Mozambique: Government expects debt service to pressure accounts until 2028
President Chapo holds meeting with Mitsui CEO
1:10 CAT | 22 Aug 2025
Photo: Presidency
The President of the Republic, Daniel Francisco Chapo, met Kenichi Hori, president and Chief Executive Officer of Mitsui, in Yokohama, Japan, this Thursday.
The meeting was held on the sidelines of the 9th Tokyo International Conference for Africa’s Development (TICAD 9). Discussions focused on ongoing investments and future opportunities to consolidate Mozambique as a leading energy and logistics hub in Africa.
On the occasion, the Mozambican head of state highlighted Mitsui’s relevance to the national economic landscape, recalling the company’s participation in key projects. “As you know, Mitsui is in Mozambique with several investments. You are very familiar with the Combined Cycle Power Plant in Maputo. Mitsui is involved. We also have the Nacala Logistics Corridor, with Mitsui’s participation. We also have the Mphanda Nkuwa project that is currently underway,” he stated.
President Chapo also mentioned Mitsui’s presence in the natural gas (LNG) sector, with a significant share in the Area 1 project. “And Mitsui has about 20% of the Area 1 project, which is led by Total, in the Rovuma Basin. That’s why we felt it was important to have this meeting, to be able to discuss these and other future projects,” he said.
The head of state also highlighted the potential of the Nacala Corridor as a strategic hub for the transport of critical minerals from neighbouring countries. “The Nacala Corridor can extend to the hinterland countries. I’m talking about Malawi; it can extend to Zambia, it can extend to southern Congo. And we believe it’s an area with critical minerals that can be transported from the Nacala Corridor,” he emphasized.
In the energy sector, the President of the Republic highlighted the government’s vision of leveraging the country’s natural resources and privileged geographical position to meet the region’s needs. “We want to move forward with the second phase of the HCB [Cahora Bassa Hydroelectric Plant], but we also want to move forward with Mphanda Nkuwa, and you know very well that we have the gas. We are building several power plants […], and we believe that with Rovuma gas we can build more power plants in Mozambique,” Chapo stated.
At the same time, the president emphasized the commitment to renewable energy, harnessing solar and wind power.
According to the head of state, Mitsui demonstrated its willingness to align itself with this strategic vision. “We also expressed our vision to Mitsui as a strategic partner for Mozambique’s development, that we share this vision, and the President of Mitsui showed great interest,” Chapo said.
President Chapo reinforced that the ultimate goal of the cooperation is to improve the living conditions of the Mozambican population. “With Mitsui already in Mozambique, we will develop projects together, we will continue to discuss, and, who knows, in the future we can bring all these projects to fruition, develop Mozambique, and create better living conditions for the Mozambican people,” he emphasized.
In turn, the Mitsui president and CEO praised the meeting’s management and reiterated the company’s commitment to maintaining and expanding investments in the country.
“It was a very productive meeting. We greatly admire President Chapo’s leadership and discussed ongoing projects. We look forward to stronger ties between Mozambique and Japan and Mozambique’s great growth story,” Kenichi Hori said.
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