Mozambique: Potential investors should draw up calendar

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Mozambique: Potential investors should draw up calendar

8:40 CAT | 12 Nov 2019

Photo: Twitter

Potential investors are reacting positively to the proposals presented by the Mozambican government at the Second Africa Investment Forum currently under way in Johannesburg, according to Prime Minister Carlos Agostinho do Rosario, but he believed a calendar for implementing agreements reached must be drawn up.

“We think we shall leave here with a good indication”, Rosario said. “We are telling our partners to draw up a calendar, saying how things will happen from the commitment to the implementation phase. We want concrete results”.

“So far we are satisfied”, added the Prime Minister summarising the first day (Monday) of this event organised by the African Development Bank (AfDB).

On Monday, Mozambique had presented several projects for financing in areas such as natural gas and agriculture (notably the value chain for cotton production).

Prior to the start of the Forum, Rosario took part in a panel where he explained the various liquefied natural gas (LNG) projects in the Rovuma Basin, off the coast of the northern province of Cabo Delgado.

He admitted that Cabo Delgado, where a low level islamist insurgency is under way, faces security problems, but assured his audience that the government is attentive to the situation and the defence and security forces are on the ground to guarantee public order and tranquillity.

“Our defence and security forces, supported by the communities and by regional consultations, has taken a holistic approach to the problem”, he said. They had also been supported by the oil and gas companies involved in the LNG projects (Anadarko, Occidental and Total)

Rosario expressed the government’s commitment to mobilise 1.3 billion US dollars for the participation by the National Hydrocarbons Company (ENH) in the consortium formed to exploit the LNG from Offshore Area One of the Rovuma Basin.

As for macro-economic stability, Rosario stressed that in recent years the country has experienced low inflation and stable exchange rates.

After facing a range of external and internal shocks, he added, the country had brought annual inflation down from around 26 per cent (in early 2017) to about two per cent today.

“We are committed to maintaining these levels of inflation”, Rosario said, “since they will be good for the gas and other projects”.

“In #Mozambique, we have 3m hectares of land and want to modernize our #agriculture. We do not sell land for #agriculture, it is concessioned for 50years” – Prime Minister of Mozambique; Carlos Agostinho Do Rosario, representing the President @FilipeNyusi #AfricaInvestmentForum pic.twitter.com/GWdNkLJ3xB

— AGROAFRICA (@AgroAfricaMag) November 11, 2019