AGP Executive Report

Banking Leadership Shake-up: Mozambique President Daniel Chapo reversed a recent central bank appointment, naming Felisberto Dinis Navalha as governor of the Bank of Mozambique and Waldemar de Sousa as deputy, as the country grapples with inflation and lingering debt fallout. Energy & Power Deals: ePointZero agreed to buy 90% of Azura Power, giving it controlling interest in 752MW of operating generation across Nigeria, Senegal and Mozambique, pending approvals. Gas Pricing Watch: South Africa’s NERSA approved a maximum gas price of R97.31/GJ for Sasol Gas for Q1 2026/27 and kept a quarterly adjustment mechanism, while noting Mozambique gas supply declines. Trade & Logistics: Five Southern African customs administrations (including Mozambique) agreed a roadmap for customs-to-customs data exchange to cut border delays and logistics costs. Rovuma LNG Supply Chain: Corinth Pipeworks won a major line-pipe supply package for Rovuma LNG Phase 1 in Mozambique, valued at $200m–$250m. Central Bank Consumer Refunds: Mozambique’s central bank ordered lenders and mobile wallet operators to refund $1.15m after improper fees and commissions in the first half of 2026. FACIM Business Push: Mozambique hosted FACIM 2026 with UAE and Brazil backing trade and investment ties, while President Chapo urged higher domestic production and exports to ease foreign-currency shortages. Port & Cargo Expansion: ICTSI signed to acquire TLG to expand cargo-handling across South Africa, Mozambique and Namibia. Security Advisory: The US kept Mozambique at Level 2 travel advisory, with parts of the north under Level 4 “Do Not Travel,” citing terrorism risks affecting tourism. Corruption Probe in Fuel Imports: Malawi police arrested senior NOCMA officials over alleged fraudulent transfers linked to fuel shipment charges involving Mozambique ports.

Banking Leadership Change: Waldemar de Sousa has been named the new Bank of Mozambique governor, replacing Rogerio Zandamela, in a major shift for the country’s monetary authority. Power & Regional Trade: Mozambique’s 400kV MOMA interconnector is now fully built on the Mozambican side and energised, with Malawi finalising tariff talks before commercial power trading starts—another step for cross-border electricity supply. Energy Demand Pull: Eskom says it wants to revive surplus power exports and industrial demand, with Mozal aluminium in Mozambique flagged as a potential return within a year if shareholder agreements land. Regional Customs Digitisation: Malawi, Mozambique, South Africa, Zambia and Zimbabwe agreed a roadmap to link customs systems via Customs-to-Customs data exchange, aiming to speed clearance, improve revenue collection and curb illicit cross-border trade. Health Policy: WHO and partners marked African Traditional Medicine Day, urging more investment in research, regulation and innovation so traditional medicine can support universal health coverage. Governance & Politics: Mozambique’s opposition figure Venâncio Mondlane’s trial is set to test the Supreme Court and raises questions about political immunity and transparency. Trade & Infrastructure Finance: Namibia has not yet paid its SADC illegal fishing centre contribution, even as the Maputo-based centre is meant to strengthen monitoring and enforcement.

Mozambique Public Finance Watch: Mozambique’s Administrative Tribunal blocked irregular spending of 1.2 billion meticais in the first half of 2026, citing budget gaps, weak transparency in hiring and tenders, missing documents, and misuse of direct awards. Japan–Mozambique Infrastructure: JICA will disburse 10.4 million US dollars to rebuild the Natete bridge in Nampula’s Ribáue district, with upgrades to access roads and riverbank protection to boost mobility and trade along the Nacala corridor. Regional Security Agenda: AU leaders meeting in Luanda pushed reforms to Africa’s peace and security architecture, flagging crises including northern Mozambique and the Sahel as priorities for stronger coordination and African-led solutions. Mozambique in the Power Market: Abu Dhabi’s ePointZero (2PointZero Group) agreed to buy 90% of Azura Power, which operates in Mozambique among other markets, as Africa’s electricity demand is expected to nearly double by 2040. Trade & Transport Link: A new DRC–Angola rail deal targets the Lobito corridor to move minerals faster to Atlantic ports, supported by major international backers. Humanitarian Support: Zimbabwe’s Red Cross says it has assisted over 10,000 returnees from South Africa with emergency help amid the migration crisis.

