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Mozambique Company.
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The Mozambique Company (Portuguese: Companhia de Moçambique) was a royal company operating in Portuguese Mozambique that had the concession of the lands in the Portuguese colony corresponding to the present provinces of Manica and Sofala 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, the United Kingdom and South Africa. The concession was granted for a period of 50 years, during which the company could not only exploit the resources and existing manpower but also grant subconcessions. The company was granted the exclusive right to collect taxes, 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. Because of its bad performance and because of the shift, under the Salazar regime, towards Portuguese control and away from international control of the economy, the company's concession was not renewed when it ran out in 1942. 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. Currency : Portuguese ecsudo .
