Mozambique - 04

Mozambique: Privatization of Struggling Petromoc Nears

The privatization of national fuel distributor Petromoc is nearing, with Gunvor, Vitol, and Puma Energy reportedly interested in taking over the ailing company. The privatization of a number of Mozambican state companies has been in the cards since 2016, when Minister of Finance Adriano Maleiane stated that Filipe Nyusi’s administration will reduce the government’s participation

Mozambique - 02

Mozambique: Challenges Ahead: Nyusi and Frelimo Prepare for Upcoming Elections

The powerful Frelimo CC met once again for an extraordinary session on 26-27 May. President Nyusi stated in his opening address that “we [Frelimo] have to understand the priorities and anxieties of Mozambicans,” which set the tone for the rest of the proceedings. Mostly behind closed doors, 201 of the 209 CC members discussed a

Mozambique - 03

Mozambique: Gas Ties to South Africa Set to Expand

On 19 May, during a speech in parliament, South African Minister for Energy Mmamoloko Kubayi stated that “gas is an integral part of our energy mix.” She elaborated on the government’s gas plan, which includes importing LNG through the Richards Bay plant over the next three to five years and the development of a pipeline

Mozambique - 01

Mozambique: The Audit Report: Competing Versions

On 12 May Kroll’s long-awaited audit of the companies at the heart of Mozambique’s sovereign debt scandal was finally delivered to the PGR. However, no public version of the report was made available. The PGR has already begun analyzing the document, and Attorney General Buchili has stated that she would release a summary version as

Mozambique - 04

Mozambique: Peace Talks Advance After Renamo’s Indefinite Truce

On 3 May Dhlakama declared an indefinite truce rather than extend the existing cease-fire by another 60 days, as he had done previously. Dhlakama stated that he did not want to worry investors “about what would happen after the 60 days of truce expire.” In a conference call with journalists, Dhlakama also noted that in

Mozambique

Mozambique: Audit Delayed Again: New Leads?

The much-anticipated audit into Mozambique’s sovereign debt crisis has been delayed for a third time, and now has a deadline of 12 May. Kroll is scrutinizing three Mozambican companies for incurring over $2bn in state-backed debt: EMATUM, ProIndicus and Mozambique Asset Management (MAM). According to the official press release, the delay is related to fact-checking

Mozambique - 02

Mozambique: China’s Investments: Mixed Local Perceptions

Over the last three years, Chinese investments in Mozambique have exceeded $6bn, making China the biggest source of FDI in the country. Most of these investments are directed to construction, infrastructure and gas – such as China National Petroleum Corporation’s (CNPC) 20% stake in Area 4 – as well as timber products and agriculture. There

Mozambique - 03

Mozambique: 2018 Local Elections: Role of the Peace Process

There has been a distinct lack of media coverage of the ongoing peace negotiations between Renamo and the Mozambican government – a good sign, in our view. According to Horizon contacts, the talks are advancing on a positive note. Last week, both sides agreed on a streamlined work plan, which includes terms of references (ToRs)

Mozambique - 01

Mozambique: Rising Tensions Over Cost of Living: The Role of the Police

The public mood in major cities in Mozambique remains tense as last month’s fuel price hikes were followed by the removal of bread subsidies as of 1 April. (The subsidies has been in place since 2014.) In recent months, bakeries have already reduced the size and weight of bread in order to absorb rising import