Maputo -- Today, Sasol committed to donate US$ 250,000, approximately 15 million meticais
, for the relief and support of communities that have been severely affected by tropical Cyclone Idai in Beira and Dondo in Sofala province, as well as other impacted areas in Inhambane province.
"Sixteen accommodation centres have been opened in the provinces of Zambezia and Tete to accommodate the displaced," Comoana stated, adding, "The government needs 1.1 billion meticais
($16m) to assist 80,000 families affected by the rains."
I was released when my family paid 14,000 meticais
(about $240) to the police," he said, holding a pickaxe in one hand.
The students mostly expect to be employed in less than six months, and the average expected wage is 26,500 Meticais
per month, which is 2.5 times higher than the highest statutory minimum wage, found in the financial sector.
Tuition fees ranged from 600 Meticais
per month for a basico degree (~$10), (31) to 800-1,000 Meticais
per month for a medio (~$16), to 1,500-3,000 Meticais
per month for a BA (~$25-$50), and $1,000 per year for the master's degree course.
These, for the most part, are young Malawian men looking for wages paid in Mozambican meticais
, which are competitive once converted to Malawian makwacha.
This is always another important question frequently asked -- "If I'm compelled to receive in kwanzas (Angola), meticais
(Mozambique) or naira (Nigeria), how can I pay my employees, my suppliers, my subcontractors in euros?" Investors must consider all these issues in their business plan.
A bale was worth around 2000 Meticais
(the Mozambican currency), which was about South African R600.
New foreign currency regulations adopted in 2011, aimed in part at restricting transactions at these foreign exchange houses, are intended to reduce money laundering by requiring customers with foreign currency accounts at local banks to change that foreign currency into meticais
, the local currency, rather than receiving foreign currency for domestic use.
Pillay and Mahlati (2008) tell a story of a nurse in Mozambique by quoting her as saying that: "I make 3 000 000 meticais
[$US115] a month.
As of November 2009, the floating exchange rate was approximately 29.1 meticais