200 Mozambican companies gear up for the coal and LNG value chains

Login

Register

http://www.clubofmozambique.com/

200 Mozambican companies gear up for the coal and LNG value chains

3:16 CAT | 20 Jan 2020

File photo: TVM

At least 200 national companies are expected to participate in coal, oil and natural gas goods and services value chains in Mozambique, TVM reports, and to expedite this a business certification programme called PRONACER, funded in the amount of approximately US$500,000, is rolling out nationwide.

PRONACER is an initiative of the Confederation of Economic Associations of Mozambique (CTA), in partnership with the Foundation for the Improvement of the Business Environment (FAN).

The certification process for national companies takes place in a context in which the Mozambican government has already prepared a draft law on national content, to complement existing laws covering the subject.

Multinational companies involved in hydrocarbon research projects also have local content strategies aimed at building local capacity and developing successful national suppliers, boosting job creation and providing a wide range of goods, services and skills in compliance with international oil and gas standards.

In a recent report documenting the CTA’s achievements in the past two and a half years, the Mozambican Business Confederation says that, in the period under review, 41 companies were supported to the amount of 240 million meticais.

“Of this amount, which is part of an initiative called Special Fund for Financial Support to the Private Sector (FEREN) and which is being implemented by CTA in partnership with FAN and GAPI, around 74 million meticais are included to support the business sector in the context of post-cyclone Idai and Kenneth recovery,” the report reads.

In this regard, 28 eligible companies have been identified, of which 15 have already had their projects approved, the CTA notes.

“Six of these companies are in Sofala province, four are in Manica and five in Cabo Delgado,” the CTA document reveals.

Source: TVM