RepOblica de Mogambique Fundo de Estradas (FE)documents.worldbank.org/curated/en/...FUNDO DE...

RepOblica de Mogambique

Fundo de Estradas (FE)

Financial Statements

For the year ended 31 December 2018

FUNDO DE ESTRADAS

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FUNDO DE ESTRADASAGGREGATED FINANCIAL STATEMENTS31 December 2018

INDEX PAGES

Statement of management responsibilities 1

Independent Auditor's Report 2

Aggregated Road Sector Accounts - Balance Sheet 5

Aggregated Road Sector Accounts - Income Statement 6

Road Fund Accounts - Balance Sheet 7

Road Fund Accounts - Income Statement 8

ANE Accounts - Balance Sheet 9

ANE Accounts - Income Statement 10

Provinces Accounts (ANE and Road Fund Delegations) - Balance Sheet 11

Provinces Accounts (ANE and Road Fund Delegations) - Income Statement 12

Municipalities Accounts - Balance Sheet 13

Municipalities Accounts - Income Statement 14

Districts Accounts - Balance Sheet 15

Districts Accounts - Income Statement 16

Office of Zambeze Bridge Project Accounts - Balance Sheet 17

GNPT - Office of New Bridge of Tete Accounts - Balance Sheet 18

GNPT - Office of New Bridge of Tete Accounts - Income Statement 19

Road Fund Operating - Balance Sheet 20

Notes to the Financial Statements 21

STATEMENT OF MANAGEMENT RESPONSIBILITIES

The directors are responsible for the preparation of the financial statements that present fairly theaggregated financial statements of Fundo de Estradas, comprising the balance sheet as at 31 December2018 and the statement of income and expenditure for the year then ended, and the notes to the financialstatements, which include a summary of significant accounting policies and other explanatory notes, inaccordance with the modified cash receipts and disbursements basis of accounting disclosed in Note 2.

The financial statements have been audited by the independent accounting firm, Deloitte & Touche(Moyambique), Lda, which were given unrestricted access to to all financial records and related data. Thedirectors believe that all representations made to the independent auditors during their audit were validand appropriate. The report of the independent auditors is presented on pages 2 and 4.

The financial statements for the year ended 31 December 2018 presented on pages 5 to 73 have been

prepared in accordance with the basis of accounting described in the Notes to the financial statements.

They are based on appropriate accounting policies which have been consistently applied, and which are

supported by reasonable and prudent judgements and estimates. The going concern basis has been

adopted in preparing the financial statements. The management have no reason to believe that Fundo de

Estradas will not be a going concern in the foreseeable future based on forecasts and available cash

resources.

The Directors' are also responsible for Fundo de Estrada's system of internal controls. These are

designed to provide reasonable but not absolute assurance as to the reliability of the financial statementsand to adequately safeguard, verify and maintain accountability of assets. These controls are monitored

throughout the Entity by the Directors and employees with the necessary segregation of authority andduties. Processes are in place to monitor internal controls, to identify material breakdowns and implementtimely corrective action.

The aggregated financial statements of Fundo de Estradas, as identified in the first paragraph, were

approved by the Board of Di(ectors on 30,April2019,and are signed on its behalf by:

Prof. An ilo Mac acua Jo MutombeneChief Executive icer rHead of Finance Directorate

Cain Postal 4318 Delottte & Touch eMaputo (Mogamnbique) LdaMoqambique Chartered Accountants and

Management consultantsRegistration No: 5917Rue dos Desportlstas, 833Predio JAT V-1 3 Andar

Tel +258 21320955Tel: +258 21430594Tel: +258 [email protected]

(FREE TRANSLATION FROM THE PORTUGUESE VERSION)INDEPENDENT AUDITOR'S REPORT

To the Shareholders of

FUNDO DE ESTRADAS

Report on the Audit of the Financial Statements

Opinion

We have audited the aggregated financial statements of Fundo de Estradas, which comprise thebalance sheet as at 31 December 2018, and the statement of income and expenditure for the yearthen ended, and notes to the financial statements, including a summary of significant accountingpolicies and other explanatory notes, as set out on pages 5 to 74. The financial statements havebeen prepared by the management of Fundo de Estradas for the purpose of providing financialinformation to the financiers.

In our opinion, the aggregated financial statements, present fairly, in all material respects and interms of the agreement with the financiers, the financial position of the Fundo de Estradas as at 31December 2018, and the statement of income and expenditures for the year then ended inaccordance with the basis of accounting set in note 2 to the financial statements.

Basis for Opinion

We conducted our audit in accordance with International Audit Standards (ISAs), issued by IAASB.Our responsibilities under those standards are further described in the Auditor's Responsibilities forthe Audit of the Financial Statements section of our report. We are independent of the Fundo deEstradas in accordance with the ethical requirements that are relevant to our audit of the financialstatements in terms of the code of ethics issued by the Order of Accountants and Auditors ofMogambique ("OCAM"), which comply with the Code of Ethics issued by the Ethics Standards Boardfor Accountants (IESBA), and we have fulfilled our other ethical responsibilities in accordance withthese requirements. We believe that the audit evidence we have obtained is sufficient andappropriate to provide a basis for our opinion.

Other Matters

We confirm, within the scope of our audit, that the transactions were made in accordance with thecontracts, agreements and relevant legislation.

Responsibilities of the Board of Directors for the Financial Statements

The Board of Directors is responsible for the preparation of financfal statements that give a true andfair view in accordance with basis of accounting set out in note 2, and for such internal control as theBoard of Directors determines is necessary to enable the preparation of financial statements that arefree from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Board of Directors is responsible for assessing the Fundode Estradas's ability to continue as a going concern, disclosing, as applicable, matters related togoing concern and using the going concern basis of accounting unless management either intendsto liquidate the Fundo de Estradas or to cease operations, or has no realistic alternative but to do so.

The Board of Directors is, also, responsible for overseeing the Fundo de Estrada's financial reportingprocess.

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a wholeare free from material misstatement, whether due to fraud or error, and to issue an auditor's reportthat includes our opinion. Reasonable assurance is a high level of assurance, but is not a guaranteethat an audit conducted in accordance with ISAs will always detect a material misstatement when itexists. Misstatements can arise from fraud or error and are considered material if, individually ortaken together, they could reasonably be expected to influence the economic decisions of userstaken on the basis of these financial statements.

As part of an audit in accordance with ISAs, we exercise professional judgment and maintainprofessional skepticism throughout the audit We also:

* Identify and assess the risks of material misstatement of the financial statements, whether dueto fraud or error, design and perform audit procedures responsive to those risks, and obtainaudit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk ofnot detecting a material misstatement resulting from fraud is higher than for one resulting fromerror, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or theoverride of internal control.

* Obtain an understanding of internal control relevant to the audit in order to design auditprocedures that are appropriate in the circumstances, but not for the purpose of expressingan opinion on the effectiveness of the Company's internal control.

* Evaluate the appropriateness of accounting policies used and the reasonableness ofaccounting estimates and related disclosures made by the Board of Directors.

o Conclude on the appropriateness of the Board of Directors' use of the going concern basis ofaccounting and, based on the audit evidence obtained. whether a material uncertainty existsrelated to events or conditions that may cast significant doubt on the Company's ability tocontinue as a going concern. If we conclude that a material uncertainty exists, we are requiredto draw attention in our auditor's report to the related disclosures in the financial statementsor, if such disclosures are inadequate, to modify our opinion. Our conclusions are based onthe audit evidence obtained up to the date of our auditor's report. However, future events orconditions may cause the Fundo de Estradas to cease to continue as a going concern.

* Evaluate the overall presentation, structure and content of the financial statements, includingthe disclosures, and whether the financial statements represent the underlying transactionsand events in a manner that achieves fair presentation.

32

We communicate with the Board of Directors regarding, among other matters, the planned scopeand timing of the audit and significant audit findings, including any significant deficiencies in internalcontrol that we identify during our audit.

The engagement partner on the audit resulting in this independent auditor's report is AneliyaNikolova.

Deloitte & Touche (Mogambique), LdaCertified Auditors n. ' 56/CA/OCAM/2014Represented by Aneliya NikolovaPartnerCertified Auditor n. V 56/CA/OCAM/201430 June 2019

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FUNDO DE ESTRADASAGGREGATED ROAD SECTOR ACCOUNTSBALANCE SHEET AS AT 31 DECEMBER 2018(Amounts expressed in Meticais)

Notes 2018 2017

Assets 17 376 639 072 11 952 509 079Cash 3.1 5851 500 10029672Bank 3.2 2 182 815 934 4025418605Receivables 4 15 187 971 638 7917060802

Total Assets 16 972 625 772 11 952 509 079

Liabilities 14 255 676 835 6 639 961 834Bank Borrowings 5 4 377 357 456 4 467 383 991Short Term Payables 6 9 878 319 379 2 172 577 843

Equity 2120962239 5312547245Opening Balance 26 5 312 547 245 (965 305 954)Previous Year Adjustments 7 (71 238 490) (68 187 897)Deficit)/ Surplus Pag.6 (2 120 346 517) 6 346 041 096

Total Equity and Liabilities 17 376 639 072 11 952 509 079

5

FUNDO DE ESTRADASAGGREGATED ROAD SECTOR ACCOUNTSSTATEMENTS OF INCOME AND EXPENDITURE FOR THE YEAR ENDED AT 31 DECEMBER2018(Amounts expressed in Meticais)

Notes 2018 2017

Revenue 18 097 602 115 22 207 620 573Government Investment Funds 9 975083939 714588225Border Taxes 10 570435251 601 231 090Fuel Levy 11 3663192499 3841 967028Grants 12 11 537 344 402 12 512 885 275Tender Income - 302233171 8446907Bank Interest Income 13 3748942 8702885Bridge Tolls 14 82718030 69259120Exchange Rate Gain 26 161 935 721 2 445 799Other Income 16 800910161 4448094244Expenditures 20 217 948 632 15 861 780 753

Administrative Expenses 1555114516 2206426508Road Fund Headquarter 17 619 756 536 1 529 039 645Road Fund Operation Pag 21 175 471 442 -ANE(Administrative Directorate) 18 280 121 677 261 590 455ANE Delegations 19 345 630 836 293 189 674Road fund Delegations 19 60630 027 83288289GNPT 21 59703199 20755604Municipalities - South Region 22 42 287 192 041Municipalities - Central Region 23 101 140 77820Municipalities - North Region 24 742613 182661Districts 27 12914758 18 110319

Capital Expenditures 18 245 401 344 13 038 245 648Road Fund Headquarter - 15 079 248 777 10 243 139 840Road Fund Operation Pag 21 5339682 -ANE (Administrative Directorate) 18 11 250 874 41 534 902ANE (Delegation) 19 11 730 833 619 123Road Fund Delegations 19 2414967725 2162103253GNPT 21 212 100 -Municipalities - South Region 22 160 696 234 169 970 619Municipalities - Central Region 23 117 801 258 94 949 104Municipalities - North Region 24 138 002 095 95 316 744Districts 27 306 151 767 230 612 063Funds Allocations - Empresa de a) 193642788 5000000Desenvolvimento Maputo Sul, EPRounding Differences - 701

Exchange Rate Loss 16 65443589 562107858

Other Expenses 29 158346395 38

(Deficit)/Surplus (2 120 346 517) 6345839820

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FUNDO DE ESTRADASROAD FUND ACCOUNTSBALANCE SHEET AS AT 31 DECEMBER 2018(Amounts expressed in Meticais)

Notes 2018 2017

Assets 15 722 847 070 11 136 326 499Cash 31 4913868 8 4b4 776Bank 32 1890659561 3764911466Receivables 4 13 827 273 642 7363010257

Total Assets 15 722 847 070 11 136 326 499

Liabilities 13 035 115 070 6414729006Bank Borrowings 5 4377357493 4 467 383 991Short Term Payables 6 8657 758 416 1 947345015

Equity 2687731199 4721597493Opening Balance 4 721 597 493 (1 478 916 094)Previous Year Adjustment 7 (13351 212) (52102741)

Deficit/Surplus (2 020 515 082) 6252616328

Total Equity and Liabilities 15 722 847 071 11 136 326 499

7

FUNDO DE ESTRADASROAD FUND ACCOUNTSSTATEMENTS OF INCOME AND EXPENDITURE FOR THE YEAR ENDED AT 31 DECEMBER2018(Amounts expressed in Meticais)

Notes 2018 2017

Revenue 17 323 057 562 22 193 081 215Government Investment Funds 9 975 083 939 714 588 225Border Taxes 10 570 435 251 601 231 090Fuel Levy 11 3663192499 3841 967028Bridge Tolls 14 82718030 69259120Grants 11 11 537 344 402 12 512 885 275Exchange Rate Gains 24 161 704 763 2 445 799Bank Interest Income 13 3702072 8468166Other Income 16 328876606 4 442 236 512

Expenditure 19 343 572 644 15 940 464 887

Administrative expenses 444 285 094 261 779 798Administrative Expenses 17 444285094 261 779798

Capital expenditure 14 494 049 649 11 510399689Housing - 887 750Bridge Construction 386 179 912 550 371 881Roads Construction 608 867 797 483 685 913Roads Maintenance 2 077 510 103 312 195 270Roads Rehabilitation 5 419 457 950 8 100 093 543Emergency 5 858 363 949 771 744 985Road Safety 65976517 2911253Machinery and Equipment 6 273 620 21 249 246Finance cost 71 419 801 1 267 259 848

Funds Allocations 4182643562 3617289035ANE Delegations 19 356774602 295496484ANE Administrative Directorate 18 295 640 831 297 159 000Road Fund Delegations 19 2 869 916 041 2 577 598 715Municipalities - South Region 22 158 145 500 157 755 700Municipalities - Central Region 23 121 177600 96729400Municipalities - North Region 24 124 690 200 116 401 780Maputo Sul a) 193642788 55000000GNPT 20 62656000 21 147255Rounding Difference - 701

