Mozambique: Ports and railway firm posts positive results for 2015

CFM rail CDN

Mozambique’s Ports and Railways Company, (CFM) says it posted positive operation results from last year to the tune of $55 million against $41 million in 2014.This represents a 13 percent improvement from the previous year despite the ongoing crisis plaguing the global economy, CFM said in a statement after its board members annual general meeting on Friday.

CFM says in the component of rail traffic load and port handling, the results point to a decrease in the order of 6 percent and 7 percent, respectively, a fact that was due essentially to the weak growth in the world economy and the depreciation of the national currency, the meticais against the US dollar.

Railway traffic load reached approximately 13 million tonnes while the port handling was at 32 million metric tons, against 14 and 34 million registered in 2014, respectively.

Minister of Transport and Communications, Carlos Mesquita
Minister of Transport and Communications, Carlos Mesquita

According to details emanating from the board meeting, the Minister of Transport and Communications, Carlos Mesquita urged the company to reposition itself in the market, in order to tackle the world and regional situation characterized by the economic slowdown and the consequent reduction in the prices of goods.

“It is our view that the Mozambican port needs to reposition, looking for competitiveness and efficiency as the biggest challenge, if we take into account that our infrastructure acting on complementarity with other regional options that also seek better logistics solutions,” said the minister.

Source: StarAfrica