Mozambique rail firm keen to cut Spoornet wagon link

(Reuters) - Mozambique's state-run railway company said on Friday it was investing $30 million to upgrade its commercial fleet in a move to cut $100 million in wagon hiring fees charged by South African rail freight firm Spoornet.

CFM, which operates the African nation's railways and ports, plans to refurbish 820 refurbished wagons with the investment, more than doubling the current number that travel lines to South Africa and Zimbabwe, spokesman Antonio Libombo said.


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FNB launches Mozambique operations

(Reuters) - First National Bank, a unit of South Africa's second biggest banking group, FirstRand, said on Tuesday it had launched its Mozambican operation, FNB Mozambique.

The launch follows parent company FirstRand's purchase of an 80 percent stake in Banco Desenvolvimento e Comercio (BDC) from majority shareholder Montepio Geral Group in Portugal and other shareholders.


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Mozambique to issue more oil licenses in Rovuma Basin

(Reuters) - Mozambique is preparing to issue companies more licenses for oil and gas exploration in the southern African nation's prized Rovuma Basin, a senior official said on Monday.

"We will launch another round of tenders for more licenses as early as 2008," Arsenio Mabote, director of the National Oil Institute, said in an interview. "Right now we are waiting for environmental assessment reports, which we have ordered."


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