Mozambique’s Tax Authority (AT) has formally notified Galp Energia, the Portuguese multinational energy company, to pay €162 million in capital‑gains tax following the sale of its 10% stake in Area 4 of the Rovuma Basin, in the northern Cabo Delgado province. The stake was sold in March 2025 to XRG P.J.S.C., a special‑purpose company created by ADNOC, the United Arab Emirates’ state oil firm, specifically to execute the acquisition. The AT’s assessment applies an effective rate of 17.6% to capital gains estimated at around €920 million. Galp acknowledged receiving the notification in its official report to shareholders. The company, however, contests the tax bill. Galp maintains that its taxable gain amounts to only €26 million, even though it reported €147...
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Former Mozambican Finance Minister Manuel Chang has finally been extradited to the United States after a protracted extradition battle played out in South African courts.
On Wednesday, South Africa’s Justice and Correctional Services surrendered Chang to US Marshals Service, who promptly flew him to the US, where he is to be tried on charges of fraud.
Click on the picture to see the timeline from his arrest on 29 December 2018 to his extradition on 12 July 2023.
Air Mozambique has officially replaced LAM (Mozambique Airlines), closing the chapter on the troubled national carrier and opening another, not...
The military junta currently governing Guinea‑Bissau has sharply rejected recent criticism from Mozambique’s President, Daniel Chapo. Chapo voiced his concerns...
Mozambique received two high‑level Eurasian diplomatic visits in rapid succession this month, signalling a notable intensification of interest from Russia...
The end days Constitutionally, Mozambique’s President Filipe Nyusi ends his second term of office in January 2025 - and if...
Tangled up in the web they themselves wove, the Makonde ethnic group, which has closed ranks and built walls around...
Mozambique’s Frelimo ruling party is expected to meet on Thursday to produce its short-list of candidates who will vye internally...
The latest report from Mozambique’s Financial Intelligence Unit (GIFiM) is not just another technical document on suspicious transactions. It is,...
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Russian Foreign Minister Sergey Lavrov said in Maputo that Russia is “ready to help and respond to the requests of...
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Mozambique’s newest opposition party, ANAMOLA, has accused the Technical Commission for the Materialisation of the Political Commitment for an Inclusive...
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ANAMOLA (National Alliance for a Free and Autonomous Mozambique) will only distinguish itself from other political parties if it builds...
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