Companhia de Moçambique

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The Companhia de Moçambique , German: Mozambique Society , was a royal society in the Portuguese colony of Mozambique , which was licensed in the area of ​​the present-day provinces of Manica and Sofala .

The company was established in February 1891 with equity capital of £ 40,000 , or nearly $ 5 million , from donors from Germany , the United Kingdom and South Africa . Soon British and French capital dominated.

The concession was granted for a period of 50 years, during which the company could take advantage of local resources and manpower. The company was granted the exclusive right to collect taxes and was granted 25 years of tax exemption. In return, the Portuguese state should receive 7.5% of the profits and 10% of the shares issued. In addition, the company should settle 1000 Portuguese families and provide education and public administration in their area.

In fact, society made only partial use of the rights granted to it and, in turn, only fulfilled a fraction of its obligations. With its limited capital resources, it could do little for the development of the area and gained the greatest benefit from utilizing the labor on the plantations and lands. Resistance to tightened work obligations and regulations was a cause of rebellions in 1902 and 1917. Society failed to meet its obligations to maintain peace and order, and in both cases Portugal had to launch expensive interventions.

The Companhia de Moçambique had its headquarters in Beira , where it controlled the public administration and the post offices. She also set up a private bank that issued shares in pounds.

Due to the lack of success and a change in the Salazar regime , the license was not renewed when it expired in 1942. The governor of Manica and Sofala commented:

"They did nothing to develop the potential wealth of this entire region and preferred to plunder it and alienate the natives."

On July 8, 1942, the Manica and Sofala area became the responsibility of the Portuguese colonial authorities, while the Companhia, now under the name SARL, continued its activities in the agricultural and commercial sector.

On October 20, 1961, it became the Grupo Entreposto Comercial de Moçambique and on September 6, 1972 it was transformed into a holding company with equity capital from other companies such as Entreposto-Gestão e Participações (SGPS) SA .

See also

literature

  • Allen Isaacman and Barbara Isaacman, Mozambique: From Colonialism to Revolution, 1900–1982. 1983, Boulder, Colorado, USA., Westview. p.36.
  • Arquivo do Instituto de Algodao (AIA), Junta de Exportacão de Algodao Colonial (JEAC): “Provincia de Mancia e Sofala”, Joao Contreiras, inspector of JEAC, May 1945; in Allen Isaacman and Barbara Isaacman, Mozambique: From Colonialism to Revolution, 1900–1982. 1983, Boulder, Colorado, USA., Westview. p.37.

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