Mozambique’s Tete set for economic boost

Mall underconstructionBy TINTSWALO BALOYI
JOHANNESBURG, (CAJ News) – TETE in Mozambique is set to receive a major economic boost with an exclusive mall scheduled for opening before the end of the year.

South African-based property development company, Terrace Africa, is establishing the facility.

The firm confirmed Shoprite, South African-based grocery store, as their anchor tenant.

The new Shoprite store will feature a full selection of groceries and fresh produce as well as a bakery, deli, butchery and liquor offering. The development will also include fashion, furniture and banking services.

“We are thrilled to bring this new shopping experience to Tete. The project has already provided jobs to the local community and we are confident that it will encourage further investment in the town,” said Sean Oberholzer, Development Manager for Terrace Africa.

He outlined the property development company’s future investment plans.

Terrace Africa’s strategy is to build convenience type retail shopping centres across Mozambique, Zimbabwe and Zambia.

“We focus on smaller towns where we are able to make a difference to the communities and bring new concepts and products to market, we are enthusiastic about the opportunities that exist in Mozambique as it suits our investment profile,” said Oberholzer.

Terrace Africa is a property developer with active projects in Mozambique, Zambia and Zimbabwe.

Tete town, with an estimated population over 250 000, is positioned between Zambia, Zimbabwe and Malawi making it a strategic transport and logistics hub.

The area is expected to receive another boost later this year when the new rail corridor to Nacala is officially opened.

Further to this, a new coal fired power station is in a very advanced planning stage.

CAJ News

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Posted by on Aug 20 2015. Filed under Construction, Featured, Finance, Investing, 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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