China largest investor in Mozambique in first half of 2016 – US$154 million

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China largest investor in Mozambique in first half of 2016 – US$154 million

7:55 CAT | 12 Aug 2016

China was by far the largest foreign investor in Mozambique in the first six months of this year, according to figures published by the Investment Promotion Centre (CPI). Its investment of US$154 million represents over half of the country’s total foreign direct investment (FDI) during the period.

The next biggest investor was South Africa with 45 million dollars, followed by Mauritius (US$29 million), Britain (US$22 million ), and Portugal (US$14 million).

The figures revealed a sharp fall in the level of planned investment, down by 48 per cent compared with the same period last year. This year’s US$478 million of investment was composed of US$304 million in foreign direct investment, US$52 million in national direct investment, and US$122 million in loans.

All forms of investment were hit, with a decline of 54 per cent in foreign direct investment and a drop of 56 per cent in national investment.

Notably, Portuguese investment in Mozambique fell from US$70 million in the first half of 2015 to just US$14 million this year.

About 80 per cent of foreign investment during the period was destined for the construction sector, industry, agriculture, and agribusiness. Over half of the funds will be invested in Maputo province and the capital city, with 21 per cent going to the central province of Sofala.

Source: AIM