Browsing: Mozambique

• Tropical storm Ana in January 2022 affected 180,869 people, injured 207 people, killed at least 38 people and flooded a total of 70,982 hectares of land.
• In two weeks, Madagascar, the most cyclone exposed country in Africa, experienced both Ana and Batsirai cyclones.
• The strength of Cyclone Batsirai could increase and spread to other countries in the Southern Indian Ocean.

Several cyclones, from Cyclone Ana, Batsirai, Idai, Eloise, Kenneth and Tropical Storm Chalane, have tormented the southern part of the African continent – from South Africa, Mauritius, Madagascar, Mozambique, Malawi and Zimbabwe.
A cyclone is a tropical storm with heavy winds rotating inwards to an area of low pressure. An anticlockwise circulation occurs in the northern hemisphere, while a clockwise circulation happens in the southern hemisphere.
The frequent occurrence of these storms indicates the heightening effects of climate change in the southern region of Africa and the world at large. …

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Fintech startups in Africa have continued to gain a lot of attention from investors who have been pouring billions of dollars to support the industry. …

The Maputo daily Noticias wrote after the SADC summit that a budgetary allocation of US$29.5 million has been set aside for the three-month extension, after high-level consultations and this would mean until at least mid-April.

The SAMIM extension set from mid-January.

Addressing the opening session of the summit, the current SADC Chairperson, Malawian President Lazarus Chakwera, urged regional bloc member states to stick together and ensure that SAMIM remains multidimensional and comprehensive.…

Given that South Africa is experiencing similar power generation problems, Robertson believes that if Zimbabwe does not overcome its power difficulties, this will impede economic growth in 2021.

The mining and industrial industries will almost certainly curtail output.

Tax and export income will decline, as will employment growth. This is unfortunate because Zimbabwe wouldn’t be going through all this pain if it had started constructing new power plants earlier.…

Remittance flows to the Middle East and North Africa (MENA) region increased by 2.3 per cent to record about $5.6 billion in 2020 according to a report by World Bank.

The press release from World Bank noted that strong remittance flows to Morocco and Egypt strongly contributed to the growth.

In 2020, flows to Morocco rose to 6.5 per cent while flows to Egypt rose by 11 percent to record a high of nearly $20 billion. Tunisia also recorded an increase of 2.5 per cent.

According to the statement, other economies in the region experienced losses in the same period such as Iraq, Lebanon, Djibouti and Jordan which led to a double-digit decline.

With weak outflows from the Gulf Cooperation Council (GCC) countries and moderate growth in the Euro area, remittances are likely to grow in 2021 by 2.6 percent.

In the fourth quarter of 2020 the cost of sending …

African economies thrive on an abundance of natural resources. However, the financial resources needed to exploit these resources remain a major constraint in Africa. Foreign direct investments are playing a critical role in filling the capital gap in Africa as most governments run on budget deficits. 

Mozambique, a new investment hub, is booming with capital inflows in its energy sector. With its abundant natural gas resources, the country has positioned itself as a dominant energy investment hub in Southern Africa.

The Prospects

Massive natural gas reserves

Mozambique has a lot of proven natural gas reserves. It ranks 14th in the world in terms of its reserves. However, production for this energy resource is still very low as well as local consumption. This is a result of poor infrastructure development to extract the resource and also proving that the sector is still in its infancy stages. There is …

Mozambique—another African country endowed with plenty of natural gas reserves holding 100 trillion cubic feet (Tcf), has suffered another blow within the lucrative industry as security concerns forced French oil and gas giant company Total to postpone its work at a liquified natural gas (LNG) project in the country.

Internal conflicts have been occurring in Mozambique rather often. On March 27 Jihadis seized a town and allegedly attacked a convoy of fleeing civilians, which includes foreign workers, as fighting continued (Further Africa).

According to various media sources, including BBC, dozens of people are dead following an attack by Islamist militants on a town in northern Mozambique (Palma), where the LNG project is underway.

READ:Total’s Mayotte base not a threat to Mozambique’s Oil and Gas ambitions

According to information from Reuters, on Saturday Total said that none of the LNG project workers was among the victims.

However, according to BBC …

Oil and gas projects are very complex due to a variety of challenges that need to be overcome. Risk management and financial burden are some of the hottest issues currently on these projects.

Now imagine you add Covid-19 and insurgent movements near the project area.

“The French oil and gas company Total is considering setting up a logistical base for its Mozambican operations, not only in part of Mozambique, but on the French Indian Ocean possession of Mayotte, according to a report (…)” as per the digital news portal Club of Mozambique.

It shouldn’t come as a surprise at all.

Being part of the French territory, Mayotte offers the best option for Total as a preferential hub for their project in Mozambique. France operates a military base in Mayotte, in the form of a detachment of its Foreign Legion, making the island a super safe place.

Mayotte is very well …

For the past few years, the thoughts of BREXIT have been a constant part of my thoughts. As we approach the deadline, I have been looking closer into its aftermath and the consequences for Southern Africa.

I’ve acknowledged before and I will mention again the fact that the actions taken by the UK regarding Africa have been truly remarkable. The enormous effort that the government has and still is undertaking, in order to keep the UK a strong and competitive trade player in the continent are nothing short of extraordinary and we are already beginning to see results.

In a much-anticipated virtual visit to Mozambique last week, Her Majesty’s Deputy Trade Commissioner for Africa, Alastair Long held a number of meetings with some of the country’s senior government officials and key players in the private sector.

The meetings included the Ministry of Natural Resources and Energy Permanent Secretary H.E. …