French companies invest US$216 million in Mozambique

20 July 2015

The cumulative amount of direct investment from France in Mozambique totalled US$216 million and in 2014 the country was the tenth largest investor with five projects approved in the amount of US$13.6 million, said the French ambassador to Mozambique.

Ambassador Serge Segura said in remarks to three media outlets that many companies in his country know Mozambique and added that this year’s edition of the Maputo International Fair, taking place from 31 August to 6 September, will have a French pavilion.

Total was presented by the French ambassador as one of the French companies that had been in Mozambique for many years and that was interested in competing for new areas of hydrocarbon exploration in Mozambique.

Speaking about the official two-day visit to France that the President of Mozambique began Monday, the ambassador announced that the two countries would conclude an agreement to reduce Mozambique’s debt of US$17 million.

“For France, it is not possible to speak of economic relations with Mozambique without mentioning development issues,” said the diplomat, adding that the agreement would be accompanied by assistance to the Mozambican state budget and project support in the areas of the environment and professional qualifications.

During the visit of Philip Nyusi at the invitation of his French counterpart François Hollande, two other agreements are due to be signed, one related to the Franco-Mozambican Cultural Centre in Maputo and another that allows airlines from France and Mozambique to offer flights between the two countries .

The official visit of the President of Mozambique to France will focus on economic diplomacy, according to Segura, and Nyusi is expected to have “the opportunity to explain his policies and how Mozambique can welcome French companies.” (macauhub/MZ)