The Portuguese Mozambique Company ( port of Companhia de Moçambique ) is a royal company operating in the Portuguese Mozambique and controlling the land that corresponded to the current provinces of Manica and Sofala in central Mozambique.
| Portuguese Mozambique company | |
|---|---|
 | |
| Base | February 11, 1891 |
| Abolished | 1972 |
| Location | Beira , Mozambique |
| Key figures | Manuel Rafael Gorjau Enriques |
| Industry | international trade |
History
The company was founded on February 11, 1891 and had a starting capital of approximately $ 5 million received from financiers from Germany, Great Britain and South Africa. According to other sources, the company had a capital of £ 40,000, dominated by English and French capital [1] .
The concession was granted for a period of 50 years, during which the company could not only use natural resources and local labor (including through forced labor), but also provide subconcessions. The company received the exclusive right to collect taxes from the entrusted lands, and itself was exempted from paying taxes for 25 years. In return, the Portuguese state received 7.5% of the company's profits and 10% of the shares. In addition, the company was supposed to equip 1,000 Portuguese families in Africa and provide education and public administration on its territory.
In practice, the company was only able to partially use the privileges it received, but this was offset by the fact that it was also actually relieved of most responsibilities. With only limited capital, the company did not do much to develop the area, removing most of its income from taxation. Active use of forced labor led to revolts against the company in 1902 and 1917. Despite the company's commitment to ensure the rule of law and order, it was not able to do this, and the Portuguese government had to pay for expensive events.
The company had headquarters in Beira , where it exercised state administration and was in charge of post offices. The company also founded a private bank, Banco-da-Beira.
Due to inefficiency, the regime of Antoniu Salazar did not extend the concession in 1942 . The governor of Manika and Sofala commented on this:
They did nothing to develop the potential wealth of the entire region, preferring to rob it and oppress the local people [2]
On July 18, 1942, the territory of Manica and Sofala was transferred to the Portuguese colonial authorities, and the Mozambique company continued to work in agriculture and the commercial sector. On October 20, 1961, the Mozambique company became a private enterprise, which later turned into a holding .
Notes
- ↑ Allen Isaacman and Barbara Isaacman, Mozambique: From Colonialism to Revolution, 1900-1982. 1983, Boulder, Colorado, USA., Westview. p.36.
- ↑ Allen Isaacman and Barbara Isaacman, Mozambique: From Colonialism to Revolution, 1900-1982. 1983, Boulder, Colorado, USA., Westview. p.37.