry in Africa has suffered immensely from the sale of raw products which denies the continent the opportunity to create jobs that could help address the incessant poverty. 

Africa is emerging from the pandemic-induced recession. …

• Tropical storm Ana in January 2022 affected 180,869 people, injured 207 people, killed at least 38 people and flooded a total of 70,982 hectares of land.
• In two weeks, Madagascar, the most cyclone exposed country in Africa, experienced both Ana and Batsirai cyclones.
• The strength of Cyclone Batsirai could increase and spread to other countries in the Southern Indian Ocean.

Several cyclones, from Cyclone Ana, Batsirai, Idai, Eloise, Kenneth and Tropical Storm Chalane, have tormented the southern part of the African continent – from South Africa, Mauritius, Madagascar, Mozambique, Malawi and Zimbabwe.
A cyclone is a tropical storm with heavy winds rotating inwards to an area of low pressure. An anticlockwise circulation occurs in the northern hemisphere, while a clockwise circulation happens in the southern hemisphere.
The frequent occurrence of these storms indicates the heightening effects of climate change in the southern region of Africa and the world at large. …

Pyypl uses advanced Artificial Intelligence (AI) and Machine Learning (ML) for regulatory compliance, Anti Money Laundering (AML), and Counter-Terrorism Financing (CTF).

The platform also conducts real-time Politically Exposed Persons (PEP) and sanctions (both country and individual) screening against the latest and historical UNSC, USDT, FATF, OFAC, and EUCFSF records, as well as all local databases.

Fintech startups in Africa have continued to gain a lot of attention from investors who have been pouring billions of dollars to support the industry. …

As usual, it is the scramble for Africa. This continues with the AU not condemning the anarchy by financiers of the chaos who are mostly not African.
Africa’s underground riches have for decades been driving a cabal of selfish dictators, in collaboration with their Western masters, to doing the unthinkable. Mali is the latest casualty.

Mali is rich in every sense.

The West African nation is the continent’s fourth-largest gold producer after Ghana, South Africa, and Sudan with the country’s natural resources industry dominated by gold. The country’s primary export is gold which accounted for more than 80 per cent of Mali’s total exports in 2020. …

The Maputo daily Noticias wrote after the SADC summit that a budgetary allocation of US$29.5 million has been set aside for the three-month extension, after high-level consultations and this would mean until at least mid-April.

The SAMIM extension set from mid-January.

Addressing the opening session of the summit, the current SADC Chairperson, Malawian President Lazarus Chakwera, urged regional bloc member states to stick together and ensure that SAMIM remains multidimensional and comprehensive.…