Maputo News
Southern African free trade zone agreed.
Regional leaders have agreed to launch a free trade area in the Southern African Development Community (SADC), which comprises Angola, Botswana, Democratic Republic of Congo, Lesotho, Madagascar, Mala...
Maputo News
Old Metical no longer legal tender.
On 1 January the old Mozambican notes and coins ceased to be legal tender although they are still being used occasionally for transactions across the country, local news sources report. Under the curr...
Maputo News
Mittal Steel South Africa, the largest steel manufacturer in Africa, has purchased two idle steel mills in Mozambique. The $11.5 million (R90 million) acquisition of Companhia Siderurgica de Mozambiqu...
Maputo News
New sugar silo for Maputo port.
A new sugar silo with a capacity of 50,000 tons has been inaugurated in the port of Maputo. The $10.5 million structure is the result of a collaboration between four regional sugar associations the S...
Maputo News
New family of the metical introduced.
The so-called new family of the metical (metical da nova famlia) becomes legal tender as of 1 July. On that date, new coins and notes will come into circulation alongside the existing currency and sho...
Maputo News
The statutory minimum wage for industry and service sector employees has risen by 13 per cent to 1,443,170 meticais ($57.7) a month and for agricultural workers by 11.5 per cent to 1,023,800 meticais...
Maputo News
Preparations for currency reform.
As of 1 April, all shops and other businesses are obliged to indicate their prices in both the existing metical and in its new simplified form in readiness for the introduction of the new family of th...
Maputo News
The Mozambican energy ministry has announced a drop in the price of all petroleum products except fuel oil. Under the new regime, cooking gas now costs 22,500 meticais per kilo (-11,6 per cent); unlea...