Public Finance Oversight: Mozambique’s Administrative Tribunal blocked irregular spending of 1.2 billion meticais in the first half of 2026, citing issues like missing documents, weak procurement justification and misuse of “direct award” contracting. Infrastructure & Connectivity: JICA will disburse about $10.4m for reconstruction of the Natete bridge in Nampula, including bridge works plus road access and riverbank protection to boost mobility and trade. Telecom Market Moves: ARC cleared Visabeira Mozambique’s plan to raise its stake in TV Cabo to 80% by buying 30% from state operator Tmcel, with regulators saying competition won’t be significantly harmed. Ports & Trade Investment: ICTSI agreed to acquire 100% of TLG Acquisition Holdings, a port and cargo operator active in Mozambique, Namibia and South Africa, expanding ICTSI’s regional footprint pending approvals. Food Security Logistics: WFP says its Dubai hub has already shipped over 5,500 tonnes of humanitarian cargo this year, helping keep aid moving despite supply chain disruptions, including to Mozambique. Health Systems: A Tanzania-Mozambique trial on TB testing for people with HIV found broader screening didn’t speed treatment starts, but urine and stool were easier to collect than lung mucus—supporting practical testing alternatives.

Trademark Fraud Crackdown: Zimbabwe’s ZACC arrested Spiwe Mutandwa after a raid in Harare’s Southlea Park allegedly found 3,600kg of sugar repacked into bags with counterfeit Tongaat Hulett branding, with charges for fraud and forging registered trademarks. Regional Governance & Trade Friction: Commentators link South Africa’s xenophobic violence to wider SADC misgovernance and migration pressures, warning it’s now driving diplomatic embarrassment. AU Peace Agenda: President John Dramani Mahama arrived in Luanda for the AU’s 21st Extraordinary Session, aimed at adopting an action plan to strengthen conflict prevention and resolution, with Mozambique among the security backdrops. Mozambique Health Research: A Tanzania-Mozambique trial on TB screening for people with HIV found broader testing using urine and stool didn’t speed treatment starts versus usual care, but urine was easier to collect and detected the most confirmed cases—useful where mucus samples are hard. Mozambique Business & Ports: ICTSI agreed to buy full ownership of TLG, an integrated port and cargo operator with Mozambique, Namibia and South Africa operations, pending regulatory approvals. Digital Skills Push: Google expanded its free AI Plus offer to students in 27 African countries including Mozambique, with access to Gemini tools and cloud storage after verification.

Health Funding Gap: Malawi says it has denied its health sector K646bn over five years after missing the Abuja Declaration target, with the 2025/26 health budget at 9.2% (K1.02tn), leaving CT scanners idle and patients waiting on floors. Mozambique Health Care: A Tanzania-Mozambique trial on TB screening for people with HIV found urine and stool are easier to collect than lung mucus, with urine tests detecting most confirmed cases—useful when mucus can’t be produced. Ports & Trade: ICTSI has signed to buy 100% of TLG Acquisition Holdings, expanding its port and cargo operations across Mozambique, Namibia and South Africa (deal value not disclosed; approvals pending). Energy & Power: USTDA is lining up a Southern Africa power-infrastructure delegation (including Mozambique) to the US to showcase grid-management tech and unlock procurement opportunities. LNG & Gas Markets: With LNG supply tightness looming, the report points to Nigeria LNG progress and delayed gas projects in Mozambique and others as demand stabilises but prices stay volatile. Digital & Business Risk: Malawi’s NOCMA cyber-fraud case highlights how public payments can be diverted via impersonation, raising pressure for stronger safeguards. Regional Security Diplomacy: President Mahama arrives in Luanda for the AU extraordinary session focused on conflict prevention and resolution, with Mozambique cited among the security backdrops.

