Mozambique ripe for SA investments

Mozambique ripe for SA investments


from ARMANDO DIMINGOS in Maputo, Mozambique
MAPUTO, (CAJ News) – MOZAMBIQUE believes the discovery of lucrative coal in the country has attracted a lot of foreign investors and presents a great opportunity for South African firms.

The country has discovered coal with an estimation of 23 billion tonnes.

The first secretary of the government of Tete Province in Mozambique, Lina Portugal, was upbeat while speaking at a Trade and Investment seminar held as part of the Outward Trade and Investment Mission (OTIM) on Monday.

Portugal described Tete as a Province that had two huge investment opportunities in the mining and farming sectors.

She said the discovery of coal presented an abundance of mining opportunities, and that the strong agricultural sectors also presented a profusion of investment opportunities for business.

“The fact that coal prices had gone down, should not scare off investors as this is a passing phase,” Portugal said.

She highlighted some impediments Mozambique faced.

“Amongst vast challenges that Tete province is facing – which include infrastructure development, water and electricity distribution, transport, skills development and training, these present an investment opportunity to the South African firms,” said Portugal.

She highlighted that while the mining sector was a mainstay to economic development and offered huge opportunities; South African firms were also urged to explore opportunities in cattle, fish farming as well as tourism.

The Provincial Head of the Investment Promotion Centre in Tete, Leonardo Junior, said Tete Province was strategic in that it gave access to three countries-Malawi, Zambia and Zimbabwe.

– CAJ News

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Posted by on Jun 16 2015. Filed under Coal, Energy, Finance, Finance & Banking, Mining, Mining & Engineering. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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