Plexus, one of the main cotton exploration firms in Mozambique and which operated in Cabo Delgado province, left debts estimated at around 515 million meticals.
According to a note published in the newspaper Noticias, 95% of these debts were incurred with four national banks: Moza Banco (197 million), BCI (127 million), Access Bank (110 million) and Société Générale (58 million).
The document also revealed that, besides the banks, 3.4 million meticais in salaries that were not paid were identified, and the rest of the debt concerns the tax and social security.
“It is estimated that around 200 workers have unpaid salaries and that 50,000 cotton producers and their families in Cabo Delgado are, since 2022, in difficulties to dispose of the raw material that they previously delivered to Plexus,” reads the note.
Given this scenario, in May this year, the Minister of Agriculture and Rural Development, Celso Correia, revealed the existence of ongoing contacts to find new investors and revitalise the sector.