Mozambique Public Finance: Mozambique’s wage bill eased in the first half of 2026, with state spending on salaries and remuneration down 3.9% to 107.2 billion meticais, as authorities push to contain the public-sector wage burden. Anti-Corruption & Aviation: Linhas Aéreas de Moçambique (LAM) ex–director general João Carlos Pó Jorge and two former executives face formal charges over alleged mismanagement, embezzlement, fraud and abuse of office, after six months in pre-trial detention. Power & Investment: U.S. Trade and Development Agency (USTDA) is lining up partnerships to modernize Southern Africa’s power infrastructure, with a delegation including Mozambique set to visit the United States later this week. Regional Trade & Ports: ICTSI has signed to buy full ownership of TLG, a port and cargo operator with assets across Mozambique, Namibia and South Africa, pending regulatory approvals. Tech for Students: Google expands its free AI Plus offer to students in 27 African countries, including Mozambique, with access to Gemini tools and cloud storage. Business Climate Watch: ACB scrutiny continues across the region after a major fuel-payment fraud case, highlighting how payment controls and verification failures can hit public money.

Mozambique Energy Access Push: Electricidade de Moçambique (EDM) says it plans at least 420,000 new electricity connections by end-2026, reaching about 2 million people, as access rises to 66.9% of the population (22.7m people) versus 2019’s 9.8m. Public Finance Watch: Mozambique’s state wage bill fell 3.9% in the first half of the year to 107.2bn meticais, as the government tries to contain spending on a workforce of 350,000+. Aviation Accountability: Mozambique’s anti-corruption case against LAM ex-DG João Carlos Pó Jorge moves forward, with formal charges laid after six months in detention over alleged fraud, embezzlement and abuse of office. Port & Trade Deal: ICTSI has signed an agreement to buy 100% of TLG Acquisition Holdings, a port and cargo operator active across Mozambique, Namibia and South Africa, pending regulatory approvals. Regional Business Risk: South Africa’s Britam reports 52% profit-before-tax growth and a 53% jump in net profit for the half-year, citing stronger underwriting. Anti-Fraud Spotlight (Malawi): Malawi’s NOCMA faces ACB scrutiny after a US$403,605 (K700m) fuel-payment scam tied to “fraudulent correspondence,” with top executives summoned and police arrests reported. Mining & Environment: Reporting flags concerns over Mozambique heavy mineral sands extraction, including alleged mangrove clearing and projects without proper environmental impact assessments.

Mozambique Public Finance: Mozambique’s wage bill eased as state spending on salaries and remuneration fell 3.9% in the first half of 2026 to 107.2 billion meticais, as the government pushes restraint on a public-sector payroll covering more than 350,000 workers. Electricity Access: EDM says it aims to add at least 420,000 new electricity connections by end-2026, extending access to about two million people under its “Energy for All” push. Aviation Accountability: Mozambique’s former LAM director general João Carlos Pó Jorge and two ex-executives face formal charges over alleged mismanagement, embezzlement, fraud and abuse of office tied to catering payments, supplier contracts and aircraft transactions. Regional Energy/Trade Watch: South Africa extended red meat export registration rules for UAE-bound farms and feedlots to 31 Dec 2026 to avoid disruptions while compliance checks continue. Anti-Corruption (Malawi): Malawi’s ACB summoned NOCMA CEO Emmanuel Matapa over a disputed US$403,605 (about K700m) fuel payment linked to “fraudulent correspondence,” as police also arrested two senior NOCMA officials over the same matter. Mining & Environment (Mozambique): A Mongabay investigation alleges Chinese-linked heavy sands extraction in Mozambique’s Zambezi Delta destroyed mangroves by blocking waterways, raising fresh questions on enforcement after satellite alerts were reportedly ignored for years.

Mozambique LNG Momentum: Rovuma LNG is nearing financial close, with ExxonMobil-led Area 4 partners pushing toward final investment decisions as Cabo Delgado projects restart and scale up. Industrial Revival in Mozambique: South Africa’s IDC is in talks with former Mozal shareholders to buy South32’s stake and revive the aluminium smelter before year-end, a potential boost for jobs and Eskom-linked demand. Fuel & Governance Risk (Regional): Malawi’s NOCMA fraud scandal deepens as the ACB summons CEO Emmanuel Matapa over a US$403,605 (K700m) payment to alleged scammers tied to Mozambique port fuel operations; police have already arrested senior executives. Mining & Environment: Satellite monitoring and reporting point to long-ignored mangrove destruction in Mozambique’s Zambezi Delta linked to Chinese heavy-sand mining, raising pressure for enforcement. Graphite Deal: A Chinese subsidiary has acquired 70% of Triton Minerals’ Mozambique graphite assets in Cabo Delgado, tightening China’s grip on battery-grade supply chains. Air Mozambique Case: Former Air Mozambique (LAM) managing director Pó Jorge faces 31 corruption and financial crimes charges over alleged irregular payments, contracts and aircraft-related misconduct.

