Mozambique: Macau business group invests US$5.1 million in Mozambique

25 August 2008

Maputo, Mozambique, 25 Aug – In the first half of this year Macau invested US$5.1 million in Mozambican according to information from the Centre for Investment Promotion (CPI), the government institution that analyses and approves investments in Mozambique.

In the same period five investment projects from the People’s Republic of China were approved, with a total value of US$2.8 million.

Sources from the CPI told Macauhub that foreign direct investment in the first half of this year totalled US$152.8 million.

South Africa tops the list of biggest foreign investors, with US$60 million, applied to 30 projects.

In the same list Macau and China occupy the seventh and ninth places, respectively.

Portugal is ranked fifth with US$15.8 million, after Italy which had total approved investments of some US$26 million.

The CPI gave no indication of where the Macau investment came from, but banking sources said it related to an investment of Geocapital in Moza Banco, which opened last June in Mozambique.

Geocapital, a company owned by Stanley Ho and Jorge Ferro Ribeiro and based in Macau, owns 49 percent of Moza Banco. (macauhub)