Mozambique’s Zambézia province approves almost US$64 million in private investment in 2010

16 May 2011

Mopeia, Mozambique, 16 May – Private investment approved in Mozambique’s Zambézia province totalled over US$63.9 million in 2010 following the approval of six large projects in the agri-industrial and logging sectors, provincial governor Francisco Itai Meque said Friday in Mopeia.

During a visit by the Mozambican President to the province, the governor said that of the total investment approved, thus far US$12 million had been applied, and that the projects were expected to create around 2,500 jobs by 2014.

A report made public by Meque said that in 2009, for example, the province’s economic development was based on agriculture and livestock, which accounted for 70 percent of the total, followed by industry and fishing with 28 percent and transport and communications with the remaining 2 percent.

The provincial governor also noted a lack of rain in the 2009/2010 season which meant that rice and maize yields had fallen sharply, with maize totalling 350,000 tons compared to a projection of 470,000 tons and rice to 110,000 tons compared to an expected harvest of 180,000 tons. (macauhub)