Other Expenses 29 157 323 749 -Exchange Rate Loss 15 65 270 590 550 996 365(Deficit)/Surplus (2 020 515 082) 6252616328

a) Amount allocated to the Maputo Development Company for resettlement under the Maputo-Katembe

FUNDO DE ESTRADASANE ACCOUNTSBALANCE SHEET AS AT 31 DECEMBER 2018(Amounts expressed in Meticais)

Note 2018 2017

Assets 151 610785 143832830Bank 18 145632992 140 028 886Receivables 18 5 977 793 3 803 944

Liabilities 2 797 339 434 306Short Term Payables 18 2 797 339 434306

Equity 148 813 446 143 398 524Opening Balance 18 143398524 157897535Surplus/(Deficit) 18 5414922 (14 499011)

Total Equity and liabilities 151 610 785 143 832 829

FUNDO DE ESTRADASANE ACCOUNTSSTATEMENTS OF INCOME AND EXPENDITURE FOR THE YEAR ENDED AT 31 DECEMBER2018(Amounts expressed in Meticais)

Notes 2018 2017

Revenue 297 983 095 300 315 544

Transfers from Road Fund - State Budget 18 295640831 297159000

Income from Public Tenders 18 575 530 1 646 790Other Income 18 1 535777 1509754Exchange Rate Gains 18 230 958 -

Expenditure 292568173 314236849Administrative Expenses 18 280 121 677 261 590 455Capital Expenditure 18 11 250874 41 534902Other Expenditures 18 1 022623 -Exchange Rate Loss 15 172999 11 111 492

(Deficit) (5414922) (13921 305)

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UNDO DE ESTRADASPROVINCES ACCOUNTS (ANE & ROAD FUND DELEGATIONS)BALANCE SHEET AS AT 31 DECEMBER 2018(Amounts expressed in Meticais)

Notes 2018 2017ANE & FE ANE & FEProvinces Provinces

Aggregated Aggregated

Assets 861 418 786 502 087 361Cash 19 937 633 1 624 896Bank 19 73569 717 59443791Receivables 19 786911435 441 018674

Total assets 861 418 786 502 087 361

Liabilities 636 131 567 160 762 280Short Term Payables 19 636 131 567 160762280

Equity 225 287 219 341 325 081Opening Balance 19 341 325082 235018771Previous Year Adjustments 7 (76325923) (4553358)(Deficit)/surplus 19 (39 711 941) 110859668

Total Equity and Liabilities 861 418786 502087361

11

FUNDO DE ESTRADASPROVINCES ACCOUNTS (ANE & ROAD FUND DELEGATIONS)STATEMENTS OF INCOME AND EXPENDITURE FOR THE YEAR ENDED AT 31 DECEMBER2018(Amounts expressed in Meticais)

Notes Provinces ProvincesConsolidated Aggregated

2018 2017

Revenue 3151 956054 2884452630Transfers from Road Fund 19 3 144 334 905 2 873 096 374Tender income 19 3905 504 6800 117Other Income 19 3 668 775 4 345 572Bank interest 19 46869 210566

Expenditure 3191667994 2773592 962Administrative expenses 19 406 260 863 376 477 963Capital expenditure 19 2 426 698 535 2 162 722 375Funds Allocation 358 708 573 234 392 585Other expenses - 24 38

(Deficit)tSurplus (39 711 941) 110 859 668

FUNDO DE ESTRADASMUNICIPALITIES ACCOUNTSBALANCE SHEET AS AT 31 DECEMBER 2018(Amounts expressed in Meticais)

Notes 2018 2017

Assets

Banks 56600484 56105774Southern Region 22 7390076 6563709Central Region 23 34684777 26610116Northern Region 24 14425631 22931949

Receivables 482 871 173 67 900 237Receivables - Southern Region 22 192 268 271 22 776 140Receivables - Central Region 23 150 827 217 28 687 648Receivables - Northern Region 24 139 775 684 16436 449

Total Current Assets 539 371 657 124 006 010

Liabilities 488 634 177 56035864Payables 22/23/24 488634177 56035864

Equity 50737481 67970146Opening Balance 67970146 58293046Previous Year Adjustments 7 5 090 250 (547 448)(Deficit)/ Surplus 22/23/24 (22322915) 10224548

Total Equity and Liabilities 539371 657 124006010

FUNDO DE ESTRADASMUNICIPALITIES ACCOUNTSSTATEMENTS OF INCOME AND EXPENDITURE FOR THE YEAR ENDED AT 31 DECEMBER2018

-* (Amounts expressed in Meticais)

Notes 2018 2017

Revenue 404 023 916 370 913 538

Road Fund Transfers 404 018 300 370 886 980South Region 22 158145500 157755700Central Region 23 121 182600 96729500North Region 24 124690000 116401780

5616 26558Other Income 5616 26558

Expenditure 426 346 831 360 688 990

Administrative Expenses 886041 452522

South Region 22 42287 192041Central Region 23 101 140 77820North Region 24 742613 182661

Capital Expenditure 416 499 586 360 236 467South Region 22 160696234 169970619Central Region 23 117801 258 94949104North Region 24 138002095 95316744

Other Expenses 8 961 204 -

(Deficit)ISurplus (22322915) 10224548

14

FUNDO DE ESTRADASDISTRICTS ACCOUNTSBALANCE SHEET AS AT 31 DECEMBER 2018(Amounts expressed in Meticais)

Notes 2018 2017DISTRICTS DISTRICTS

Aggregated Aggregated

Assets 81 663 617 41 327 691Receivables 27 81 663 617 41 327 691

Total assets 81 663 617 41 327 691

Liabilities 8 682 460 8 000 377Short Term Payables 27 8682 460 8000 377

Equity 72981157 33327315Opening Balance 27 33327314 57863755Previous Year Adjustments 27 (7818) (10406644)

Surplus/(Deficit) 27 39661 661 (14 129 796)

Total Equity and Liabilities 81 663 617 41 327 692

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FUNDO DE ESTRADASDISTRICTS ACCOUNTSSTATEMENTS OF INCOME AND EXPENDITURE FOR THE YEAR ENDED AT 31 DECEMBER2018(Amounts expressed in Meticais)

NotesProvinces Provinces

Consolidated Consolidated2018 2017

Revenue 358 729 573 234 592 585Transfers from Delegations 27 358729573 234 592 585

Expenditure 319067912 248722383Administrative Expenses 27 12914758 18110319Capital Expenditure 27 306 151 767 230 612 063Other Expenses 27 1 387 1

Surplus/(Deficit) 39 661 661 (14 129 797)

FUNDO DE ESTRADASOFFICES OF ZAMBEZE BRIDGE PROJECT ACCOUNTBALANCE SHEET AS AT 31 DECEMBER 2018(Amounts expressed in Meticais)

2018 2017

Assets 1905 1905Cash and Bank 1 905 Z h05Total Assets 1905 1905

Equity 1905 1905Opening Balance 1905 1 905Surplus/(Deficit) -

Total Equity and Liabilities 1905 1905

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FUNDO DE ESTRADASGNPT - OFFICE OF NEW BRIDGE OF TETE ACCOUNTSBALANCE SHEET AS AT 31 DECEMBER 2018(Amounts expressed in Meticais)

Notes 2018 2017

Assets 7 667 483 4 926 782Cash and Bank 21 7 667 483 4 926 782

Total Assets 7667483 4926782

Liabilities - -

Short Term Payables -

Equity 7667483 4929782Opening Balance 21 4926782 4535130Previous Year Adjustment -(Deficit)/Surplus 21 2 740 701 391 652

Total Equity and Liabilities 7 667 483 4 926 782

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FUNDO DE ESTRADASGNPT - OFFICE OF NEW BRIDGE OF TETE ACCOUNTSSTATEMENTS OF INCOME AND EXPENDITURE FOR THE YEAR ENDED AT 31 DECEMBER2018(Amounts expressed in Meticais)

Note 201B 2017

Revenue - 21147255Transfers from Road Fund 21 62 656 000 21 147255

Expenditure 47915299 20755604Administrative Expenses 21 59 703 199 20 755 604Capital Expenditure 21 212 100

(Deficit)lSurplus (2 740 701) 391 652

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FUNDO DE ESTRADASROAD FUND - FUNDO DE FUNCIONAMENTOBALANCE SHEET AS AT 31 DECEMBER 2018(Amounts expressed in Meticais)

Notes 2018 2017

Assets 12057769 -Cash and Bank 3.2 8783792Receivables 4 3273977

Total Assets 12057769

Liabilities 84315420

Short Term Payables 6 84315420

Equity (72 257 651)Opening Balance -Previous Year Adjustments 7 13356212(Deficit/surplus) (85 613 863)

Total Equity and Liabilities 12057769

20

FUNDO DE ESTRADASROAD FUND - FUNDO DE FUNCIONAMENTOGNPT - OFFICE OF NEW BRIDGE OF TETE ACCOUNTSSTATEMENT OF INCOME AND EXPENDITURE FOR THE YEAR ENDED AT 31 DECEMBER 2018(Amounts expressed in Meticais)

Notes 2018 2017

Revenue 95197564 -Transfers from Road Fund 94 990 991Other Income 206 573

Expenditure 180 811 426Administrative Expenses Pag.6 175 471 442Capital Expenditure Pag.6 5339681Other Expenses 303

(Deficit)/Surplus (85 613 863) -

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FUNDO DE ESTRADASNOTES TO THE FINANCIAL STATEMENTS AS AT 31 DECEMBER 2018(Amounts expressed in Melicais)

1. INTRODUCTION

The Road Fund functioning aims to finance the system of roads in Mozambique, namely: construction,rehabilitation and maintenance. The Road Fund received funds from various sources, namely:

Investments Fund.- Own revenue as Border Tax fees, bridge tolls and fuel levy.- Foreign financing (grants and loans). During 2018, the follow grants were occurred:

ADS (African Development Bank) - Montepuez - Lichinga Road Upgrading Project,supplementary Loan to finance the Montepuez-Lichinga, Multinational Nacala RoadCorridor Project- Phase 111, Mueda - Negomane Road Project, Muita - Massangulo RoadProject.DANIDA - (Danish International Development Agency) -- Road Sector Budget support forDistrict roads.

* INDIA Eximbank (The Export-Import Bank of India) - Rehabilitation of Road N280/281between Tica, Buzi and Nova Sofala in Sofala Province.

* IFAD (International Fund for Agricultural Development) - Food Production Action Plan(Pro-Papa) and Rural Markets Promotion Programme in Maputo, Niassa and Cabo DelgadoProvinces - PROMER.

* JICA (Japan International Cooperation Agency)-Montepuez - Lichinga Road UpgradingProject and Multinational Nacala Road Corridor Project - Phase III and Construction Worksof 13 Bridges, between Ile and Cuamba, Mandimba - Lichinga Road Upgranding Project,

* Portuguese Government - Construction and Road Rehabilitation : Macomia - Oasse,Canigado - Chicualacuala, Chimoio -Espungabera and Mocimboa da Praia - Namoto;Construction of the new Tete Bridge, Rehabilitation of N103 e R657 between Magige,Etatara and Cuamba, Rehabilitation of R602 between Magoe - Mucumburra and R601Estima Maroeira.

* UE (European Union) - Milange-Mocuba Road in Zamb6zia Province- Phase I: Upgradingof Milange-Mocuba Road - Phase II; Road Sector Budget Support.

* World Bank - BMMP - APLII (Adaptative Program Lending II).* China EximBank - Beira - Machipanda Rehabilitation Road* OPEC - Road Rehabilitation to Rural Market Access - PROPESCA.* NDF - Nordic Development Fund.

The Road Fund provided funds to the following entities:

- FE Delegations- ANE Headquarters - National Administration of Roads.- ANE Delegations.- Municipalities- Districts- GNPT - Cabinet of Nova Ponte de Tete- Empresa de Desenvolvimento de Maputo Sul, EP

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FUNDO DE ESTRADASNOTES TO THE FINANCIAL STATEMENTS AS AT 31 DECEMBER 2018(Amounts expressed in Meticais)

2. MAIN ACCOUNTING POLICIES

2.1. Basis of Preparation

The financial statements are prepared on the modified cash receipts and disbursements basisof accounting. Under the cash receipts and disbursements basis of accounting, revenue isrecorded when received in cash and expenditures are assigned to the period in which cashpayment is made. This basis of accounting was modified to include accounts receivables(Advance payments made to our Suppliers) and payables (Suppliers Retentions made by us)as at 31 December 2018 and is consistent with the prior year. These financial statements reflectthe aggregated transactions within the Road Sector.

2.2. Functional Currency

The functional currency of Fundo de Estradas is the Metical, which is also the presentationcurrency.

2.3 Foreign Currencies

Transactions in foreign currencies are translated at the rate of exchange ruling at the transactiondate. Monetary assets and liabilities in foreign currencies at the balance sheet date aretranslated at the rates of exchange ruling at the balance sheet date. Any foreign exchangedifferences arising on such translation are recognised in the income statement in the period inwhich they arise.

2.4. Capital Expenditure

Capital assets are expensed on acquisition. However they are controlled through a fixed assetsregister. Expenditure on road maintenance and rehabilitation is not capitalized, since the roadsand the land on which they are built are property of the Government of Mozambique.

2.5. Revenue

Revenue represents the resources originated by normal activity of the Road Fund, such astransit fees and bridge tolls; the support from State Budget and also foreign Grants and Loanssupported by the Mozambican Treasury. Revenue is recognised in the income statement onreceipt of the funds into the entity's bank accounts.

2.6. Expenditure

Expenditure represents operating costs covered by internally generated resources from theRoad Sector as well as Government support, grants and loans.

