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Cabo Delgado: Pemba Municipality on BoM Blacklist for Commercial Bank Debt

Cabo Delgado: Pemba Municipality on BoM Blacklist for Commercial Bank Debt

The municipality of Pemba, the capital of Cabo Delgado province, is on the Bank of Mozambique’s blacklist because of a debt with commercial banks estimated at more than 200 million meticals, the newspaper O País reported on Thursday 23 May.

This was confirmed by the town’s mayor, Satar Abdulgani, who discovered the situation when he was trying to take out a new debt to buy solid waste collection equipment in the People’s Republic of China.

‘The municipality of Pemba is on the Bank of Mozambique’s blacklist. When I travelled to China to meet with partners and tried to buy waste collection equipment on credit to make phased payments over one to three years, I couldn’t because the partners and suppliers wanted a letter of approval from the bank,’ he said.

The debt, according to O País, was taken out with commercial banks during the penultimate term of office, between 2013 and 2018, and the municipality has been trying to resolve the problem until this year.

‘When we approached the financial institutions, we discovered that the municipality can reverse the credit. We will, at the right time, explain how we will resolve the situation so that we can have access to the discharge certificate,’ promised Satar Abdulgani.

According to the management account for 2023, presented at the first session of the Municipal Assembly of the current mandate, which began in February this year, held between 24 and 25 April, the municipality of Pemba has an accumulated debt of almost 750 million meticals, which includes the supply and provision of services. The latter was incurred over the last four terms.

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