The Mozambique Company (
Portuguese
Portuguese may refer to:
* anything of, from, or related to the country and nation of Portugal
** Portuguese cuisine, traditional foods
** Portuguese language, a Romance language
*** Portuguese dialects, variants of the Portuguese language
** Portu ...
: ''Companhia de Moçambique'') was a royal company operating in
Portuguese Mozambique
Portuguese Mozambique ( pt, Moçambique) or Portuguese East Africa (''África Oriental Portuguesa'') were the common terms by which Mozambique was designated during the period in which it was a Portuguese Empire, Portuguese colony. Portuguese Moz ...
that had the concession of the lands in the Portuguese colony corresponding to the present provinces of
Manica and
Sofala
Sofala, at present known as Nova Sofala, used to be the chief seaport of the Mwenemutapa Kingdom, whose capital was at Mount Fura. It is located on the Sofala Bank in Sofala Province of Mozambique. It was founded by Somali merchants. This name wa ...
in central Mozambique.
The company was established the 11 February 1891 with a capital stock of about 5 million dollars obtained from financiers from
Germany
Germany,, officially the Federal Republic of Germany, is a country in Central Europe. It is the second most populous country in Europe after Russia, and the most populous member state of the European Union. Germany is situated betwe ...
, the
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and North ...
and
South Africa
South Africa, officially the Republic of South Africa (RSA), is the southernmost country in Africa. It is bounded to the south by of coastline that stretch along the South Atlantic and Indian Oceans; to the north by the neighbouring countri ...
. Isaacman and Isaacman report that the firm was capitalised at 40,000 pounds, and that British and French capital quickly predominated.
The concession was granted for a period of 50 years, during which the company could not only exploit the resources and existing manpower (partly through the ''
chibalo
Chibalo was the system of debt bondage or forced labour in the ''Ultramar Português'' (the Portuguese overseas provinces in Africa and Asia), most notably in Portuguese Angola and Portuguese Mozambique (unlike most other European overseas posses ...
'' system of forced labour) but also grant subconcessions. The company was granted the exclusive right to collect
tax
A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity) by a governmental organization in order to fund government spending and various public expenditures (regional, local, or n ...
es, but was itself granted a 25-year tax exemption. In return the Portuguese state would receive 7.5% of the company's profits and 10% of the sold shares. The company was also required to settle 1,000 Portuguese families and provide education and public administration in its territory.
In practice, the company made only partial use of the prerogatives with which it had been bestowed; but this was balanced by the fact that it also met very few of its obligations. Having only limited capital, the company did little to develop the area, deriving most of its income from its ability to tax and its power to use conscripted labour on its plantations and for lease to adjacent estates. Resistance to the forced labour regime was a major cause of rebellions against the company which occurred in 1902 and 1917. Despite the company's obligation under its charter to provide forces to maintain law and order, it was unable to meet these crises, and on both occasions Portugal had to mount expensive interventions.
The Mozambique Company had its headquarters in
Beira, where it controlled the
public administration
Public Administration (a form of governance) or Public Policy and Administration (an academic discipline) is the implementation of public policy, administration of government establishment (public governance), management of non-profit establ ...
and the
post office
A post office is a public facility and a retailer that provides mail services, such as accepting letters and parcels, providing post office boxes, and selling postage stamps, packaging, and stationery. Post offices may offer additional serv ...
s. The company also founded a private bank, the Banco da Beira, which issued
currency
A currency, "in circulation", from la, currens, -entis, literally meaning "running" or "traversing" is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins.
A more general def ...
in pounds.
Because of its bad performance and because of the shift, under the
Salazar regime
The ''Estado Novo'' (, lit. "New State") was the Corporate statism, corporatist Portugal, Portuguese state installed in 1933. It evolved from the ''Ditadura Nacional'' ("National Dictatorship") formed after the 28 May 1926 coup d'état, ''cou ...
, towards Portuguese control and away from international control of the economy, the company's concession was not renewed when it ran out in 1942. The Governor of Manica and Sofala commented:
They did nothing to develop the potential wealth of this entire region, preferring to plunder it and alienate the natives.
[Arquivo do Instituto de Algodao (A.I.A.), Junta de Exportacado de Algodao Colonial (J.E.A.C.): "Provincia de Mancia e Sofala," Joao Contreiras, O Inspector de JEAC, May 1945; in Allen Isaacman and Barbara Isaacman, ''Mozambique: From Colonialism to Revolution, 1900-1982''. 1983, Boulder, Colorado, USA., Westview. p.37.
]
On 18 July 1942, the territory of Manica and Sofala passed to the Portuguese colonial authorities and the Mozambique Company continued to operate in the agricultural and commercial sectors.
On 20 October 1961, The Mozambique Company became the Grupo Entreposto Comercial de Moçambique, which transformed itself into a holding on 6 September 1972, with the participation of capital from other companies, including Entreposto-Gestão e Participações (SGPS) SA.
In 1939 the President of Portugal awarded the
Grand Cross of the Order of the Colonial Empire to the company, the first time it had been awarded to a company.
See also
*
Nyassa Company
The Niassa Company or Nyassa Chartered Company () was a royal company in the Portuguese colony of Mozambique, then known as Portuguese East Africa, that had the concession of the lands that include the present provinces of Cabo Delgado and Nia ...
- a similar company which operated in northern Mozambique
*
Company of Guinea
A company, abbreviated as co., is a legal entity representing an association of people, whether natural, legal or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared go ...
*
Portuguese Empire
The Portuguese Empire ( pt, Império Português), also known as the Portuguese Overseas (''Ultramar Português'') or the Portuguese Colonial Empire (''Império Colonial Português''), was composed of the overseas colonies, factories, and the l ...
*
References
External links
http://www.filatelia.fi/articles/mozambique.html
{{Authority control
History of Mozambique
Portuguese colonisation in Africa
Chartered companies
Defunct companies of Portugal
Companies established in 1891
Portuguese Mozambique
1891 establishments in Portugal
1972 disestablishments in Portugal
Companies disestablished in 1972
Beira, Mozambique