2.7. Advances to Implementing Agencies

Receivable balances include advances and expenses not yet justified by year-end as well asthe retentions made on the contracts awarded and other transactions within the Road Sectoraccounts.

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FUNDO DE ESTRADASNOTES TO THE FINANCIAL STATEMENTS AS AT 31 DECEMBER 2018(Amounts pressed in Meticais)

3. CASH AND BANK BALANCES:

3.1 Cash

Cash balances are as follows:

Cash on handlRoad Fund 2018 2017

3.1.1 Bridge TollHead Quarters -1 019Rio Zambeze-Cata 76880 416 940Batelao Chire - Caixa 74 700 -Rio Limpopo-Guij6 549520 514160IIha de Mogambique 70 580 75 690Ponte de Lugela 84 010 151 670Rio Save 409 460 530 700Rio Zambeze-Tete -Rio Limpopo-Xai-Xai 2 731 980 2 684 3303.1.2 Border Tax 3997130 4374509Moamba 231 050 309 270Beira - 236 115Machipanda 332 178 429 963Mandimba - 23 320Milange - 23 320Maputo 310 845 -Tete 42 665 3 008 280

916738 40302684913868 8404776

3.1.2 Road Fund and ANETotal RF 182857 870120Total ANEs 754 776 754 776

937 633 1 624 896

Total 5 851 500 10 029 672

3.2 Bank Balances

Banks balances are as follows:

Notes 2018 2017

Bank Road Fund Headquarter 3.2.1 1 890659562 3764911467Bank Road Fund Funcionamento Pag.20 8 783 792 -Bank - Executing Agencies 3.22 283 372 580 260 507 138

2182815934 4025418605

24

FUNDO DE ESTRADASNOTES TO THE FINANCIAL STATEMENTS AS AT 31 DECEMBER 2018(Amounts expressed in Meticas)

3.2.1 Banks - Road Fund Headquarter:

Bank Account No. Currency Amount 2018 2017MZN MZN

BIM 88295318 MZN 89 89 89BIM 995803 MZN - - (219067)BIM 91028681 MZN 83 83 83BIM 13225951 MZN 5802160 5802166 9381268BIM 177581975 MZN 907 213 907213 907213BIM 20099080 USD 7 128 427 693 8 534 860BIM 20441102 USD - - 6683341BIM 21627606 USD 68 4 101 3 922BIM 72136767 USD 28 1 696 1 622BM 4158513001 MZN 199937194 199937194 307877369BM 4201513013 MZN 110018458 10018 458 198879547BM 42986010062 USDD 784629 47077711 56577905BM 4261601007 USD 2193 8 12 131 628693 106909920B M 4 8 6 5 6 0 1 0 0 8 U S D 1 5 6 5 517 9 3 9 3 1 0 4 0 1 4 2 9 7 9 8 8 0BM 48956010002 USD 2695581 161 734 887 -BM 48966010082 USD 5 895 786 365 254 788 1 931 285 730BM 48976010062 USD 2164579 129874718 452459117BM 4260601009 EUR 89499 6264928 6264028BCI 1069619110002 MZN 374838 374838 374838BCI 1198532110001 MZN 29 987 29987 29987BCI 3434110510001 MZN 925001 925001 4218761BCI 1977568210001 MZN 26121698 26121698 32437037BCI 1977568210002 USD 132893 7973584 42016534BCI 528727710002 EUR 31 759 2 223 122 2 222 803BCI 1618222010002 ZAR 412 118 2060592 2503690SB 1131091691052 MZN - -SB 1131091691068 MZN 15174499 15174499 1 932577SB 1010146071065 MZN 208480579 208480579 193533333SB 1131091691079 MZN - - 8559840SB 1131091691001 USD 480439 288272355 124854195SB 1131978241008 EUR 8254 577747 577690SB 1131091697007 EUR - -SB 1131573201001 GBP 60370 4829616 919783Barclays 47191000017 MZN 26321 26 321 28372Mozabanco 237584210001 MZN 1 893 373 1 893 373 7 272 700BCI Term Deposit USD - - 375 000SB Term Deposit MZN 40 000 000 40 000 000 40 000 000SB Term Deposit GBP 483 250 38 660 000 74 527 500TOTAL 1 890 659 562 3764911 467

25


3.2.2 Bank Balances - Executing Agencies

Description 2018 2017

ANE - Delegations Provinces 46 840 085 41 307 620Maputo 3 702 588 269 758Gaza 2296384 2889498Inhambane 2 701 745 1 738 835Sofala 1 891 791 1 017228Manica 570788 130268Zamb6zia 5 220 628 7 451 701Tete 671 790 86 867Nampula 20679616 2237143Cabo Delgado 3616456 3185253Niassa 5 488 298 22 301 068

FE - Delegations Provinces 26 729 633 18 136 172Maputo 2 916 932 893689Gaza 4166064 4333493Inhambane 3244942 416936Sofala 4440050 79341Manica 1 886 845 441 655Zamb6zia 1 703 550 1 251 569Tete 1 359 539 1 024 605Nampula 2001 916 1 080377Cabo Delgado 3 533 117 231 930Niassa 1 476 678 8 382 577

Municipalities 56 500 484 56105774SOUTH REGION 7 390 076 6 563 709CENTRAL REGION 34684777 26610116NORTH REGION 14425631 22931 949

ANE SEDE 145 632 992 140 028 886GPPZ jCash and Bank) 1905 1 905GNPT (Cash and Bank) 7 667 483 4 926 782Total 283 372 580 260 507 139Grand Total 2174032144 4025418605

26


4. RECEIVABLES

Receivable balances include advances mainly to the supplier Estradas do Zambeze, and othertransactions within the Road Sector accounts and are detailed as follows:


Road Fund - Headquarter 13 827 273 642 7363010257ANE - Headquarter 5 977 793 3 803 944ANE & RF Delegations 786911435 441 018674Municipalities 482871 173 67900237FE - Funcionamento 3 273 979 -Districts 81 663616 41327691Consolidated Receivables Balance 15 187 971 638 7 917 060 802

5. BANK BORROWINGS

2018 2017

BCI - Sindicato and Millennium BIM (1) 257 496 493 347 523 028BCI MZN C/3434110510002 - Pagamento Empreiteiros (3) 57 093 445 57 093 445CGD-Linha Cr6dito de 400 Milh6es E (2) 4062767518 4062767518

4377 357456 4467 383991

Fundo de Estradas received loans from the following financial entities:1. Financier from BCI - Sindicato and Millennium 8IM are to finance the following activities:

(i) Rehabilitation of the Vanduzi - Changara road in Tete Province;(ii) Namacura - Ligonha River road in Zambezia Province; and(iii) Construction of 3 bridges in Manica Province.

These loans are payable within twelve years and have as guarantee a comfort letter issued bythe Government of Mozambique - Ministry of Economy and Finance.

2. CGD - Caixa Geral de Dep6sitos to finance the following activities:New Tete Bridge:

The loan is payable within thirty years and has a sovereign repayment guarantee issued by theGovernment of Mozambique - Ministry of Economy and Finance.

3. The BCI - Loan in the amount of 1 100 000 000 Meticais was contracted at 21 December 2014with the purpose of paying several contractors, payable in 10 years and bears an interest rate of9.25%. This loan has a guatantee a confort letter issued by the Government of Mozambique -Ministry of Economy and Finance-

5. SHORT TERM PAYABLES

27


The balance of Short Term payables is related mainly to the value of guarantee retentions in theconstruction works made in the road fund sector and is detailed as follows:


Road Fund - Headquarter 8657 758 416 1 947 345 015ANE - Headquarter 2 797 339 434 306ANE & RF Delegations 636 131 567 160 762 280GNPT 50 656 000 -Municipalities 488 634 177 56 035 864FE - Funcionamento 84 315 420 -Districts 8 682 460 8 000 377

9928975379 2172577842

6. PREVIOUS YEAR ADJUSTMENTS

Description

ROAD FUND 2018

5 002Correction of Advances Balances for projects previous to 2018 11 499 914Financial Adjustments (13351 212)Correction of invoice duplication in the previous year 1 856 300

OTHER (71 243 492)

ANE & RF DELEGATIONS (76 325 923)Municipalities 5 090 250Districts (7 818)

(71 238490)

7. DEFICIT

In light with the cash basis principle, the consolidated deficit in the amount of 2 670 656 648 Meticaisrefers to the fact that the expenditures executed during the year did surpass the collected revenuesduring the year. The amount of the expenditures, when compared to the revenues, was made with thebeginning balance at the Banks accounts, which had an amount of 4 025 418 605 Meticais, In addition,during the year, there were no internal bank borrowings.

8. GOVERNMENT INVESTMENT FUNDS

This amount relates to the total transfers received during the current year from the Government financersfor investment Project.

2018 2017


Government Investment Funds - State Budget 975 083 939 714 588 225975 083 939 714 58B 225

9. BORDER TAXES

2018 2017

Beira 275203435 214021 365Manica (Machipanda) 127564151 154776308Niassa (Madimba) 96 300 141 020Zamb6zia (Milange) 13277936 16108858Maputo 22151 333 18349627Tete 132 142 096 197 833 913

570 435 251 601 231 090

10. FUEL LEVY

2018 2017

Received During the Year 3 663 192 499 3841 967 028

3663192499 3841 967028

29

UNDO DE ESTRADASOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018

imounts expressed in Meticais)

1. GRANTS AND LOANS

YONORJ LOANER ORIGINAL CURRANCY 31.12.2018

USD EUR MZN ZAR SEK YENE MZN

3AD 28671 846 1403 408 120 861 335 - - 2094225239

3ANCO MUNDIAL 53720045 - - 3311 920647JE - 16386578 - - - 1158811473'HINA 10269582 - - 637 432954

NDIA 16314727 985 009 265

(OREA 8 904 770 - 541 503037

'ORTUGAL 8752362 - 362 854 326

ICA 11 023385 - 154162553 - 1 414323000 1 588762200

ANIDA - 627587165 - - 627 587 165

XDF 773650 3782920 - - 60894537

IROMER/FC - 44699183 - - 37426484

"IDA/OPEC - - 130724361 - - - 130724361229 800 229 800

-otal 128988932 27 315 998 1082010231 - - 1414323000 11 537344402

30

JNDO DE ESTRADAS)TES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018mounts expressed in Meticais)

!. GRANTS AND LOANS (CONT)

ie amounts presented for BAD, JICA, KfW, KOREA, Portugal, CHINA, INDIA and IDA-World Bank are loans granted to the Mozambican Governmentth interest are supported by the Treasury (31.12.2017).

)ONORI ORIGINAL CURRENCY 31-Dec-2017

-OANER USD EUR GaP MZN ZAR SEK YENE IVIZN1AD 14284059 4446802 1098171 - - 1 017590037)ANIDA - 238 786 222 - - 238 786 222:HINA 83300795 - - 5207182927IE 17138581 - - - 1248579119ICA 4274384 - 103325391 - - 790041 000 836616002,OREIA 10713375 - - - 570184111'ORTUGAL - 8254442 - - - 368816147)PEC - 89968485 - - 89968485IDA-Promer - - 21390886 - - 21 390 886'ROPESCA - 13492501 - - 13492501DA-WB 14049689 - - - 2 900 278 839

rotal 126622302 29839825 - 468061 655 - 790041 000 12 512 885 275

31

FUNDO DE ESTRADASNOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018(Amounts expressed in Meticais)

13. BANK INTEREST INCOME

2018 2017

Road Fund Headquarters 3702072 8468166ANE Headquarters - -ANE+RF Delegations 46869 210566Municipalities - 24153

3 748 942 8 702 885

14. BRIDGE TOLLS

Road Fund 2018 2017

Limpopo River - Xai - Xai 23517490 20371 500Save River 4919560 4045790Moamba 3308129 2080350Zambeze River - Armando Guebuza 44739970 37933380Ilha de Mogambique 835 400 605 070Limpopo River - Guija 4 685 800 3 499 780Lugela 711682 723 250Zambeze River - TeteTotal 82718030 69259120


15. EXCHANGE RATE LOSS

Accounted in Accounting Exchange Accounting Exchange RateMZN Balance Balance

Bank Account on the date of USD Rate MZN Loss

Transaction 31/12/2018 31112/2018 31/12/2018

BCI USD 375 00000 - - 375 00000

BM4895601000 165 630 434.19 2653 556.64 6095 161 734 886.71 3 895 547.48DIM USD21441075 335 587.67 2667.58 60.95 162589.00 172998.67

Sub-Total 4443 546.15


Bank Account on the date of ZAR Rate MZN Loss

Transaction 31/1212018 31112/2018 31112/2018BCI ZAR161822210001 2 237731.32 487137.50 4.23 2 060 591.63 177139.70

Sub-Total 177 139.70

Accounted in Accounting AccountingMZN Balance Exchange Balance Exchange Rate

Bank Account on the date of 4 Rate MZN Loss

Transaction 31/12/2018 31/12/2018 31/1212018SB EUR ContaTrans[to 5749910-86 5749910.86SB EUR1131573201001 9366841.49 62462.70 77.32 4829615.96 4537225.53

Sub-Total 10 287 136.39


Bank Account on the date of USD Rate MZN Loss

Transaction 31/12/2018 31112/2018 31/1 212018ANFRENA 55 589 494.67 891 950.00 60.95 54 364 352.50 1 225 142.17T Rodviaria 1 792636,02 70095 42 665.00 1 749 971.02

TaxaRodoviaria 654237.08 5100.00 60.95 310845.00 343392.08

Sub-Total 3 318 505.27


Bank Account on the date of 4 Rate MZN GainTransaction 31/12/2018 31/12/2018 31/12/2018

Exchange Rate 47 217 261.49 1 47 217 261.49Gain (Invoi e)

Sub-Total 47 217 261.49

Road Fund Total 65 443 689.00

Consolidated RF+ ANE 65 443 589.00

FUNDO DE ESTRADASNOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018(Amounts expressed in Meticals)

