Market News

By Matthew Hill

(Bloomberg) -- Protesters again blocked Mozambique’s main border crossing with South Africa on Thursday, after operations had resumed earlier in the day.

Demonstrators on the Mozambican side angered by the result of the country’s election last month blocked the route, with vehicles in the late afternoon still unable to enter, according to the highway operator. The border that connects South Africa’s industrial heartland with the Maputo port — Mozambique’s biggest — had earlier restarted processing cargo.

South Africa is the world’s biggest producer of chrome, a key ingredient in the manufacture of stainless steel, with about half of its production exported via Maputo. Mozambique also imports food through the border post and shortages were reported in some supermarkets in the capital after flows were disrupted last week. 

Mozambique has been wracked by the worst election unrest since the end of its 16-year civil war in 1992, after opposition leader Venancio Mondlane claimed victory in an Oct. 9 election that official results showed the ruling party won by a landslide.

The former lawmaker and pastor called for more demonstrations from Wednesday through Friday, urging supporters to paralyze Mozambique’s main trade corridors to pressure the authorities to restore what he called the true election result. 

The land border between Mozambique and South Africa, one of the busiest in the region that handles hundreds of trucks daily, has suffered repeated closures this month due to the unrest.

(Recasts lead with border being closed again)