Anti-Corruption Crackdown (Malawi): Malawi’s ACB summoned NOCMA CEO Emmanuel Matapa over a US$403,605 (K700m) fuel-payment fraud, after police arrested NOCMA deputy CEO Miklas Reuben and senior operations manager Thokozani Sesani over the same alleged scam linked to Mozambique port handling. Cross-Border Finance (Mozambique/SADC): eZi Remit teamed up with Mastercard to improve speed and access for remittances from South Africa to 25 countries, including Mozambique, using Mastercard Move and multiple payout channels. Mining & Environment (Mozambique): A Mongabay probe says Chinese-linked heavy sands mining in Mozambique’s Zambezia blocked waterways and destroyed hundreds of hectares of mangroves—highlighting enforcement gaps after satellite alerts. Graphite Deal (Mozambique): Shandong Xinsheng Minerals bought 70% of Triton Minerals’ Mozambican graphite assets for A$17m, tightening Chinese control of battery-grade supply. Energy/Industry (Mozambique): Mozambique’s Frelimo leader Daniel Chapo urged policies that deliver real economic results, as the party sets a 2027 congress roadmap. Trade (Mozambique): Zimbabwean exporters plan to expand in Mozambique at FACIM 2026, with a Zimbabwe Pavilion targeting buyers and partnerships.

Mozambique LNG & local content: ExxonMobil has earmarked about US$4bn for local content in the Rovuma LNG Area 4 project, with CTA urging Mozambican firms to prepare for strict tender requirements via its Local Content Bureau. Energy supply contracts: Corinth Pipeworks won a Mozambique LNG Phase 1 line-pipe deal worth up to US$250m for offshore gathering network pipes, a major supply-chain milestone for the Rovuma development. State finance & procurement integrity: Mozambique approved regulations to operationalise the Development Bank (BDM) to mobilise long-term resources and back strategic investment, while INSS is training procurement staff after corruption cases tied to alleged embezzlement. Telecom & state assets: Government authorised ministers to find a new strategic investor for publicly owned Tmcel, naming potential partners including Axian Telecom and Aikun Solutions. Regional trade push: Zimbabwean exporters plan to expand in Mozambique at FACIM 2026, with a dedicated Zimbabwe pavilion aimed at unlocking buyers and partnerships. Business education via sport: AWS and NBA Africa will expand NBA Math Hoops across Africa, building on a pilot that included Mozambique. Cabo Delgado displacement forum: Mozambique is holding a two-day forum on the future of displaced people as Cabo Delgado conflict enters its ninth year, with over 1.3m displaced.

Rovuma LNG Local Content: Mozambique’s business lobby says ExxonMobil has earmarked about US$4bn for local content in the Rovuma LNG Area 4 project, urging Mozambican firms to prepare for strict tender criteria via the CTA Local Content Bureau. Energy Supply Contract: Corinth Pipeworks won a Mozambique LNG Phase 1 line pipe deal worth $200m–$250m for about 250km of offshore gathering-network pipe, boosting the Rovuma supply chain. Public Finance Institutions: Government approved regulations to make Mozambique’s Development Bank (BDM) operational, positioning it to mobilize long-term resources and catalyse strategic investment. Telecom Ownership Search: Mozambique authorised a process to find a new strategic investor for state-owned Tmcel, with Axian Telecom and other named bidders in the mix. Procurement Integrity Push: Mozambique’s INSS is training staff involved in public procurement after corruption cases tied to alleged embezzlement of 433m meticais. Cabo Delgado Displacement: A government forum is underway to discuss the future of displaced people as Cabo Delgado’s conflict enters its ninth year, with displacement now exceeding 1.3m. Regional Tourism Link: Tanzania and Mozambique are exploring a regional tourism corridor to boost jobs and foreign-exchange earnings through linked destinations. Sports & Business Angle: Mozambique’s Geny Catamo remains a transfer target as Sunderland weigh options, while Mozambique’s Costa do Sol features in regional women’s football qualifiers.