16. OTHER INCOME

2018 2017

FE Headquarters (i) 328 876 606 4 442 236 512ANE Headquarters 1 535 777 1 509 754GNPT 62 656 000 -

South Region Municipalities 158 146 593 1 705

Central Municipalities 121 182 600 -

North Region Municipalities 124690200 700

ANE Delegations 3 553 246 4 345 503FE Delegations 115529 69FE Operation 206 572 -

800 910 161 4448 094 244

(i) -This refers to tender income, rounding differences and financial adjustments

17. ROAD FUND HEADQUARTERS

2018 2017

Staff Expenses 134 750 267 105 197 238Goods & Services 309 534 827 156 582 560Finance Costs 175 471 442 1 267 259 848Administrative Expenses 619 756 536 1 529 039 646


18. ANE (ADMINISTRATIVE DIRECTORATE)

2018 2017

Assets 151 610 785 143 832 830Bank 145 632 992 140 028 886Receivables 5 977 793 3 803 944

161 610 785 143 832 830

Liabilities 2 797 339 434 306Payables 2 797 339 434 306

Equity (148 813 446) 143 398 524Opening Balance 143398524 157897535Previous Year Adjustments - (577 706)(Deficit) (5414 922) (14 499 011)

Equity and liabilities 151 610 785 143 832 830

Revenue 295 983 095 300 360 451Road Fund allocations 295640831 297 1590 00

Other 2342264 3156544Other Income 1 535 777 1 509 754Tender Income 575 530 1 646 790Exchange Rate Gain 230 958 -

Expenditure 292 568 173 314 859 462Administrative expenses 280 121 677 261 590 455Personnel Expenses 218812 135 201497189Third party Suppliers 15 180610 14959024Third party Services 46128932 45134241

Capital expenditure 11 250874 41 534902Housing 9 524 433 35 940 541Machinery and Equipment 1 726 441 5 594 361

Other Expenses 1 022 623 -Exchange Rate Loss 172999 11 111492Surplus(Deficit) 5414922 (13921 306)


. PROVINCES ACCOUNTS ( ANEIFE DELEGATIONS) -1

Maputo Gaza Inhambane Sofala Manica

ANE FE ANE FE ANE FE ANE FE ANE FE

'ssets 3 703 828 31 210784 2772400 74283692 4142185 70355704 1891411 36300212 696971 57450442tash on Hands - 19060 - 118667 749215 15130 - - -

ash at Banks 3702588 2916932 2296384 4166064 2701745 3244942 1 891 791 4440050 570788 1 886845teceivables 1 240 28274792 476016 69998961 691 225 67095632 (380) 31 860162 126183 55563597

quity and Liabilities 3703828 31 210784 2772400 74283692 4142185 70355704 1 891411 36300212 696971 57450442

)pening Balance (877462) 17707924 2197820 25664278 1 986947 10626684 688022 16777061 (4928 22167904114)revious Year (1 504) 398 004 3 354 - - - (60 000) - - 15130Ldjustmentlshort Term Payables 891 536 18977428 2018333 60104511 892800 53536104 669108 13442520 5170325 44038466)ther Payables - - - - - - - .-

urplus(Deficit) 3691 258 (5872572) (1 447107) (11485097) 1 262438 6192915 594281 6080632 454759 (8771 057)

3689755tevenue 36 081 000 144 754 526 29 778 733 253 473 992 28 721 660 286 572 082 40 659 038 220 844 746 30 190 051 251 446 372oad Fund Transfers 35990000 144754497 29331 000 253473992 27542000 286572082 40650838 220823746 30016000 251 338770ender Income 91 000 - 278689 - 443000 - 8200 16000 139000ank Interest Income - - - - - - - - 7602ther Income - 29 169044 - 736660 - - 5000 35051 100000

.xpenditure 32389742 150627098 31 225840 264959089 27459222 280379167 40064757 214764115 29735292 260217429dministrative 31 044 195 7849462 29239959 5352558 27459222 5879693 39389757 14928561 29735292 4306889xpensesapital Expenditure 1345547 127202187 1985881 217561 996 - 243279934 675000 181 643464 - 217925368unds Allocations - 15575449 42044534 - 31219540 - 18192070 - 37985172)ther Expenses - - - - - 20 - -

;urplusl(Deficit) 3 691 258 (5 872 572) (1 447 107) (11 485 097) 1 262 438 6 192'915 594 281 6 080 632 454 759 (8 771 057)

36

JNDO DE ESTRADASDTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018imounts expressed in Meticais)

L PROVINCES ACCOUNTS ( ANE/FE DELEGATIONS) -2

Tete Zamb&zia Nampula Niassa Cabo DelgadoANE FE ANE FE ANE FE ANE FE ANE FE

ssets 838090 76432595 7525431 128329218 20679616 30588843 20485297 158 286 499 3622017 133823550ash on Hands - 6400 - 23600 - - 5 51 -ash at Banks 671 790 1369539 5220 628 1703551 20679 616 2 001916 5488298 1476678 3616456 3533117,eceivables 166300 75073056 2304803 126619267 - 28563327 14996999 154809822 - 130290433

quity and Liabilities 838090 76432595 7525432 128329218 20679616 30588843 20485297 156286499 3622017 133823550)pening.Baiance (10341921) 27526303 6312997 115136499 76342 (3231045) 35136717 59150095 1840598 17707434revious Year Adjustments - 0 40621 (74 530 766) 39607 229 841 1 (714 750) 75252 (1 820 713)hort term Payables 10400630 57123-637 2663842 96669730 1304762 5377366 2343909 126 616 407 980 775 132909378ther Payables - - - - - -urp[usf(Deficit) 779 381 (8217 345) (1 492 028) (8946245) 19 258 905 28212681 (16995 330) (28 765 252) 725 392 (14 972 550)

evenue 34277 667 241452950 30856548 365632472 51413435 306731976 42703354 411424439 39512134 305428878oad Fund Transfers 34050000 241412450 29194000 365606472 49494000 306731976 42 214 000 411424439 38292764 305421878ender Income 179000 40000 750100 16000 503965 - 304000 - 1 129 550 7000ank Interest Jncome - 0 39267 - - - 0 - -ther Income 48667 500 873181 10000 1415470 - 185354 - 89 820 -

xpenditure 33498286 249670295 32 348 576 374 578 717 32154530 278519295 59698684 440189692 38786742 320401428dministraive Expenses 32841832 3222438 32348 578 6576960 32154528 3571501 59698684 5312619 31718793 3629346apital Expenditure 656454 219039959 - 311944788 0 223680632 - 394700520 7067949 277988858unds Al[ocation - 27407898 - 56058969 51267163 40176553 38783224'ther Expenses - 1 - - 2 - -

urplusl(Deficit) 779 381 (8 217 345) (1 492 028) (8946 245) 19 258 905 28 212 681 (16.995 330) (28 765 252) 725 392 (14-972 550)

37

JNDO DE ESTRADASDTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018mounts expressed in Meticais)

9. PROVINCES ACCOUNTS (ANE I FE DELEGATIONS) - 3

Total 2018 Total Aggregated Inter-Delegations TotalTransactionsANE FE ANE+ FE2018 ANE + FE2017 ANE+ FE ANE + FE2018 ANE+ FE2017

ssets 66357246 795 061 539 861 418 786 502 087 361 861 418 786 502 087 361ash on Hands 754776 182857 937633 1624896 937 633 1624 896ash at Banks 46840085 26729633 73569717 57704957 73569717 57704957eceivables 18 762'386 768149050 786911435 442757508 786911435 442757508

quity and liabilities 66357246 795 061 539 861 418 786 502 087 361 861 418 786 502 087 361lpening Balance 32091945 309233137 341325082 236134797 341 325082 236134797revTous Year Adjustments 97331 (76 423 254) 76325923 5669383 76325923 5669383hort term Payables 27336 019 608795548 636131 567 160762280 636131567 160762280'ther Payables - -urplusl(Deficit) 6831,951 (46 543 891) (39711941) 110859668 39711941 110859668

evenue 364193620 2 870 118 172 3234311791 2884452629 - 3234311791 2884452629oad Fund Transfers 356774602 2869916041 3226690643 2873096374 - 3226690643 2873096374ender Income 3826504 79000 3905504 6783717 3905504 6783717an% Interest Income 39267 7602 46869 210566 46869 210.566terincome 3553246 115529 3668775 4361 972 3668775 4361972

xpenditure 357 36 669 2834306325 3191667994 2773592 961 - 3191667994 2 773 592 961dministrative Expenses 345630836 60630027 406260863 376477963 - 406260863 376477963apital Expenditure 11730831 2414967704 2 426 698 535 2162722375 - 2426698535 2162722375unds Allocation 0 358708573 358708573 358 708 573ther Expenses 2 22 24 234392623 24 234392623

urplusl(Deficit) 6831 951 (46 543 891) (39 711 941) 110859668 - (39711 941) 110859668

38

AFUNDO DE ESTRADASNOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018(Amounts expressed in Meticais)

20. OFFICE OF ZAMBEZE BRIDGE (GPPZ)

Notes 2018 2017

Assets 1905 1905Cash and Bank 19 1 905

Total Assets 1 905 1 905

Equity 1905 1905Opening Balance 19 1905 1I905

Surplus 1 905 1 905


21. GNPT - OFFICE OF NEW BRIDGE OF TETE

Notes 2018 2017

Assets 7667488 4926782Cash and Bank 19 7667488 4926782

Total Assets 7667488 4926782

Liabilities 5 -Short Term Payables 19 5 -

Equity 7667483 4926782Opening Balance 19 4 926 782 4 535 130(Deficit)/ Surplus 2 740 701 391 652

Total Equity and Liabilities 7667488 4926782

Notes2018 2017

Revenue - 21147 255Transfers from Road Fund 19 62 656 000 21 147 255

Expenditure 59915 299 20755604Administrative Expenses 19 59703199 20755604Capital Expenditure 19 212 100 -

Surplus 2 740 701 391 652

UNDO DE ESTRADASOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018kmounts expressed in Meticais)

L MUNICIPALITIES ACCOUNTS (SOUTH REGION-6)

Maputo GazaMaputo Matala Manhlia Boane Namaacha Xai-Xai Chokwe Chibuto Mandlakazi Bilene Macia

kssets 18542602 21 837881 7130648 7052041 6276176 16043414 11402101 12778927 9139195 3 874 332 6218258'ash on hands - - - - - - - - - -ash at banks 125413 142506 256718 569141 59 554 103914 213549 3395613 21 793 34650 52865!eceivables 18 417 190 21 695375 8873930 6482900 6216622 15939500 11 188552 9383314 9117401 3839681 6212973

qulty and liabilities 18542602 21 837 881 7 130 648 7052041 6276 176 16 043 414 11 402 101 12778927 9139 195 3874332 6218 258Ipening Balance (1 192 251) 1 858 644 325 640 3803 808 565 942 152 866 2592361 820 704 1 193 556 (617 224) 827 852'revious Year Adjustments - - -- - -hort term Payables 19727 872 19163438 9982652 2545 272 5708 400 19131 469 8367535 9055848 7954000 3846532 5 390 000ther payables - - - - -urplusl(Deficit) 6981 815 799 (3 177 643) 702 961 1 835 (3240922) 445 205 2902 376 (8 362) 644 924 406

evenue 15 213 000 11 500 300 6518400 1603 400 5708400 15939500 8368593 8511 000 7954000 2844800 5390000oad Fund transfers 15213 000 11 500300 6518400 1 683400 5 708 400 15939500 8357500 8611 000 7954000 2 844 800 5390000ender Income - --

arnk Interest Income - - -'her income

Xpenditure 15206019 10684501 9696043 980439 5706565 19180422 7923388 5608624 7962362 2199876 5389594dministrative expenses 0 2335 2335 9943 2335 2 512 48 132 100 31 200 135 086 200apital expenditure 15206019 10682166 9693708 970495 5704230 19 177909 7875256 5.608 524 7931 162 2334965 5389394ther expenses - - - - - - - -

urplusi(Deficit) 6981 815799 (31774 702 964 1835 (3240922) 445 205 2 902 376 (8362) 644 924 406

41

JNDO DE ESTRADASOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018imounts expressed in Meticais)

. MUNICIPALITIES ACCOUNTS (SOUTH REGION- 2)

Inhambane TotalInhambane Maxixe Massinga Quissico Vilanculos 2018 2017

Ssets 12029306 21724295 15358304 16881036 13369834 199658347 29339849ash on hands - - - - -ash at banks 767 176045 41857 580536 1285923 7390076 5563709eceivables 12028539 21548250 14939637 16300500 12083908 192268271 22776140

quity and Liabilities 12 029 306 21724295 15358304 16881 036 13 369-831 199658347 29339849pening Balance 962280 1769605 886207 10399 1 080075 15040466 27446525revious Year Adjustments - - - (943817) 946817 804ho term Payables 11 96861 14614300 14585176 24392071 11 994100 188156625 14299383ther payables - - - - -urplus/(Deficit) (629835) 5340390 (114079) (7521 435) 1239472 (2591 927) 12405256

evenue 11 592700 14614300 14024500 16290600 11 993200 158 146 593 157 757 405oad Fund transfers 11 592700 14614300 14024500 16290500 11 993 200 158145500 157755700-nder Income - - - - -ank Interest Incomeher income - - - 1093 1705cpenditure 12222535 9273910 14138579 23811935 10 753 728 160738621 170162661Iministrative expenses 4230 2335 35459 5500 30760 42257 192041apital expenditure 12218305 9271 575 14103121 23806435 10722989 160696234 169970619her expenses - - - -

irplusl(Deficit) (629 835) 5340390 (114 079) (7 521 435) 1239472 (2 891 927} (12 405 256)

