Browsing: energy economy mozambique

Maputo,,,City,Of,Mozambique
  • Agro-business has emerged as one of the most promising fields, whether for small or large enterprises, due to the chronic shortage in food production in the nation. 
  • The estimated 70% gap in energy access in Mozambique creates a market that is drawing more attention from renewable energy investors
  • Financial markets are showing promise of good returns, including forex and cryptocurrencies

The World Bank projects Mozambique will grow by 5.7 percent between 2022 and 2024 driven by increased demand post-pandemic and the start of LNG production. This is expected to stimulate other sectors including extractives, services and boost exports.

Analysts agree that transportation and logistics, energy, ICT, capital markets, agribusiness, banking, insurance, and textiles provide enormous potential for commercial success in Mozambique.

Pedro Correia, Country Manager of Flying Submarine, says a number of sectors are ripe for investment and growth due to the changing business and regulatory environment.

Yet, there is …

coral gas field Mozambique

After a substantial decline in 2021, Mozambique’s GDP is expected to recover to 4.5% at the closing of 2022 and potentially expand to 5.1% in 2023.  The impact of the Covid-19 pandemic, extreme climactic events and jihadist insurgency in the north of Mozambique were the driving factors of the contraction in the economy.

As a consequence of violence in the northern gas-rich province of Cabo Delgado, French energy firm TotalEnergies, declared force majeure at its Area 1 site in May 2021, after an attack on a nearby town. Several mines and other businesses in the province have also suspended operations following recent attacks.

Over the course of 2022, the prospects of the TotalEnergies improved, owing to territorial gains made near the site.  The decrease in insurgency and piracy has been seen as a major setback for rebels. The progress on security is thankful to a combined military intervention from defense …