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MAP - 2022 Africa Day in Nouakchott Features Moroccan Cuisine
Nouakchott - May 26,2022 - (MAP) - The 2022 Africa Day celebrated Wednesday in Nouakchott has featured the Moroccan cuisine,...
MAP - Maroc Fashion Week, du 2 au 4 juin à Marrakech
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SANA - زراعة الوردة الشامية في ريف اللاذقية نواة لتنمية اقتصادية بالمنطقة
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NNA - Launch of manual to support women’s leadership in conflict prevention and management in Lebanon
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MAP - La Tunisie invité d'honneur du 18è Festival international Cinéma et Migrations d’Agadir
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MAP - 'Patrimoine urbain en Afrique', une réflexion collective pour une gestion durable du patrimoine urbain africain
Rabat - 26 mai 2022 - (MAP) -La conférence "Patrimoine urbain en Afrique : Entre défis de sauvegarde et enjeux...
SANA - شعبان بقلب واحد… فعالية خيرية لدعم الأطفال من ذوي الإعاقة والأيتام
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NNA - وزارة الصحة: 108 إصابات وحالة وفاة واحدة
وطنية - أعلنت وزارة الصحة العامة في تقريرها اليومي تسجيل "108 اصابات جديدة بفيروس كورونا رفعت العدد التراكمي للحالات المثبتة الى1098899، كما تم تسجيل حالة وفاة واحدة...
NNA - إطلاق دليل لدعم القيادات النسائية لمنع نشوب النزاعات وإدارتها في لبنان
وطنية - أطلقت هيئة الأمم المتحدة للمرأة والمركز المهني للوساطة في جامعة القديس يوسف في بيروت، اليوم، دليلا لتدريب النساء صانعات السلام العاملات على منع نشوب النزاعات وإدارتها في لبنان،...
MAP - Visite de travail du CESE du Maroc en Côte d'Ivoire
Rabat-26.mai.2022-(MAP)-Une délégation du Conseil Économique Social et Environnemental (CESE) du Maroc s'est rendue à Abidjan pour participer à un atelier...
MAP - L'économie circulaire, un facteur clé pour plus de prospérité (M. Chami)
Rabat -26 mai 2022-(MAP)- L'économie circulaire joue un rôle crucial pour faire du Maroc un pays plus prospère économiquement, ...
MAP - Les villes intelligentes sont conçues pour répondre aux effets des changements climatiques et aux attentes des citoyens (ministre)
Casablanca-26 mai 2022-(MAP)-Les villes intelligentes sont conçues pour répondre aux effets des changements climatiques et aux attentes des citoyens...
MAP - Marrakech accueille le Festival de Son Altesse Sheikh Mansoor Bin Zayed Al Nahyan des courses de chevaux Pur-sang Arabe (SOREC)
Casablanca - 26 mai 2022 - (MAP) -Le Festival de Son Altesse Sheikh Mansoor Bin Zayed Al Nahyan des courses...
SANA - اكتشاف مدفن جنائزي يعود للعصر الروماني في عمريت
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NNA - Health Ministry: 108 new corona Cases, one death
NNA–In its daily report on the COVID-19 developments,the Ministry of Public Health announced on Thursday the registration of 108new infections...
NNA - بيروت عاصمة الشباب في موعدها وتثبيت تمويلها من مجلس وزراء الشباب والرياضة العرب
وطنية-للمرة الأولى منذ سنوات طويلة في تاريخ مجلس وزراء الشباب والرياضة العرب، خضع المكتب التنفيذي في اختياره لعملية انتخابية، فترشحت احدى عشرة دولة لثمانية مقاعد، بالإضافة الى مصر دولة المقر...
MAP - Tanger abrite le 1er salon international de recyclage et de gestion des déchets 'RWM expo 2022'
Casablanca -26 mai 2022-(MAP)- "Energie et Mines Mag", 1er magazine spécialisé dans l'énergie, les mines et le développement durable,...
MAP - Collective Thinking for Sustainable Management of African Urban Heritage
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MAP - Launch in Tangier of 2022 Strait Search-and-Rescue Exercise
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Lusa - Business News - Mozambique: Bosses want collective fuel purchases to cut costs
Maputo, May 26, 2022 (Lusa) - The Mozambique Confederation of Economic Associations (CTA), the country's biggest employers' organisation, ...
CNA - تأكيد العلاقات الاستراتيجية القبرصية المصرية خلال زيارة عمل للوزير كاسوليديس إلى القاهرة
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بحسب بيان صحفي صادر عن وزارة الخارجية اختتم الوزير...
Lusa - Business News - Portugal: Stock market soars almost 2% with bank BCP at the forefront
Lisbon, May 26, 2022 (Lusa) - The Lisbon stock market followed the gains of the main European markets on Thursday...
Lusa - Business News - Mozambique: Government confident in no more fuel price hikes
Accra,May.26,2022(Lusa)-Mozambique's economy and finance minister expressed confidence on Thursday that it would not be necessary to raise fuel prices again...
Lusa - Business News - Portugal: Government believes Covis-19 peak passed