42

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'.. MU�11C1PALITIES ACCUUNTS [C� fJTRAL REG[С}1 � - 3}

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п . _ 7t0]9915 � 38 г9 ц 9 tCSlTyfi Ю 87 Ьл6F Т311791 � S; Б76i61 ] Ь31Qt1 2732Q12 47530l г 839741С S2aGt979 9 р8в655 1'![8 Т 908 2717.93� а �H� r-0s � ___........._......._......._. _ � _____ .....____� .........__.__ - - - �1 5 Баг. � � t5 SYi 5Э8 Э533т 19 7 8г1 t � 1 5375Q8: 3 78J д47 дЛ3 Э8Р 711 70 J23 ЕТ 2� 171 вБ 1 59°:S1 2 i1JC 5 YJd 8I Ig3сч+ аб4 вs 54[sIXi7 1855врр in3e3s 53 г5{ю3 3szsooo sлочгэег зазоа2 г кгзls еs s зsатез вэаахч s пвo-2<ге во8 а5 ьs l гаиг'+еи геоове

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1[ ЧУ [RaПC1q 5 44S IXЮ 1 8S5 80С 2 Т{Р 808 6 31S В08 ] Ь29 WG � 2 3У258Э11 (1 Т26 t]i1 (2 6i7 306I � 72S 11S _____..._ [7 Т@ 776j 1ЬL 4?1! !3ь 7г!} __ [18 2А1! (1 769 7E9j

43

A LJNDO DE ESTRADASL-:)TES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018mounts axpwessed in getica )_

MUNICIPALITIES ACCOUNTS (CENTRAL REGION - 4)

Zambezia TotalQuolimane Mocuba Milange Mag. Costa Gurue Afto Molocue 2018 2017

ssats 33357070 13334297 3433065 4372124 948 2350634 185511995 55 29T 763ash on Hands - - - - -ash at Banks 1942727 2947 9065 13556 8748 3134 34684777 26610116ecelvables 31414343 13331350 3424000 4358568 6 466 2DO 2347500 150827217 28687646

quity and LiabilWes 33357070 1333-4297 3433065 4372124 6474948 2 350 &U 185511995 55297763penIng Balance 8427727 (625123) (175816) 37636 8142741 (730235) 42 5B6 714 41313401revious Year Adjustments - - - 6649416 (473415)ort term Payables 27690658 13960527 4121356 4787550 7602482 3219976 141972324 12731049the r Payablas - - - - - - -urplus/(Def1cft) (2761316) (1107) (512475) (453062) (9270275) (139106) (5676460) 1725729

avenue 22332000 13331400 3424000 4360623 E471 200 2347500 121187123 96753653oad, Fund Transfers 22332000 13331400 3424000 4358000 6 471 2GO 2347500 121182600 96729500,nderJncome - - - - -3nk Interest I Roome - - -herinoorrie - 2623 - - 4523 24163

Kpendfture 25 093 315 13332507 3936475 4al3684 15741475 2486606 126863582 95026924Jminist tive Expenses 2235 2335 2335 2920 2335 - 101140 77820apital ExpendIture 25091080 13330172 3934140 4810764 6777956 2486606 117801258 94949104ther Expenses - - - - 8961184 - 8961184 -

orplusl(Deftit) (2 761 ML (1107) 512 475) 453 J9 270 275) (139 (5676 1726729

44

UNDO DE ESTRADASOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018\mounts expressed in Meticais)

MUNICIPALITIES ACCOUNTS (NORTH REGION - 5)

Nampula NiassaNampula Nacala Manapo Malema Angoche Ribause M LIchinga Cuamba Metangula Mandimba Marrupa

ksses 8641 857 14135871 10195593 6 040 457 14557222 4 517 770 10356362 21224 292 1 855064 10470562 4435245 9182408'ash on Hands - - . - - - -;ash at Banks 7535306 11252 1 102573 19457 267922 16770 7183 2037782 30564 3265562 66741 681Zeceivables 1006550 14124819 9093020 6021 000 14289300 4501 000 10349180 19186511 1824500 7205000 4368504 9181 726

quityand 8541857 14135871 10195593 6040457 14557222 4517771 10356362 21 224292 1855064 10470562 4435245 9182408)Pening 7834652 221 981 (926 015) 5235895 (2034380) (82927) (307581) (1 820708) (1 563447) (709 850) (2 500 486) (1 841077):alancerevious Yeardjustments - - (3 760) - - - -hortTerm 707205 17853851 9692743 6041 252 18 946 711 5030985 11 024717 20881 899 3482070 7402717 7214328 11 033336asyablesIther Payables - - - - -- - - - - -urplusl(Deficlt) - 3 939 20 1 428 866 6232 939 2355 109 450 288 360 774 2 163 101 53559 3777695 21 402 9851

evenue - 4986000 9086000 6921000 10848300 4472800 11006300 18870400 1 824500 7205000 4351 000 9176600oadFund - 4956000 9086000 5921 000 10848300 4472800 11 006300 18870400 1 B24 500 7205000 4351 000 9176500ranisfers

ender Income - - - - - - -ank Interestlcomether Income -

xpenditure - 8 925 960 7657134 11 153 939 13203409 4923 088 11 367074 16707299 1 888059 3 427 305 4329598 9 18I 351ministrave - 2315 642737 5525 6345 3580 2335 3300 2335 18 2835 15350xpenses

apiture - 8923645 7014398 11 148414 13197064 4919508 11 364739 16 703 999 1 885704 3427287 4326763 9171 000ther Expenses - - - - - - - 20 - -

urplus - 3 939960 1428866 5232939 2355109 450288 360774 2163101 63559 3777 695 21402 91851

45

JNDO DE ESTRADASDTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018mounts exprssed in Meticais)

L MUNICIPALITIES ACCOUNTS (NORTH REGION - 6)

Cabo Delgado Total ConsolidatedPemba Montepuez Mueda Chifre Mocimb.Praia 2018 2017 2018 2017

4sets 8734889 1823 469 16332541 2900695 8897018 154 201315 39368398 539371 657 124006 010ash on Hands -ash-at Banks 26 889 1 806 5541 6495 23 108 14425831 22931 949 56500484 56105774eceivables 8 708 000 1 821 664 16327000 2894200 8873911 139775684 16436449 482 871 173 67900237

quity and Liabilities 8734889 1823 469 16332541 2900695 8897018 154201 316 39360398 539 371 657 124006010'pening Balance 8224033 (339417) 35792 106155 1 110346 10362966 (10465880) 67970146 58293046revicus Year Adjustments - (608600) - - - (612350) (73229) 5090 249 (547448)hort Term Payables 9421 167 2778209 16327000 2894290 7772750 158505228 29005432 488634177 56035864ither Payablesurplusl(Deicit) (8910311) (6723) (30252) (99750) 43923 (14054528) 20903075 (22322 915) 10224548

.evenue 8708000 1 241 200 16327000 2894200 7772000 124690 200 116 402480 404023916 370913538

.cad Fund Transfers 8708000 1 241 200 16327000 2894200 7772000 124690200 116401 780 404018300 370 886 980enderlincomeank Interest incomether Income - 700 5616 26558

xpenditure 17618311 1247923 16357252 2993950 7 758 077 138744728 95499405 426 346 831 360 688 990dministrahve Expenses 4102 6 800 41 136 3700 200 742613 182661 886041 452522apital Expenditure 17614208 1 241 123 16316116 2990250 7757877 138002095 95316744 416499586 360236467ither Expenses - - - - 20 - 8951 204 -

urplusf(Deficit) 910 311) (6723) (30 252) (99750) 13 923 (14054528) 20 903 075 (22 322 915) 10 224 548

46

A&FUNDO DE ESTRADASNOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018(Amounts expressed in Meticais)

25. EXCHANGE RATE GAIN

This amount arises from the translation of bank account balances in foreign currencies to MZN atthe exchange rate of Banco de Mogambique/BCI ruling at 31 December 2018.

Details per Bank Account and Currency are the following:

Bank Account Accounted in MZN Accounting Balance Exchange Accounting Balance Exchange Rateon the date of . Rate MZN Gain

Transaction 3111212018 31/12/2018 31/1212018

SCI Euro 528727710002 2222 803 31 918 6965 2223 122,13 319

8B1131978241008 419826 8295 59.65 577 746.75 157921

BM4260601009 6 264 028 89 949 69.65 6 264 927 65 899

- 159 140Sub-Total 159 140

Bank Account Accounted In MZN Accounting Balance Exchange Accounting Balance Exchange Rateon the date of USD Rate MZN Gain

Transaction 31/1212018 31/1212018 31/1212018BIM Dolares 20099080 - 216646 7017 60.95 427 693 644340BIM Dolares 21627606 3922 67 60,95 4101 178BIM Dolares72136767 1 622 28 60.95 1 696 74BM4298601006 44642059 772399 60 95 47077711 2435652BM4261601007 113063973 2159618 60.95 131 626693 18564719BM4865601008 83124411 1541 116 60.95 93931 040 10 806 630BM4896601008 353935964 5992695 60.95 365254788 32371 010BM4895601006 106929789 2130840 60.95 129874718 22 944 928BIM20441102 4228872 72772 60.95 4435434 206562BC1 1977568210002 4092402 130822 60-95 7973584 3881 182$81131091691001 271447285 4 729 653 60.95 288272355 16 825 069

108 68D 345_Sub-Total

Bank Account Accounted In MZN Accounting Balance Exchange Accounting Balance Exchange Rateon the date of Libras Rate MZN Gain

Transaction 31112/2018 31/122018 31112/2018SB Libras 32 333 000.00 500 000.00 77.32 38 660 000,00 6 327 000

Sub-Total 6327 000

Bank Account Accounted in MZN Accounting Balance Exchange Accounting Balance Exchange Rateon the date of USD Rate MZN Gain

. . Transaction 3111212018 311112/2018 31112/2018Taxa Rodoviaria 331 5Machipanda 632 450 60.95 332178 545

Sub-Total 545

Bank Account Accounted in M2N Accounting Balance Exchange Accounting Balance Exchange Rateon the date of Rate MZN Gain

Transaction 31/1212018 31112/2018 31/1212018Exchange Rate Ga[n 44651 50404 - 44 651 504

Sub-Total 44 651 504

Road Fund Total 51138 189


Bank Account - ANE Accounted in MZN Accounting Balance Exchange Accounting Baance Exchange Rateon the date of Libras Rate MZN Gain

Transaction 31/1212018 3111212018 3111212018BIM Euro 245985572 128 023 435.20 1 841 41268 09103/1900 128 254 393,16 230 958

Sub-Total 230 955

Rounding difference 1 655 271

Consolidated RF + ANE 161 704 763

26. OPENING BALANCE

2018 2017Opening Balance

Road Fund Headquarters 4 721 597 493 (1 478 916 095)ANE Headquarters 143398524 157897535ANE Delegations Provinces 32 091 945 29 255 263Road Fund Delegations Provinces 309233 137 205763518Municipalities 67970146 58293046GPPZ 1 905 1905GNPT 4926782 4535130Districts 33 327 314 57 863 755

5312547246 965305953

JNDO DE ESTRADASITES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018mounts expressed in Meticais)

'.DISTRICTS ACCOUNTS

Maputo Gaza Inhambane Manica Sofala Tete Zamb6zia Nampula Niassa Cabo Total- Delegado

'ssets 2137271 3271856 1286 000 5791336 7202434 12528410 16340876 4540536 22321274 5243623 81663617;ash on Hands - - - - - - - - -

;ash at Banks - - - - - - - - -eceivables 2137271 3271856 1286000 6791 336 7202434 12528410 16340876 4540536 22321 274 5243623 81663.617

.quity and liabilities 2137271 3271856 1286 000 6791336 7202434 12 528 410 16340876 4540536 22321274 5243623 816i3617)pening Balance 1770 328 916929 1164342 3714180 4038640 3418774 9981767 1892329 4463777 1966248 33327314'revious Year Adjustments - - - - - - (7818) - - - (7818),hort Term Payables 961 474 798757 63900 1364562 91364 1256094 (395317) 1 051 164 3490462 - 8682460Ither Payables - - - - - - - - - -.

