Mozambican state revenues derived from large-scale mining, hydrocarbon, and metallurgical megaprojects plummeted by nearly 41% in 2025, falling to 11.680 billion meticais (approximately 157 million euros), according to official government data.
The figures—which exclude dividends from state concessions—were detailed in the General State Account (CGE). Approved by the government and reviewed today by Lusa before heading to parliament, this performance marks a sharp decline from the 19.652 billion meticais (264.5 million euros) these enterprises contributed in fiscal year 2024.
A breakdown of the 2025 revenue reveals the following tax contributions from these major enterprises:
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Corporate Income Tax (IRPC): 4.902 billion meticais (66 million euros)
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Personal Income Tax (IRPS): 2.639 billion meticais (35.5 million euros)
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Other Taxes (VAT, Royalties, etc.): 4.137 billion meticais (55.7 million euros)
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The executive branch emphasized in the report that the overall socioeconomic impact of these Large-Scale Projects (PGD) and Corporate Concessions (CE) depends heavily on their links to the broader economy. This includes production chains, technological transfers, job creation, and their capacity to generate foreign currency reserves.
Despite the steep drop in tax revenue, the financial performance of the sector actually showed signs of structural recovery. The government noted that the megaprojects registered a combined global loss of 12.199 billion meticais (164.2 million euros) in 2025.
While still in the red, this represents a significant 65.61% improvement compared to 2024, when total losses reached a staggering 35.468 billion meticais (477.4 million euros).
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The negative year-end balance sheet was heavily driven by major losses from the Mozal aluminum project, Vulcan coal mining, and the Rovuboè Mines, which together bled 49.587 billion meticais (667.4 million euros).
These steep deficits completely wiped out the combined profits generated by Sasol, Moma Heavy Sands, Midwest Africa, and Ncondezi, which totalled 37.388 billion meticais (503.2 million euros).
