Africa Focus: Mozambique discovers its way to being Africa’s power house
Mozambique has experienced growth rates of 7% in recent years, combine that with its political stability and recently discovered vast gas and coal resources, the country is destined to become Africa’s leading player in the power sector. This was explored in detail at the recent series of Africa Focus which featured Mozambique in the spotlight.
With a population of just over 25 million, the country has to offer an estimate 100 trillion cubic feet of recoverable off shore gas which could make it one of the world’s biggest exporter of natural gas and one of the richest countries in Africa! But Mozambique’s potential does not only lie in its natural resources.
Major infrastructure projects are underway which are said to act as a catalyst for investments in general. The Nacala corridor – lead by Vale and inclusive of railway and road developments, is one of the key projects which are currently in progress. There has also been a need to put up an airport in Tete which would replace the current one in Chingodzi.
The discovery of natural resources in Mozambique, particularly coal and gas, has led an increase in terms of economic activity and to the rise of a middle income class. This contributed to the development of various other sectors including banking, telecoms, consumer markets, hotels and real estate. Investors are aggressively also shifting direction to real estate projects.
H.E Fernando Fazenda, the High Commission of the Republic of Mozambique to South Africa graced us with his presence and reassured everyone in attendance of the stable investment opportunities that lie in Mozambique. Also in attendance was Mr Fausio Mussa, Chief Economist at Standard Bank, Mozambique. Mussa shared first-hand experience of Standard Bank doing business in Mozambique.
The Business Forum on Africa Intra trade is organised by the Southern Africa Zambia Chamber of Commerce and Industry in collaboration with its strategic partners Mail & Guardian, Africa Exchange, Africa Project Access, Watershed Global Institute and Freedom House.
The Forum will bring together captains of Industries Business leaders and experts from South African companies doing business in Africa, government officials from various African countries, non-governmental organizations focused on Africa’s development, researchers and the Media.
The Forum will provide a platform to highlight challenges and issues that are impacting Africa Intra Trade and will seek to create innovative keys to unlocking the trade barriers. The event will be a half day business forum, at KPMG, Wanooka Auditorium, 1 Albany Road, Parktown.
For more information, and to register for the event, please contact firstname.lastname@example.org