Mozambique president appoints IMF official as central bank governor

President of Mozambique Filipe Jacinto Nyusi. Photo©Markus Schreiber/AP/SIPAMozambican President Filipe Nyusi appointed Rogerio Lucas Zandamela, an International Monetary Fund (IMF) official, as central bank governor to replace Ernesto Gove, whose term has ended, the presidency said on Wednesday.

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Gas fuels Tanzania, Mozambique growth

Photo©Graham KietzmannMozambique and Tanzania's economic potential has been hard hit by low prices for natural gas, but investors are now looking closer to home for customers.

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Telecoms: Mozambique's two state-owned firms to merge

Photo©Lee Neuenburg/ReutersMozambique will merge two state-owned telecommunications companies in a restructuring aimed at returning the loss-making firms to profitability, a senior government official said on Tuesday.

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Sub-Saharan credit growth rates halve in two years

Photo©ReutersPrivate credit growth across sub-Saharan Africa has more than halved over the past two years and ground to a halt in oil exporting countries following low oil prices and the economic slowdown in China, weighing heavily on regional growth prospects, a report said on Friday.

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Mozambique sees growth slowing, austerity measures needed - finance minister

A fisherman bails out his boat in Maputo, Mozambique, May 18, 2016. REUTERS/Grant Lee NeuenburgMozambique, reeling from a sovereign debt crisis, sees 2016 economic growth slowing to 4.5 percent from initial forecasts of 7 percent and needs to bring in austerity measures in an amended budget, Finance Minister Adriano Maleiane said on Thursday.

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India to import pulses from Mozambique through govt channels

Photo©AP/SIPAIndia, the world's biggest consumer of pulses, will help Mozambique in cultivation of pulses and import them through government-to-government deals in the coming years, Telecoms Minister, Ravi Shankar Prasad said on Tuesday.

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Mozambique's tangled web of debt

People seek shade from the hot sun, but will soon feel the pinch of the aid freeze. Photo©©Sven Torfinn/PANOS-REAThe ruling party is struggling to convince voters and bankers that it can clean up the government's books and hold former regime members to account.

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Mozambique's finance minister, Adriano Maleiane sacked by President Nyusi

No reason has been given for the dismissal of Mozambique's Minister of Economy and Finance Adriano Afonso Maleiane. Photo©Sait Serkan Gurbuz/AP/SIPAMozambique President Filipe Nyusi on Thursday fired Finance Minister Adriano Maleiane, who has been embroiled in more than two weeks of negotiations with Russia's VTB Bank over a late $178 million loan repayment.

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Japan eager to support Africa's transformation

Japan's Prime Minister Shinzo Abe, center left, visits the African Union (AU) headquarters in Addis Ababa, Ethiopia Tuesday, Jan. 14, 2014. Photo©Elias Asmare/AP/SIPATwo decades after Japan's pioneering efforts to get Asian countries to engage directly with African leaders by launching in 1993 the Tokyo International Conference on African Development Prime minister Shinzō Abe announced a whopping $32 billion five-year support for Africa's development projects. Fast froward from 2013, the Asian giant wants Africa to "choose Japan as its true partner".

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Finance: IMF says additional $1 bn in Mozambique debt uncovered

Mozambique's government has borrowed $1 billion more than it previously disclosed, the International Monetary Fund said on Friday, adding that the discovery diminished its view of the African nation's economic outlook.

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Electricity: The lights come on slowly

Off-grid electricity projects such as pay- as-you-go solar power, are a central area of Power Africa support. Photo©Sven Torfinn/PANOS-REAUS President Obama's hallmark Africa policy seeks to bring electric power to 60m households. But as he prepares to step down, his legacy project is barely revving up.

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Exxon Mobil in talks to buy into Eni's giant Mozambique gas field -sources

File photo©ReutersExxon Mobil is in talks to buy a stake of around 15 percent in Italian oil major Eni's giant Area 4 gas field in Mozambique, two sources familiar with the matter said.

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Investors find Mozambique "tuna bond" debt swap offer fair

Photo©ReutersHolders of bonds issued by Mozambique's state-run tuna-fishing company Ematum said on Thursday a proposed debt swap offer by the government looked "fair", raising the likelihood of a friendly exchange.

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Banking: Barclays Africa tumbles as British parent signals exit

File Photo©ReutersSpeculation that Barclays could be withdrawing from Africa after almost a century there sent shares in its business Barclays Africa Group tumbling on Monday.

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After Mozambique's spending, the reckoning

Beira port remains a headache with its need for constant dredging, causing bottlenecks. Photo©Thomas Trutschel/Photothek via Getty ImagesPresident Nyusi has inherited a poisoned chalice: he now has to cut spending, deal with the IMF and manage an elite grown fat through patronage politics.

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Finance: Credit Suisse's fishy deal

Recent loans have hurt the government but have benefited players inside and outside of Mozambique, says Jose Ivo Correia, Researcher at Centro de Estudos Moçambicanos e Internacionais.

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Mining: Attractiveness is more important than short-term fluctuations

Alan Davies Chief executive for diamonds and minerals, rio TintoRio Tinto's chief executive for diamonds and minerals, Alan Davies, explains how he sees the company's future in Africa.

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Trade: As EU sugar quota ends, African producers to shift sales to domestic markets

File photo©ReutersSub-Saharan African sugar producers will shift sales to growing regional and domestic markets when exports to the European Union become less attractive after production quotas are dismantled in 2017, industry sources and analysts said last week.

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Energy: Rolls-Royce Power Systems plans African expansion

File photo©ReutersRolls-Royce Power Systems plans to replicate the 100 megawatt (MW) Mozambique gas-fired power station it is commissioning elsewhere in Africa as the company expands its footprint across the continent.

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Oil & Gas: Sasol to start drilling in new Mozambique fields

File Photo©ReutersSouth Africa's Sasol has received the green light from Mozambique to develop more oil and gas fields in the southern African state, the company said on Monday, without disclosing how much the project will cost.

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