Mozambique

Mozambican President Armando Guebuza has argued that implementation of the Economic Partnership Agreements (EPAs) between the countries of the Southern African Development Community (SADC) and the European Union (EU) should be delayed until 2016. Speaking to reporters in Brussels, where he was attending the Seventh European Development Days (EDD), Guebuza said 'our preference is for 2016. Everything is under negotiation and we are waiting for the results'. The EU is currently insisting that c...read more

Mining and gas companies operating in Mozambique will face fines and may lose their operating licenses if they do not relocate communities in a way that protects their social and economic interests, a government official said on Tuesday. Mozambique passed a law in August to prevent global mineral companies from unjust resettlements. Violent protests earlier this year against previous resettlements threatened to derail investment in the booming economy.

The World Bank has admitted that it is largely to blame for the failure of the project to rehabilitate the Beira railway system. Indian consortium RICON was the dominant partner and was supposed to be in charge of the complete reconstruction of the Sena Line. The World Bank was initially enthusiastic about the project, and backed it up with a loan of 104 million US dollars. The Mozambican authorities, and CFM, soon began to sound the alarm. Ricon kept missing deadlines, and its work failed to...read more

Nobel economics laureate Joseph Stiglitz warned in Maputo against following advice by the International Monetary Fund (IMF) that would make the fight against inflation the number one priority of economic policy. Addressing an overflowing public meeting organised by the anti-corruption NGO, the Centre for Public Integrity (CIP), Stiglitz, who is also a former chief economist at he World Bank, said he had been 'appalled' to discover that the IMF wants to impose 'inflation targeting' on Mozambiq...read more

Nobody can actually buy land in Mozambique. The government owns it all. But the government will give companies exclusive rights to land for 50 or 100 years, and it's really cheap. Mozambique's government, in fact, has been encouraging investors to come and take advantage of this land. Dozens of companies, both foreign and local, have lined up to seize the opportunity.

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