NOCMA Fraud Fallout: Malawi’s NOCMA says hackers impersonated Mozhandling Limited and diverted US$403,605 (about K700m) via fake banking instructions tied to fuel handling at Mozambique’s Port of Nacala, prompting a police investigation and renewed questions on payment controls. Fuel Corridor Boost: Mozambique and Zimbabwe’s CPMZ will break ground on Sept. 2 for two pumping stations to lift the Beira–Feruka pipeline’s capacity 67% to 5 million cubic metres by end-2027, strengthening Southern Africa’s petrol, diesel and jet fuel supply. Digital Trust for Mozambique: INTIC and Tablu Tech are working on MoDi Sign to modernize Mozambique’s advanced digital signature system, aiming to expand digital identity and secure digital transactions. Ports & Logistics: Grindrod reported resilient interim results, with record Maputo dry-bulk exports and strong Matola terminal performance supporting growth, while rail and other logistics segments faced mixed conditions. Regional Energy Diplomacy: The US Trade and Development Agency will host power-sector stakeholders from Angola, Botswana, Mozambique and Zambia to discuss modernizing electricity distribution and grid control systems. Governance Watch (Malawi): Malawi’s MEC dismissed social media claims that its chairperson was stopped at Kamuzu International Airport, but the episode adds to scrutiny over transparency and independence.

Mozambique Digital Trust: Mozambique’s INTIT and Tablu Tech are working on MoDi Sign to modernize the country’s advanced digital signature system, aiming to strengthen digital identity and secure public/private transactions. Fuel Security Boost: CPMZ will expand the Beira–Harare fuel pipeline capacity by 67% to 5 million cubic meters by end-2027, with new pumping stations in Sofala and Manica. Regulatory Health Milestone: Mozambique’s medicines and imported vaccines regulator ANARME has reached WHO ML3, signaling a stable, well-functioning regulatory system. Cyber Fraud Fallout (Region): Malawi’s NOCMA says hackers stole US$403,605 (about K700m) via email impersonation tied to Mozhandling and the Port of Nacala, prompting police investigations and renewed calls for tighter payment controls. Regional Trade & Logistics: Grindrod reported resilient H1 results, with record port throughput supporting growth, including Maputo/Matola corridor performance. Sports (Mozambique in focus): CAF Women’s Champions League-COSAFA qualifiers: Mozambique’s Costa do Sol face South Africa’s Sundowns as Silver Strikers push for semi-final qualification.

Cybercrime in the region: Malawi’s NOCMA says it lost about US$403,605 (K700m) after hackers impersonated Mozhandling Limited, hijacked fuel-shipment emails for the Port of Nacala, and tricked the company into wiring funds to a fake Bank of America account; the scam was spotted two weeks later and investigations are underway, with NOCMA admitting internal control weaknesses tied to earlier fuel procurement changes. Energy & infrastructure: ExxonMobil Moçambique has awarded roughly $1.1bn in pre-investment contracts for Rovuma LNG Area 4 offshore Cabo Delgado, covering long-lead equipment and early Phase 1 works as the project moves toward final investment decisions. Mozambique business regulation: Mozambique approved a new telecom licensing decree, replacing the 2017 framework with unified and class-based licences across municipal to international footprints. Regional power partnerships: USTDA will take decision-makers from Angola, Botswana, Mozambique and Zambia to the US to pursue grid modernization partnerships, including AI-enabled control systems. Fuel corridor expansion: CPMZ will break ground on Beira–Feruka pipeline pumping stations to lift annual capacity from 3m to 5m cubic metres by end-2027, strengthening diesel, petrol and jet fuel supply into landlocked SADC markets. Talent & workforce: UBA inducted 374 graduates from its GMAP across eight countries, including Mozambique, as it scales its leadership pipeline.