12 °c
London
Tuesday, February 7, 2023
No Result
View All Result
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Africa

Grindrod moves into northern Mozambique

Staff by Staff
March 6, 2020
in Africa, Economy, Fuel, Gas, Infrastructure, Investing, Logistics, Mozambique, Natural Resources, Port
Reading Time: 2 mins read
1.2k 63
0
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

Freight and financial services group Grindrod is pursuing expansion opportunities in northern Mozambique, says CEO Andrew Waller.

Grindrod has said its strategy to invest in infrastructure paid off, despite constrained economic growth in South Africa and a slowing global economy.

The company, which spun off the shipping business in 2018, said it was eyeing various opportunities in northern Mozambique.

Waller said on Wednesday that expansion initiatives included developing road- and port-related facilities at the Port of Pemba, north of Nacala, and establishing a presence in Palma, the port nearest to the liquefied petroleum gas (LPG) exploration activities in the far north of Mozambique.

The group would also consider opportunities in the movement of LPG in northern Mozambique, he said. “We will be involved in the clearing and forwarding of the LPG, anything that has to do with the logistics of moving the LPG,” Waller said.

He said the company had acquired land in Palma in Northern Mozambique, positioning Grindrod to take advantage of logistics opportunities flowing from liquid-gas development in the region.

In the year ended December 31 2019, Grindrod’s port and terminals and its logistics businesses boosted performance with Mozambique’s Port of Maputo reporting record volumes of more than 21-million tonnes.

The Matola Terminal, also in Mozambique, reached a record 81% capacity utilisation. That port’s nameplate capacity is 7.3-million tonnes.

Grindrod said additional handling equipment and rehabilitation of berths contributed to the record volume of 21-million tonnes at Port of Maputo.

Full-year headlines earnings from continuing businesses grew 9% to R525.2m, while earnings improved from a loss of R20.3m in 2018 to R299.9m.

The port and terminals business increased earnings 26% to R175.2m, compared with R139.6m in 2018.

“It is about volumes,” said Waller. We saw good growth at the different ports.”

Grindrod’s share price rose 2.99% to R4.48 on Wednesday, but it is down 10.93% so far in 2020.

Source: Business Day Live via Club of Mozambique

Related

Tags: Andrew WallerGrindrodLiquefied Petroleum GasLPGMaputoMatolaMatola TerminalMozambiqueNacalaPalmaPembaport of Maputoport of PembaSouth Africaмозамбикموزمبيقモザンビーク莫桑比克
ScanSendShare502Tweet314Share88Pin113Send
Staff

Staff

Related Posts

US brings partnership opportunity delegation to Ethiopia
Agriculture

US launches climate resilience programme for Africa agriculture

by Farmers Review Africa
February 7, 2023
Tech

Metaverse in Healthcare: Redefining Africa’s medical sector

by Web3Africa
February 7, 2023
Energy

Towards Africa’s US$1.5 Trillion green hydrogen economy

by Energy Capital & Power
February 6, 2023
Fintech

Morocco’s rocky crypto journey

by Web3Africa
February 6, 2023
The Forbes Billionaires’ list: Africa’s richest people 2022
Private Equity

Adenia Capital (V) gets 75% of its target size at first close

by Africa Global Funds
February 6, 2023
Platform Africa 2023
 
Mozambique eVisa
 
MozParks
 

Translate this page

Read the Latest

US brings partnership opportunity delegation to Ethiopia
Agriculture

US launches climate resilience programme for Africa agriculture

by Farmers Review Africa
February 7, 2023
0

The U.S. Department of State, Office of the Special Envoy for Global Food Security, in partnership with the African Union...

Read more

Metaverse in Healthcare: Redefining Africa’s medical sector

February 7, 2023

Towards Africa’s US$1.5 Trillion green hydrogen economy

February 6, 2023

Morocco’s rocky crypto journey

February 6, 2023
The Forbes Billionaires’ list: Africa’s richest people 2022

Adenia Capital (V) gets 75% of its target size at first close

February 6, 2023

FurtherAfrica Partners Network

The Exchange Club of Mozambique Taarifa Rwanda
TechGist Africa Africa Oil & Power Farmers Review Africa
Tanzania Invest Zambia Invest See Africa Today
Africa Global Funds Novafrica CrudeMix Africa
Harambee Africa Botswana unplugged Financial Insights Zambia
O Económico Digilogic Africa Web3Africa

Subscribe to FurtherAfrica

Enter your email address to receive new articles on your email.

Join 100,773 other subscribers.
FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

© 2021 FurtherMarkets

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
 

Loading Comments...