)eflcit)/Surplus (594531) 1 556170 57758 1 712595 3072430 7853542 6762245 1597042 14367034 3277375 39661661

!evenue 15575449 42044534 31219540 37985172 18192070 27407898 56077970 51267163 40176553 38783224 358729573oad Fund Transfers 15575449 42044534 31219540 37985172 18192070 27407898 56077970 51267163 40176553 38783224 358729573ender Income - - - - - - - - -

ank Interest Income - - - - - -

ther Income - . .

xpenditure 16169980 40488364 31161782 36272578 15119640 19554356 49315725 49670121 25809519 35505849 319067912dministrative Expenses 1085819 835512 1127033 1850128 723170 629000 2059284 956587 1617619 2-030605 12914758apital Expenditure 15084161 39652852 30034749 34422449 14396471 18925356 47255056 48713532 24191900 33475244 306151767unds Allocations - - - - - - - - - - .)ther Expenses - - - - - - 1385 2 - - 1 387)eficit)l Surplus (594 531) 1 556 170 57 758 1 712 595 3072430 7853 542 6 762 245 1 597 042 14 367 034 3 277 375 39 661 661

49

UNDO DE ESTRADASIOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018Imounts expressed in Meticais)

3. DONORS DIRECT PAYMENTSuring 2018 Fundo de Estradas benefited from direct payments made by donors for rehabilitation of roads, bridge construction and other activities as detailed below:

)escription EUROPEAN BAD INDIA JICA PORTUGAL NDF KOREA CHINA WORLD BANK TOTALUNIONMZN MZN MZN MZN MZN MZN MZN MZN MZN MZN

Zevenue)irect Payments 1158811478 2094225239 985009265 1588765200 362854328 60894537 541 503037 637432954 2548922284 9978415322

1158811 478 2094225 239 985 009 265 1 588 762 200 362 854 328 60 894 537 541 503 037 837 432 954 2548 922 284 9 978 415 322,xpenses,onsultancies 12251494 73106600 - - - 57111617 - 14938360 157408071toad Rehabilitation 906116270 1440029417 985009265 - 362854328 637432954 - 4331442234oad Upgrading - - - 734 247 537 - - 541 503 037 - 1 275 750 574?oad Construction

-Zoad Maintenance)rojects Preparation - - - 775992544 - - - - 157017654 933010198iupervision 240443714 - 78522119 - - - - 20669785 339635618imergencies Works - 581 089 222 - - - - 2 356 296 485 2 937 385 707:quipment

3 782 920 3 782 296 9201158811478 2094225239 985009265 1588 762 200 362 854 328 60894537 541 503037 5207182927 2548922284 9978415321

s


;. DONORS DIRECT PAYMENTS (CONT)

ie financing per the project, is analysed as follows (2017)

EUROPEANUNION BAD INDIA JJCA Portugal KOREIA CHINA WORLD BANK Total

Description MZN MZN MZN MZN MZN MZN MZN MZN MZN

.evenue

,irect payments 1248579119 1017590037 - 836616002 341519 172 570184111 5207182927 897928629 10119599995

1248579119 1017590037 - 836 616 002 341519 172 570184111 5207182927 897928629 10119 599 995xpenses'onsultances - 87279506 - - 69516457 17422745 174218708

Road Rehabilitation - - 15871614 341519 172 - 5137666471 5495057256ioad Upgrading 1248 579 118.60 659295070 - 570184111 - 2478058300Road Construction - 260 432 300 - 356 252 748 - - - 616 685 049Road Maintenance - - 4143050 - - - 4143050rojects Preparation - - 460348590 - - - 460 348 590

'Upervision - 10583160 - - - - 10583160Emergencies Works - -- - - - - 880 505 883.66 880505884

1248579119 1017590037 - 836616002 341519 172 570184111 5207182927 897928629 10 119 599 995

51

INDO DE ESTRADASDTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018mounts expressed in Meticais)

;. DONORS DIRECT PAYMENTS

kD

Description Beneficiary Disbursementredit NO Dsrf USD EUR MZN ZAR SEK YENE MZNIsbursement

roj: 210015001 3143 Montepuez - Uchiga Road Project ANE/FE 6342 592 - - - - - 489 774 931roj. 2100150020398 MuWti Nacala Road Coridor (Mozambique) ANE/FE 9230346 1 403408 116217844 - - 745243532-oj: 2100150023096 Supplementary Loan Montepuez - Lichinga ANE/FE 7617864 - 4643491 - - 598 197 588-oj, 2100150028343 Nacale Transport Corridor Phase - Ill ANE/FE 5444 634 - - - - 258 837 896

1: 5150155000401 Mtwara Development Corridor ANE/FE - - -

ni: 2100150036499 Mueda - Negomano Road Project Phase I ANEIFE 36 410 - - - - 2 171 292

______ I Total I_ 28 671346 1 403408 120861 335 - - 2094225239

'o: 2100150013143 Montepuez - Lichiga Road Project

Design and Supervision of the RehabiJitation of Montepuez61DG2007 Road - RuaRa Lot A Aurecon -Studi - - -Supervision of the Lichinga Litunde Road Rehabilitation71G120D7 SNC Lavalin -

9/DIPRO/2008 Rehabilitatron Est. Montepuez Ra a Lot A CMC/CMCAA JV - -

IDIPRO13522015 SUpervision of the Lichinga Litunde Road Rehabilitation CPG - - - - -

Rehab- Of road N14 Section bet Montepuez & Ruaga in101PRO/313/2016 Cabo Delgado China Jiangxi 6342592 489 774 931

Total 6342592 - - - - - 48977493101: 2100150023096 Supplementary Loan Montepuez- Llchinga

DIDIPROI2008 Reabilitaoo da estrada entre Lichinga Litunde CMC-MCM J.V

52

JNDO DE ESTRADASOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018imounts expressed in Meticais)

'redit NO Description Beneficiary DisbursementUSD) EUR MZN ZAR SEK YENE MZN

Sup. loan LOT C - Litunde Uchinga Road Part II Seven8/DIPRO/31312016 Bridges Marrupa and Litunde Chico 7323879 - - - - 575 353 906Consult Serv. For Desing review of works for Mula -4/DIPRO/2013 Massangulo- Corredor de Nacala Lea Associates South Asia 293 985 - 4 643-491 - - 22 833 682

Tota 7617864 4643491 - - - 598197588

roj: 2100150020398 Multi Nacala Road Corridor (Mozambique)

Upgrading of the N13 Road between Nampula and Cuamba72/DIPRO/2009 Late 8 CCCC 1 303 384 - - - - 46 934 843

Upgrading of the N13 Road between Narm pula and Cuamba73/D!PRO/2009 Lote C Gabriel Couto - 1 403408 - - - - 69117840

Supervis,o da Reabilitaq5o da Estrada Malema Cuamba12/DIPRO12010 Lote C SNC Lavalin - - -

3/DIPRO2013 Multinational Nacala Road Corridor'Project SARI Consulting, Ltd 408 906 - - - - - 24 784 340Tecnica Engenheiros

4/DIPROIANE/35V2013 Multinational Nacala Road Corridor Project Consultores 383 751 - - - - 23 317 2877/DIPRO- Rehabilitation and Upgrading of Road N13. betweenNE31312016 Cuamba - Muilta in Niassa Crig - Covec Joint Venture 7 134306 - 116217844 - - - 581 089222

Total 9230346 1403408 116217844 - - -7457243532

raj: 2100150028343 Nacala Transport Corridor Phase - IIIUpgrading of the N13 Road between Multa- Massangulo

VDIPROi2014 Road CCCC 5444634 - - - - 258 837 896IDIMAN/2015 Nacala Transport Corridor Phase - III Hendrink Johannes Lotter

Total 5444634 - - - - - 258837896

ra 2100150036499 Mueda - Negomano Road Project Phase IVDIMAN-

E/350/2017 Mueda Negomano Road project Phase I Gran t Brian Separ Consulting 36410 - - - - - 2171 292

Grand Total 36410 - - - - - 2 171 292

Proect Balance 28671 846 1 403 408 120 861 335 - - - 2 094 225 239

53


. DONORS DIRECT PAYMENTS

DRLD BANK

redit no. Description Beneficiary Disbursement

1USD EUR MZNZAR SEK YENE MZNIsbursements

5roj: PPCR Pilot Proect Climate Changes ANE/FE :487 - - - - 351 271 473

6roj: GROWTH POLES Growth Poles ANE/FE 050252--- - 369324 395

40rej; CRW Crisis Window Response ANE/FE 753 - - - - - 2548922284rol: Prise 4892 A N E/FE 8585---

- - 94 175987

(873Refund World Bank 077) - - - - - (51 773491)

Total _ 045 - - - - _ 3 311920 647

rojectos

rol: jCRISIS WINDOW RESPONSE

Consultancy Services for the Technical Support21DIPRO/2013 Group (TSG)- to Provide Technical Assistance to SMEC

Ane Bridges-Gaza 506 - - - 19478740

Assessment of Damaged Caused byVDIPRO2013 floods,preparation of conceptual design and TNM

bidding docs,support1n Procurement of CivilWorks and Monitoring Supervision for IReconstruction of Roads and Bridges 585 - - - - - 96 698 75Works and Services under Output andPerformance based Road Contract (OPRC) for

YGEIANE/313/2015 Improvement, Rehabilitation and Routine ZHONGMEI ENGINEERINGickage 1 Maintenance Works of Road N220 Chissano - GROUP

Chibuto and NIC road Crz.N220 - N1 (3 de 12Fevererio) in Gaza Province 554 - - - - - 725003254

54


redit n0 . Description BeneFiciary Disbursement

USD EUR MZN ZAR SEK YENE MZNWorks and Services under Output andPerformance based Road Contract (OPRO) for

21GE/ANE313/2015 Improvement, Rehabilitationand Routineackage 4 Maintenance Works of Road R859 Maniquenique SBI [NTERNATIONAL

- Chilembene and Road R452 Chilembene - 4Mapapa in Gaza Province 332 - - - - 282815228Worksa nd Services under Output andPerformance based'Road Contract (0PRC) for

3/GEIANE/313/2015 Improvement, Rehabilitation and Routineackage 3 Maintaence Works of Road N221 Guij6 MOTA ENGIL

Ch6kwd and Road R448 Ch6kw6 - Macarrelane 1in Gaza Province 182 - - - - 91 447 896Works and Services under Output and

3/GE/ANE1313/2015 Performance based Road Contract (OPRC) forackage 2 Improvement. Rehabilitation and Routine CHICO GROUP CO. LTD

Maintenance Works of Road N221 Chibuto -GuijA in Gaza Province 6

169 --- 401 074 757

ank Charge 594 -- -306147Review of the Procedures Manual Phase 2KPMG 4654- - - - 4700245External Audit and Financial and Procurement

2JPRTSEiFE/2017 Services DELLOITTE & TOUCI-IE(MOCAMBIQUE). LDA 377. - - 3111 998

Transfer between Accounts-Reimbursement 029 - - - - 4 423 70327

Total 794 - - - 1628590756

rol: Growth Poles IDA 52370

Cs for preparation of conceptual design bidding5/DIMAN/2013 documents,support in procurement of civil works LEA INTERNATIONAL

and supervision for R604

CS and supervision of Rehab Works of R7027/DIMAN2013 Road between N12 Junction and Nacala-a-Velha LEA INTERNATIONAL

in Nampula _952 _ 5 833

55


redit nc. Description Beneficiary Disbursement

USD EUR MZN ZAR SEK YENE MZNServices.under Output and performance-Based6/DIMAN(31312016 Roads Contracts(OPRC) for: Lot-2- R505. From

Crz.N 304{Ulo ngwe) -Ddmue- Furancu ngo-,(Length JJR MOrAMBIQUE4103,6Km)lct.14

719.0- - - - 249856462Services under Output and performance--BasedBIDIMAN313/2016 Roads Contracts(OPRC) for: Lot-2 R605: From

Cr7-N304(Ulongw.e)-D6mue-Furancungo-(Length JJR MOrAMBIQUE2103,6Km)LOL22___________13.lm)o2053

- - 139885068Projecto Piloto de Resilincia Climbtica-Lot.1 053 - . - - 638882/DIMAN/3112017 Chicanhanine-Nalazi M&T -80 6548788

BankBank chargeB charge 459 . - - - 274207

Total 202 . . 435,886 000

roj: IDA 4892-Prise Pooled Fund Cat. I1/DIPLA- Consultancy services for Upgrading of the BridgeNE/360/2017 Information System to Bridge Management RAMBOL SATRA

System 434 - 10 240 6411DG1360/2016 Resettlement Policy Framework Fulalia Macome 9- 1 325848

51DIMAN/043,11112017 Supply of Softwares of Road Design 01sps 8027 6273620Consullancy Services for the Construction

3JDIMAN/352/2016 Supervision Services for Pilot Projects of Building cpgCilmate Resilience 3099- - - 8725 S91DIMAN1043111/2017 Supply of Softwares of Road Design Rubicon 76 5302630Consultancy Services for carryng our impact

IDGANE/30/2016 evaluation for world bank NEMUS589 - - - 6808980Supply of Scales and System

)/DIMAN- Hummingbird.enginearingNE1333/2018 construction 347-

25713 893ank charge 255-- - -198216a in in g e x p e n s e s 8- 5 3 2 0 3 9 7

Total , 269 - - . - - 67909734

56

INDO DE ESTRADAS)TES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018mounts expressed in Meticats)

redit n*. Description Beneficiary Disbursement

USD EUR MZN ZAR SEK YENE MZN

rof: IDA 4892 IDA 4892-Prise Pooled Fund-Cat.2 & 3Corisultancy Services for the detailed

3/DIPRO12012 engineering design for the rehabilitation of road OPUS INTERNATIONALN1 between Pambara and Rio Save inInhambane Province 446 1471 901Consultancy Services for the detailed

4DIPRO/2012 engineering design for the rehabilliation of road ARUP INTERNATIONALNi between Gorangosa and Gala 627 - 1 442 537

(/DGf360)2015 Relat6rio do Estudo Ambiental(REIA) do projectode R eabilitap o da N i/N i0 E IA 211-1 869 5041/DIPLA- Consultancy services for upgrading of the bridgeNE/360/2017 information System to bridge Management

System RAMBOLLSATRA 414 - 15714201

ank charge 126

7560Total 824 20 505 703

roj : PPCR IDA-15898-15923Consultancy services for Assessment of Climate

/DG12014 Vulnerability and Identification of options for PONABuilding Climate Resilience into the LowerLimpopo Roads Network in Gaza Province 749Projecto Piloto de ResiliAncia Clim6tica-Lot.3 2 165778YDIMAN/311/2017 Ndonga-Dindiza JJR MOCAMBIQUE 529 - - 121 215263Projecto Piloto de Resilifncia Climtica-Lot.2 CCH CONSTRUGOES EUDIMAN/311/2017 Mohambe-Maqueze ENGENHARIA 731 - - - 49976126

Projecto Piloto de ResilIrnca ClimAtica-Lot1 1?IDIMAN/311(2017 Chicanhanine-Nalazi M & T EMPREENDIMENTOS 796- . . - 85512263Consultancy Services for the ConstructioniDIMAN352/2016 Supervision Services.for Pilot Projects of Building