Lisbon, May.26,2022(Lusa)-Portugal's minister of the presidency said on Thursday that the data on the evolution of Covid-19 in Portugal indicates...
Lusa - Business News - Portugal: Domestic wheat production only covered 6.3% of consumption in 2021
Lisbon, May.26,2022(Lusa)-National production of wheat corresponded to 6.3% of domestic use of this grain in 2021, versus 59.9% in 1990,...
Lusa - Business News - Angola: President 'within deadline' to call August general elections
Luanda, May 26, 2022 (Lusa) - Angola's president, João Lourenço, said on Thursday that he was "within the legal deadlines"...
CNA - وزير الخارجية يجتمع مع الأمين العام لجامعة الدول العربية في القاهرة
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قالت وزارة الخارجية في منشور على حسابها على تويتر، أن المناقشة جاءت في...
CNA - وزير الخارجية يبحث مع نظيره المصري العلاقات الثنائية والمشكلة القبرصية والتحديات الإقليمية
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Lusa - Business News - Portugal: State invests €4M at Hannover Messe'22 to promote 'Portugal makes sense'
Lisbon, May.26,2022(Lusa)-The Hannover Messe'22 industrial fair "is the biggest investment in the last decade by AICEP in promotional activity,"...
Lusa - Business News - Portugal: PM, Spain PM discuss aid to Ukraine, sanctions on Russia ahead of EU summit
Madrid, May.26,2022 (Lusa) – The Portuguese prime minister and the head of the Spanish government meet on Thursday in Madrid...
Lusa - Business News - Portugal: Young creators award winners 2021 waiting six months for their prizes
Lisbon,May.26,2022(Lusa)–The winners of the National Young Creators Award 2021 have not yet received their cash prizes from the Portuguese sports...
CNA - مجلس الوزراء يناقش وقف ارتداء الكمامات في معظم المباني الداخلية
ذكر مصدر في وزارة الصحة أنه من المتوقع أن يقدم وزير الصحة ميخاليس حادجيبانتيلاس لمجلس الوزراء يوم الجمعة اقتراحاً بشأن رفع إجراء وضع الكمامات في الأماكن الداخلية، باستثناء المباني عالية...
Lusa - Business News - Portugal: Demolition at Porto former slaughterhouse site 'practically complete'
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Lusa - Business News - Mozambique: Country's gas reserves to contribute to world energy transition
Accra, Ghana,May.26,2022(Lusa)– The government of Mozambique believes that the country's reserves of over 180 trillion cubic feet of natural gas...
Lusa - Business News - Portugal: Lisbon metro staff on another partial strike on Friday morning
Lisbon, May.26,2022 (Lusa) – Lisbon Metro (ML) workers will go on another partial strike on Friday, between 05:00 and 09:00,...
Lusa - Business News - Portugal: Fruit growers dispute study finding dangerous pesticides in apples, pears
Armamar, Portugal,May.26,2022(Lusa)- The Armamar fruit growers association (AFA) has contested the study by the "PAN Europa" network of non-governmental organisations...
CNA - Economic sentiment improves slightly in May as a result of stronger business confidence in services
Economic sentiment in Cyprus improved slightly this May as the Economic Sentiment Indicator(ESI-CypERC) increased by 1.1 points compared with April...
Lusa - Business News - Timor-Leste: China foreign minister begins Pacific tour, setting off alarm bells
Beijing,May.26,2022(Lusa)- China's foreign minister arrived on Thursday in the Solomon Islands, at the beginning of a tour of eight countries...
Lusa - Business News - Portugal: State authorises Chelsea FC sale, proceeds for humanitarian purposes
Lisbon, May.26,2022 (Lusa) - The Portuguese government has given permission for the sale of Chelsea Football Club by Romam Abramovich,...
CNA - الرئيس اناستاسياديس يجتمع مع رئيسة الجمعية البرلمانية لمنظمة الأمن والتعاون في أوروبا
يستقبل رئيس الجمهورية نيكوس أناستاسياديس اليوم الخميس مارجريتا سيدرفيلت رئيسة الجمعية البرلمانية لمنظمة الأمن والتعاون في أوروبا، الموجودة في قبرص للمشاركة في مؤتمر دولي حول مكافحة الفساد. ...
CNA - الرئيس أناستاسياديس يترأس اجتماع "الصحة للجميع" في القصر الرئاسي
يترأس رئيس الجمهورية نيكوس أناستاسياديس اليوم الخميس اجتماع "الصحة للجميع" في القصر الرئاسي بمشاركة وزير الصحة ميخاليس حاجيبانتيلاس ووزير النقل يانيس كاروسوس ووزير الدولة للبحث والابتكار والسياسة الرقمية كيرياكوس كوكينوس،...
Lusa - Business News - Portugal: Stock market opens with benchmark PSI index up 0.52%
Lisbon, May 26, 2022 (Lusa) – The Lisbon Stock Exchange opened on Thursday in positive territory, with the PSI index...
Lusa - Business News - Portugal: Top newspaper, news magazine headlines on Thursday
Lisbon, May.26,2022(Lusa)–The massacre in Texas and the leadership race in Portugal's PSD social democrat party are the most frequent headlines...
Lusa - Business News - Mozambique: Audit shows reservations about Banco de Moçambique 2019 accounts




