South Africa is Mozambique’s biggest investor

27 January 2006

Maputo, Mozambique, 27 Jan – South Africa maintained its position in 2005 as the biggest foreign investor in Mozambique on doubling its investment from 2004, the director of Mozambique’s investment agency said Thursday.

Mahomed Rafique, director of Mozambique’s Center for Promotion of Investment, said that just 52 of the major project infrastructures generated investment of US$93.7 million in 2005.

Small tourism and commercial projects are not dealt with by the Center and are therefore not included in the figures.

In 2005, Rafique said, investment from South Africa accounted for 58 percent of total foreign investment, which stood at US$164.5 million, an annual increase of 34 percent.

South Africa’s biggest competitor was the United Kingdom, whose businesspeople presented 15 projects representing a total investment of US$27.8 million.

In 2005 Zimbabwe moved from seventh to third place on the list of biggest investors in Mozambique, while Portugal maintained its fourth place.

The largest increase was posted by China, which jumped from 25th to sixth position. Chinese direct foreign investment in Mozambique totaled US$5.6 million against US$292,000 in 2004. (macauhub)