Climate Resilience CPG 8911-. - - - 17789519

6Transfer from MT 6 008 648 to GFDRR account .46444- - - 363643111

57

INDO DE ESTRADAS)TES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018rnounts expressed in Meticais)

redit n'. Description Beneficiary Disbursement

________USD EUR MZN ZAR SEK YENE MZNTransfer to Grawth Poles account, forregularization of payment to M & TEmpreedimentos g802 - - - - 6706136Return to IDA, 077-- 51 773 491

ank charpes 797 1811211

Total 523- - 696800801'oj IDA 4892 GFDRR 17375

Projecto Piloto de Resili6ncia Cimatica-Lot.3 1'-02/DIMAN1311/2017 Ndonga-Dindiza JJR MOQAMBIQUE 037 - - - 72 226 203

Projecto Piloto de Resilincia ClImbtca-Lot2 CCH CONSTRUQC)ES Ei-02JDIMAN/311/2017 Mohambe-Maqueze ENGENHARIA 158- -- - 28803930Projecto Piloto de Resil[Lncia Climatica-Lot 1i-02/DIMAN/311/2017 Chicanhanine-Nalazi M & T EMPREENDIMENTOS 898- - - - 45361 581Consultancy Services for the ConstructionWDIMAN/35212018 Supervision Services for Pilot Projects of Building CPG

Climate Resilience 228 - - - - 39945202Review the.Design Standards for roads tn T34ilDIPLA/2014 Mozambique TRL 330 - -_ - 11 649 992

ink charges 426 - - - - 257683

Total 70777 - * --198012676

o: PAGAMENTOS DIRECTOSWorks and Services under Output andPerformance based Road Contract (OPRC) for

/GEIANE/313/2015 Improvement. Rehabilitation and Routine ZHONGMEI ENGINEERINGickage I Maintenance Works of Road N220 Chissano - GROUP

Chibuto and NIC road Crz.N220 - Ni (3 de 7Fevererio) in Gaza Province 663 - - - - - 426 553 562Works and Services under Output andPerformance based Road Contract (OPRC) for

VGEJANE1313/2015 Improvement, Rehabilitation and Routineickage 4 Maintenance Works of Road R859 Maniquenique SBI INTERNATIONAL

- Chilembene and Road R452 Chitembene - 3Mapapa in Gaza Province 064 - - - - - 217288635

58


redit n. Description Beneficiary Disbursement

USD EUR MAZN ZAR SEK YENE MIZNWorks and Services under Output andPerformance based Road Contract (OPRC) for

31GE/ANE1313/2015 Improvement. Rehabilitation and Routineackage 3 MaIntenance Works of Road N221 Gulj- MOTA ENGIL

Ch6kw6 and-Road R448 Chikw6 - Macarretane 7in Gaza Province7 i667 - - - - - 438969434Works and Services under Output and

3GE/ANE/313/2015 Performance based Road Contract (OPRC) forackage 2 Improvement, Rehabilitation arid Routine CHICO GROUP co. LTD

Maintenance Works of Road N221 Chibuto -Gurja in Gaza Province 20

426 - - - - 1 273 464854Review the Design Standards for roads in3IDIPLA/2014 Mozambique TRL 494 - - 20 669 784V/DIPRO-NE/313/2017 Preparationa of Conceptual Designs and

Preparation of Bidding Documents(OPRC) OPUS 976 - - - - - 14 938 360Services under Output and performance--Based

I/DIMAN/313/2016 Roads Contracts(PRC) for Lot-2: R605: FroMOQAMBQUECrz,N304(UIongwe)-DoMUe-Furancungo-(Length JRMCMIU103,6Km)Lot.1 e 2 930 - - - - 112 859072;/DIMAN-ANE-323- Rehab. R702 Between N12 Junction and Nacala

118 a Velha WIETC 532 - - - - 44 158 58340

- Total 753 - - - - - 2548922284

91Grand Total 441 - - - - 5 596 627 954

(38 IProject Balance 396) (2 284 707 307)

59

UNDO DE ESTRADASOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018lmounts expressed in Meticais)

1. DONORS DIRECT PAYMENTS

JROPEAN UNION

redit n. Desecrption Beneficlary DisbursementUSD EUR MZN ZAR SEK YENE MZNisbursements

ro Phase I Milange-Mocuba Road ANE/FE -- - --mj. Phase 1/ Milange-Mocuba Road ANE/FE - 18 386 578 - - - - 1158811 478

-1 Total - 16386578 - - -1 - 158811478

Proctos -.- - - - .I~ ~ l. -Trpensespj:Phasel Millange-Mocuba Road

'9/D/PRO108 Milange - Mocuba Phase l Mota-Eqgil

Total - - - -

oj: Phase l Milan ge-Mocuba Road/D/PRO/2013 Milange - Mocuba Phase Il - Lot 2 Mota-Engi 12805519 906 116 270Super. Of intergrated develop of Milange -/DiPRO/2012 Mocuba Nicholas ODwyer & Company 3 406.656

240 443 714Techncal-Assistance for Capacity Development/D1AR2013 Support to the Road Sector In Mozambique Pohl 174 403 12251 494

Total L 16 386 578 - - - _ 158 e11l478

60

JNDO DE ESTRADASDTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018.mounts expressed in Meticais)

Grand Total - 16 386 578 - - - 1 158 811 478


-iNA

redit nO. Description Beneficiary DisbursementUSD EUR MZN ZAR SEK YENE MZN

lisbursements

roj:420302052013112359 N: Machipanda to Serra ANEIFE 1O259582 - - - - 637432954

Total 10 269 582 - - - - - 637 432 954

rojects)xpenses

roj:120302052013112359 N6: Machipanda to Beira

Rehabilitation and Upgrading of NB Road China Anhui Forei Econ.)7/DIPRO12012 from Machipanda to Beira Constr. 10 269 582 637 432 954Rehabilitation and Upgrading of N6 Road Shenyang Engineering)7/DIPRO/2012 from Machipanda to Beira Supervising

Total 10269582 - - - - 637432954

Grand Total 10 269 582 - - - - - 637432954

61

INDO DE ESTRADAS)TES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018vounts expressed in Meticais)


DIA

,edit n. Description Beneficiary DisbursementUSD EUR MZN ZAR SEK YENE MZN

Disbursements

*o: N6: Tica Machipanda to Beira ANEFE 16 314 727 - - - - 985009265

Total 16314727 - - - - 985 009 265

ojectsExpenses

oj: NG: Tica Machipanda to BeiraRehabilitation of Estrada Nacional N6 China Anhui Forei Econ.

VDIPRO12013 Tica - Buzi - Nova Sofala Constr. 341 042 20 837669Rehabilitation of Road N2801201 between Afcons Infrastructure

idiprol31312017 Tica. Buzi and Nova Sofala Provnce Limited 15 973 685 964 171 595

Total 16314727 - - - - 985009265

Grand Total 16 314 727 - - - - - 98500

62



)REA

I I D isburseme n t sredit NO Description Beneficiary USD EUR DisbuRsements MZNDisbUSDmEUR MZN I ZAR SEK YENEMZDisbursements

rojy N104 Nampula - Narmetil ANE/FE - - --

roj: Nacala Corr[dor Upgrading phase - I ANE/FE 8904770 _ - - - 541 603 037

Totl - 8904770 - - - -1 - 541503037

Projectos

Expenses'of: N104 Nampula - Nametil

Total - __- - -

oj: Nacala Corridor Upgrading phase - IUpgrading of the N13 Road between

1IDPRO2009 Nampula and Cuamba Lote A ChicoUpgrading-of the N13 Road between

2/DIPROl2009 Nampula and Cuamba Loate B CCCCUpgrading of the N13 Road between

3/DIPRO12009 Nampula and Cuamba Lote C Gabriel CoutoUpgrading of the N13 Road between

/DIPRO312018 Nampula and Cuamba Late C posco 8094 842 492454259Con sultoria-Services for Desing andConstruction N1 D4 bet Nampula and

IDIPRO/2014 Nametil KECC 809 928 49048 778Total 8 904 770 - - - - - 541 503 037

Grand Total 8904770 - - - - - 541 503037

63



)RTUGUESE GOVERNMENT

redit NO Description Beneficiary Disbursements

USD EUR MZN ZAR SEK YENE MAZNDisbursements

ro: Llnha dos 300 Milhbes de Euros ANEIFE

01 Linha dos 400 Milhdes de Eurcs ANE/FE - 875236 - - - 352854 199

Total 8752363 - - 362854199rojeats

Expenses

roj LInha dos 300 MWihes de Euros;

Total

roJ: Linha dos 400 Milh6es de EurosReabilitag,5o da N103 e R657 entre Magige. Elevolutlon-(Monte

IDIPRO/2010 Etara e Cuamba Adrano), S.A 2984 968 123488 112Reabilitaro da R602 entre Magoe e Elevoluton-(Monte

)IDIPRO/2010 Mucumburra e da R601 Estima Marceira Adriano), S.A 4742114 196181 269Consultorfa Reab da R602 entre Magoe e

;IDIPROl2010 Mucumburra e da R601 Estima Marceira Pmeongel 389 363 16 399 966Reabilitag5o da Estrada N103 e R657 entreMagige, Etara e Cuamba na Zambezia e

IDIPRO/2010 Niassa Consulmar 635 918 26764852Total - 8752363 - - - - 362854199

Grand Total - 8 752 363 - - - 362854 199

64

JNDO DE ESTRADAS3TES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018mounts exprssed in Meticais)

; DONORS DIRECT PAYMENTS

-A

I I D i s b u r s e m e n t sescription Beneficlary USD EUR M2N t ZARI SEK YENE MZN

ontepuez- Lichinga Road Project - Project Number ANEIFEulti Nacala Road Corridor - Project Number ANE/FEandimba - LichingaRoad Upgrading - Project Number ANE/FE 9621 606 734 247 537Dnstructo n Bridges on the Road Ile and.Cuamba ANE/FE 1 401 782 -- 154 162553 - - 1414 323 000 854614663

)tal 11.023388 154162553 - - 1 4143230001 1583762200

andimba - Lichinga Road. Upgrading - Project Number)nstruction work of the upgranding of the Mandimba -,hinga Sinohydro 9 621 606 154162553 734 247 537Ptal 9621606 - 154162553 - - - 734247537

nstruction Bridges on the Road IIe and CuambaKoncikeConstructions

944000000 498413 120Chodal ColNippon 103 600 000 57 596 420mdimba Lichinga Road Upgrading Project Nippon Koei Co 1 401 782 84811 964p. Construr2o de Pontes e Estradas Rurais na Zamb6zia Chodai 35 911 000 20 925 699Konoike

instruo4o de Pontes e Estradas-Rurais na Zamb6zia Constructions 330812000 192767461senho e SupervisAo da Reabilitagdo da Estrada

)ntepuez - RuaRa Lot A Aurecon -Studi

at 1401782 - - - - 1414323000 854514663

Grand Total 1023388 - 1546252 553 1414323000 1588 762 200

65

INDO DE ESTRADAS)TES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018mounts expressed in Meticais)


kNIDA

redit N* Description Beneficiary DisbursementsUSD EUR MZN 2AR SEK YENE MZN

"ol: Danida Danida ANEIFE 527 587 000 627 567 000

Total 627587000 - - - 627 587 000

rojectsref DaidaDa nlda

Wo rk of. M L de Terra NCG Section Maval a -)NANE-CDIMU2017 Chfpembe Nizvan Empreiteiros 124 45804 12 405 804

Work of ML of Terra NC Sectbon ChiureIlANE-CD/ML/2017 Velho - NWonhane Conduril - Enqenharia,SA 21 227983 21 227 983

Wor of ML of Terra NC Section N14 Nropa7lANE-CDML/2016 - Mavanda IIulifemno, Lda 7 720 140 7 720 140

Work of ML of Terra NCG Sectio n MuedaW/ANE-CDIMLU2016 Sede - LUpelwa Con struqJo A. Vatdda 18 554 377 18 554 377

Work of ML of Terra N C Sectio n MahossIne?/ANE-C)lML/21)17 - Natala LUna Amade Contrusbes 12 480 259 12 480 259

Work from ML dle Terra NC S arnora -)IANE-CD)/ML/2G17 Machel section Devisy Construg6es 16 751 668 16 751 668

TroWo Na mu no Meloco, Ponte sob re o rdoIIANE-CD/ML/2017 Namnicuio Globo Construp6es 18 051 256 18 051 256

Namoco= Meloco section, blidge over th eVlANE-CD/ML/2017 river Namniculo MAJAUA Constru;6es 4 424 024 4 424 024

Work ML of Es de Terra N / A, NangandaVlAO1320/2017 Chiduadua Sucon Supera Construg6es 14 321 270 14 321 270

Work of ML of Terra n C Section C z N 14r/ML-TPL/314/2017 Ngura Chald Construg6es 8 995 771 8 995 771

Ci-z R698 Nacuca Sectlon, ConstructionV/ANE-CMLU2017 Works of 5 Architects Conslnfra 826540 8 256 540))AO131412017 _ LUpelwa section - Plate, 15 Kmn ML IAC, Lda 5 231 359 5 231 359

M !rate M ahepe secton, bri d ge over the Ceta Construo,es eIIML-TPL/314/2017 Mate river ServiCos 10 018 938 10 018 938

Work M L of Ea rth Road NIfC, LiUtingi na)/ML-TPUIDPANETI2017 Section - Chicufa Hale Construg8es 6 238 268 6 238 268

ML. Terraplenada Road and NC Section:_ML-TPUDPANET/2017 Fu rancu n2o - Th1wi 15 KM Sempre, Lda 4 868 685 4868685.

ML, Terrap[enada Road and NC Section: ' D 2 6425tOA-DPANET/2016 Madajquisse Massalala OC constru;oes 0 2 0 2

66

INDO DE ESTRADAS)TES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018nrounts expressed in Meticais)

Disbursementsredit N' Description Beaeficiary USD EUR MZN ZAR SrK YENE MZNML, Terraplenada Road and NC Section.