Maputo, Jan. 19,2022 (Lusa) - An audit has expressed reservations about the 2019 financial statements of the Banco de Mozambique, despite it having recalculated figures from the previous year (2018) that raised doubts, according to the annual report of the financial institution.
"Due to the fact that the predecessor auditor issued an adverse opinion on the financial statements for the previous year, we are unable to ensure the completeness, existence and accuracy of the opening balances," reads the opinion of the independent auditor BDO, signed on 31 December 2021 and included in the financial statements available since Tuesday on the central bank's website.
Without that information on the opening balances, the auditor says information on "the impact on closing balances as of 31 December 2019" is also compromised.
"This situation constitutes a limitation to the scope of our work," he added.
At issue is the fact that in 2017 and 2018 the Banco de Mozambique (BM) did not consider the accounts of its subsidiary Kuhanha - Sociedade Gestora do Fundo de Pensões dos trabalhadores do banco central, which acquired a majority stake in Moza Banco, one of Mozambique's main commercial banks.
The purchase generated public discussion as to its compatibility with the role of the regulator, at the same time as audit firm KPMG completed two consecutive annual audits issuing an "adverse opinion".
"The consolidation of Kuhanha would give rise to material impacts on many elements of the financial statements" of the BM, so the accounts did not reflect reality, it justified.
The situation is now addressed in the 2019 financial statements with the tables including a column titled "2018 restatement" where the figures for that year are recalculated.
But the central bank justifies the new calculations with another added factor: corrections in transactions with gold and currencies of other countries.
"The restatement aims to accommodate the change in accounting policy, in which the bank began to consolidate its subsidiary Kuhanha, as well as the correction of the accounting classification of the result of operations in foreign currency and gold," justifies the management.
As such, the central bank went in 2018 from a positive result of 1.4 billion meticais (€19.6 million) to a now rewritten one representing a loss of 12.4 billion meticais (€173.6 million).
The main difference in the column of the new 2018 calculations is in the "results from foreign currency and gold operations", which instead of generating 18.7 billion meticais (€261.8 million), have fallen to 4.8 billion meticais (€67.2 million).
In 2019, the negative balance for the year has been reduced to 4.8 billion meticais (€67.2 million), this being the most recent net result approved by the central bank.
With the "restatement" of the 2018 figures, total equity reached negative amounts: it went from 9.3 billion meticais (€130.2 million) to a negative 4.5 billion meticais (negative €63 million).
In 2019, total equity came back to the fore with a positive value of 2.3 billion meticais (€32.2 million).
Kuhanha tops the list of debtors to the BM (after credits and advances granted to the government), with a total of four billion meticais (€56 million) relating to "a supply contract concluded between the parties", whose repayment "will be made through dividends or sale of shares relating to its financial participation", it states, without further details.
The central bank's pension fund has 59.4% of Moza Banco after in June 2017 it became part of the shareholder structure via an injection of 8.1 billion meticals - an injection as part of the bank's recapitalisation process, which made it possible to restore levels of prudential ratios and led to the regulator (Bank of Mozambique) to extinguish extraordinary reorganisation measures.
In another reservation note regarding the 2019 accounts of the BM, the auditor said that the state did not assume the equivalent of 528 million euros of debts to the central bank related to exchange rate fluctuations since 2005, as well as the financial institution, did not recognise associated revenues of around 137 million euros.
LFO/ADB // ADB.
Lusa


Agency : LUSA

Date : 2022-01-20 10:27:00







 

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