SA business head to Mozambique for investment opportunities

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A group of South African business people representing 35 companies is expected to travel to Mozambique in search of investment and trade opportunities, the trade and industry department said.

The group will be participating in an Outward Trade and Investment Mission to Pemba and Maputo organised by the trade and industry department from 24 – 29 November

The trip’s objective is to increase bilateral trade and investment between South Africa and Mozambique by exposing South African companies to available opportunities in Mozambique. Nomalungelo Gina Trade and Industry Deputy Minister will lead the mission.

According to the department, the specific focus of the mission will be on designated industrial and infrastructure projects as stated in the memorandum of understanding (MoU) on economic cooperation between the two countries.

Keitumetse Moumakoe, the executive director of the Steel Tube Export Association of South Africa, said his main objective for travelling to Mozambique is to identify tubular products that South African manufacturers can supply to the gas exploration projects in Mozambique.

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“We are also looking for possible opportunities for investment and partnerships with Mozambican companies that are also gearing themselves to take part in energy projects. Our goal is to see South African steel tube products being exported to Mozambique for use in the projects. The mission provides us with a chance to market our steel tube material to the engineering, procurement, and construction management companies that are in charge of those energy projects,” said Moumakoe.

The export manager of Clotan Building Systems, Jardus Smith said Mozambique will be introducing one of the biggest liquefied natural gas projects in Africa, LNG project. He said that the LNG project implementation would create other projects which will provide unlimited opportunities for companies in their field to take advantage of.

Mozambique is South Africa’s third-largest trading partner in Africa with total trade between the two countries growing from an estimate of $2.6 billion in 2013 to an estimate of $3.5 billion in 2018.

South African companies, state-owned enterprises (SOEs) and small, medium and micro enterprises (SMMEs) have invested over $6.1 billion across many sectors in Mozambique between January 2003 and March 2019.

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