'7OA-DPANET/2016 Mulaguene Utlongue Cetrain Construc5es 3 159 850 3 159850ML, Terrapienada Road and NC Section.

IIML-TPUDPANET/2016 Furancungo - Thiwi 17 KM lot 4 ALM Construg6es 11 908557 11 908 557ML, Terrapienada Road and NC Section:

1lML-TPUDPANET2017 Cruz.R604 - Namadzi (17Km) lot 2 Adilson Construpbes 4400243 4400243ML, Terraced-Road and NC Section: Genela

!/OA-DPANET/2016 - H kamande (40Km) 8 626 197 8 626 197ML, Terraced Road and-NC Section:

IIML-TPUDPANET/2017 Chidzolomondo Nhachinde lot 5 Salafo Investimentos, Ida 3717532 3717532ML, Terraplenada Road and NC Section:

IML-TPUDPANET/2017 Malowera - Kassuende 20 km lot 6 GRC Constructora, Ida 9925 904 9925 904ML, Terraplenada Road and NC Section

PML-TPUIPANET/2017 Zobud - Wiriamo 17 Km lot 7 EMOTEC. Lda 1 737 636 1 737 636ML. Terraplenada Road and NC Section:

,/ML-TPLDPANETI2017 Agua Boa - Chibaene 11 Km lot 8 Mica Construgoes 10 048 625 10 048 625117/ANE- ML, Terraced Road and NC Section./REABIDNDA/2017 Zambuey - Cassenga 15 Km lot 9 Servitec 10490 850 10 490 850i1/ANE-

DIREAB)ONDA/2017 N IA Corrane / Mecu Africa Constru6es 7601 459 7801 459119/ANE-DREABONDA/2017 N / A: Meconta / Nemara TCS 7970435 797043520/ANE7-

DYREAB/DNDA/2017 N / A. Queen / Namahala Recoba 28618146 28618146116/ANE-:YREAB/DNDA2017 N / A: Muatua / Chivavela TEAM Construges 8598930 8598930141OA-DPANE- Work of OA de Terra N / A Chibanzo-MITADERIDANIDAJ2017 Maganza Section - Lot 4 Transporte Chabir 4001 786 4001 78613/CA-DPANE- Work of OA de Terra N IA Chibanzc-MITADER/DANIDA/2017 Maganza Section - Lot 3 JW Construcbes 3887 952 3 887 95201/A-DPANE- Work of OA de Terra N / A Chibanzo-MITADER/DANIDA/2017 Maganza Section - Lot 1 EREPTZ Construres 10 681 426 10681 426.5/A-0PANE- Work of OAde Terra N IA Chlbanzo-

MITADERIDANIDA/2017 Maganza Section - Lot 5 ADILSON ConstmAo 8413085 8413085l2/OA-OPANE- Work of OA de Terra N IA Chibanzo-MITADERIOANIDA2017 Maganza Section - Lot 2 TECOM ConstruySes 4 151 033 4151 033-6/A.DPANE- Work of OA de Terra N / A Chibanzo-

MITADERIDANIDA12017 Magarza Section - Lot 6 CHIRACO ConstruQ6es 4 070 883 4070883/DANIDA- Work from ML de Terra N / CITADERIDPANElV2017 Machocomane - Mungozi ADILSON Constru28o 8 177 078 8 177 078/DANIDA- Work of ML de Terra N I C Slice -ITADERIDPANE1I2017 Machocomane FRAME, Lda 6 707 006 6 707006YDANIDA- Work of OA de Terra N / A Chiboane -ITADERIDPANEII2017 Chichocane CCH Construg6es 16386510 16388510

67

INDO DE ESTRADAS)TES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018wounts expressed in Meticeis)

edit N* Description Beneficiary DisbursementsUSD EUR MZN ZAR SEK YENE MZNIDANIDA- Work from ML de Terra IN I Panda -

TADERIDPANEll2017 Manhombanhane JJR e FILHOS 19616106 19 616 106MOPHRH/DACU11CONS Construction Inspection of 3 Water Supply

.TICP/2017 Systems EG, Lda 935 132 935 132/DANIDA- Construction of Multifunctional Water SupplyTADERIDPANES/2017 System Geomoc,SA 8 176 012 8176012M0ANIDA- Work of OA de Terra N / A Gamba-Deve-TADER/DPANES12017 Nachilawe section TECOM Construmas 9456 809 9456809IMOPHRHIDAQUI)CONS Work of ML de Terra N I C Caia-Phaza.TICP/2017 Secon (15,5Km) Concreto ConstrugAo 8469827 8469827IMOPHRHDAQUI/CONS Construction inspection of 3 Water Supply.TICP/2017 Systems EGC, Lda 1 737 239 1 737239/MOPHRHIDAQUI/CONS Construction of Multifunctional Water Supply.TiCP/2017 System LINTEL, Lda 7463297 7463297

Total - - 418286512 - - - 418286512Monotorla 819 909 819909

Grand Total - 208 480.579 - - - 203 480579

68

INDO DE ESTRADAS)TES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018mounts expressed in Meicais)


)F

redit NO Description Beneficiary DibursementUSD EUR MZN ZAR SEK YENE MZN

Disbursements

Develop Capacity for a ClimateResIient Road Sector Fase - III

:j: 059 - Mozambique TDR - Nacala Project ANE/FE 773860 3 782 920 - - - 60894 537

Total 773 650 3782920 -0894537

Projectos

Expensesoj: CS9 Mozambique Develop Capacity for a Cifmate

Resilient Road Sector Fase - IIITDR -Nacala Project____

Reabilitan,lo da Estrada Nacional FINNOC-Finish OverseasIDG/360/2016 N6 Tica - Buzi - Nova Sofala Consultants, LTD 773 650 57111 617DIDG36012016 Shiva Enterprise, Ida 145 990 145 990CIDG/36012016 Ronil 2550000 2550000

IBIDG/360/2016 Mcompunet 1 086 930 1 086 930

Total 773650 3782920 - - 60894537

Grand Total 773 850 3782 920 - 0894537

69

A


.. DONORS DIRECT PAYMENTS

tOMERIFC

Disbursementredit N' Description Dneficmarye

____ ____ ___ ____ _ ]USD ER MZN ZAR SEK YENE M2NDisbursements

4j: PROMER IFAD ANE/FE -

oj: PROMERIMOG jANE/FE 44699183 44899 183

Total 44899183 44699183

Prolectos

Expenses

PROMER IFAD

NIC- Mirate - Nquewene (Km/ANE-CD/ML/314/2015 0,0 Ate 12,8Km) Sempre. LDA

-NIC Mavala - Sirimula (13,4IANE-CDIML314/2015 Kn) Devisy Construcbes

NIC Lolae Machoca - PapaiIANE-CDIML/12 8,9 Km LAC Construgoes

R721 Chiute - Entre Lagos (0-/REAB-TPL/DPN/12 18+700Km-10+900kM) Construp6es Casema

R721 Chiute - Entre Lagos (0-tREAB-TPUDPN/12 18+700Km) Intramal

NC Mulaparata - Nrassa (13,0-02/ML-TPUDPN/ANE/13 a 23,2Km) AJK Construo8es

NIC Mitande - Namicolo.(Km 8FML - TPL/DPN/ANEl5 -600) Constru6es PfrAmide

-

Total

70

JNDO DE ESTRADAS3TES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018mounts expressed in Meticais)

redit NI Description Beneficiary Disbursement

I USD EUR ZN ZAR SEK YENE MZN

roj: PROMER MDG95.1/ML- N/C ý Muresse - Mucunha -PUPROMER/DPANEZ/15 Km 0+000 å Km io+000 SOJOV Construçes 321 2565 321 265333/ANE- N/C CRU7 N13 Naquessa (kmP/TPUMUPROMERJ17 11.00 å km 24.00) CASA 6825 875 6828875330/ANE- NC CRUZ N13 IAPALA (KmP/TPUMUPROMER/17 0+000 å Km 6+700) GLVEN Construções 5087484 5057 484Construçåo do aterro de

acesso da Ponte sobre 0 Rio4/ML-TPUPROMER-DPANE- Namalrrué de 35 m. Km

'2017 3+100 SCOM 2484 250I3/ML-TPUPROMER-DPANE- M Localizados na Estrada . 2 484 060'2017 N/C: Murere - Mucunha Gurue JW Construções 3 651 642 36516421.2/AO-TPUPROMER-.PANE- M Localizados na Estrada2017 N/C: Murece - Mucunha Flecha Construç6es 3861 444 3851 444Construåo da Ponte sobre o.1/AO-TPUPROMER-DPANE- Ria Niketxe.de 11 Km

'2017 Murecece Mucunha Chiraco Construøes 455 620 456 620)31/ANE- N/C CRU N13 IAPALA (KmP/TPUMUPROMER117 6.70 å Km 8.50) EMOTEC 10170 009 10170009332/ANE- N1C CRUZ N13 Naquessa (km 1P/TPUMUPROMERII7 0.00 å km 11.00) SOJOVI Construções 8090190 8 090 190/ML-TPLJPROMER/DPANE-2017 ML NC Caiaia/Napala SOJOVI Construçbes 1843613 1 43613

Total - 42795203 - - - 42795203

Grande Total - 42 795 203 - - 42 795 203

Project Balance - 1 903981 - - . .9981o

71


L DONORS DIRECT PAYMENTS

ADIOFID

reditW N Description Beneficiary Disbursement

USD EUR MZN I ZAR SEK YENE MZNDisbursements

oij PROPESCA OPEC 1540PECPRPESCA ANE/FE 105 724 361 105724361,o: PROPESCA OFID 154FIDAPRPESCA ANEIFE

206: PROPESCA UE 134UEPRPESCA ANEFE 25 000 000 25000000

Total 130 724 351 130 724 351

Projects

Expenses

ol PROPESCA OPEC 1540PECPRPESCA

/ML-TPL/DPAGAZA314/2016 NC: Chilaulene -Maheile S Ccnstruioes 1 433 782 1 433 762NIC Nova Mambone -/MR-TPLDPI/201 8 NIC Nova Mambone - Matasse Matasse 5 521 560 5521 ,60(MR-TPL/DPlt2018 N/C Vianculo-MarngalIce N/C Vilanculo-Mangaftce 740 000 740 000NIC.Manhala Rex-fMR-TPL/DPU2018 NIC Manhala Rex- Nhabanda Nhabanda 8 629 957 8629957AR-UPROPESCA/DPANES2018 N/C Chinamancondo - SengD CELMACHA 2017746 2017 746AR-L/PROPESCAIDPANES/2018 Chinamancondo -Praia Nova Maji Construcbes 353 451 363 451

,1 /MI[TPLDPANE-Z/2017 N320 Abreu-Sadina ALMANAZI Constru2ces 4703472 47034723,2/MI1TPLIDPANE-Z12017 Construgo de Obra de arte Allf ConstruiSes 1 496 347 1 496 347

72


redit N' Description Beneficiary DisbursementUSD EUR MZN ZAR SEK YENE M2N

l .SIMVTPUDPANE-ZJ2017 N320 Abreu-Sadina Sempre - Sociedade E. LDA 7317 791 7317791[IIM[ITPUDPANE-Z2017 N/C : Nicadine / Dgo ro Alif ConstruçQes 2 946 983 29469831,2/MITPUDPANE-Z/2017 Nc Zalala - Sopinho Troica Construçåes 4872 561 4 872 561'6,3MR/TPUDPANE-Z/2017 NiC Impaca -Vasco Marrumbane Troica Construçes 256 150 256 150,3/MITPUDPANE-Z/2017 NI Caravefa-Namala JW Contruçes 6714226 6714226

P720-TPUDFANE-Z2016 NI: Nicadine / Dogoro Construç6es Karina 1 228 200 1 228 200,4/MIITPUDPANE-Z2017 N/C Vasco - Marrubune Kassi Kassi Constru;öes 5 785 059 5785 069N/C C ruz N 12 N acala Po rto-

172/ANE-NPITPUREAS/201 Mathelene ORATAMERA LDA 8120482 8 120482126/ANE- R681: Cruz.N324 (Ivate)/Larde2TTPUREARIPROPESCAJ2017 (35Km) Maisha Construões 6 192 361 6 192 36127/ANE- N/C 7 de Abril Cruz.(R703)21TPUREABIPROPESCA12017 Baixo Pinda ECM.Construç5es 27611 188 27611 16828ANE-IITPUREABIPROPESCA/2017 NIC Mazua-Simuco Moçambique ConstruçCes 8 157 693 8 157 69329/ANE- N/C Cruz.340/340 Moma-ITPUREAB/PROPESCA/2017 Mucoroge Sojovi 10638257 106382571 5/ANE- NIO Namige - Meculuvelane

liTPUREAB/PROPESCA/2017 20Km HM Engenharia Lda 7316653 7 316 653fMR-TPU312,112018 Quissanga -Tandenhangue RW Construções 3307558 3307558IMR-TPU312,1/2018 NO. Muco jo - Pangane Globo Construçöes 4395713 4395713'MR-TPL/312,112018 NO: Mucojo - Darumba 22 Km EMACC 879 637 879 637R764. Cruz R762 Ofumbe (MR-TPU3121f2018 16Km> Construções Aissa 637 863 637 863MR-TPU312,1/2018 Cruz. Darrumba - Olumbwa SERVITEC B11 568 811 566

Total - - 132096268 - - - 132096258

Grand Total - 1 371 897 - - - (1 371 897)

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29. OTHERS EXPENSES


FE Headquarters 157 323 749 -ANE Headquarters 1 022 623 -ANE Delegations 2 38FE Delegations 22 -158 346 396 38

30. EVENTS AFTER THE BALANCE SHEET DATE

After the reporting period, until the date on which the financial statements were authorised forissuance, there have been no other favourable or unfavourable events for Fundo de Estradas thataffect these financial statements or require disclosure therein.

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