South African business owners invest over US$2 billion in Mozambique

12 June 2006

Cape Town, South Africa, 12 June – South African business owners have invested over US$2 billion in Mozambique in the last ten years, the representative of Mozambique’s investment promotion agency in South Africa, Godinho Alves told daily newspaper Notícias.

Alves told the paper that in the last decade South Africa’s businesspeople have seen Mozambique as a preferential target for their investments.

“We have South African investment in tourism and hotels and commerce and development of infrastructures and, although some of the investments are not aimed at responding to Mozambique’s needs, the Center already has some proposals for the agricultural sector,” Alves said.

Alves added that most South African investments had been small and medium-sized and that they were focused on the tourist areas in the South of the country.

He also said that the Mozambican government was looking to attract South African investors to the center and north of the country, as well as its interior, in order to develop tourism.

“The tourism sector is an area with great potential not only in the south, but in the north as well. At the moment, we are trying to show investors that there are goods areas for tourist development not only along the coast, but also in the interior,” he said.

Alves also said there were many companies in Mozambique in the area of contractors, which have identified South Africans as preferential partners for construction of infrastructures such as roads, bridges and other large projects underway in the country. (macauhub)