Charlestrong negotiates loan with Macau bank for projects in Mozambique

15 December 2015

Charlestrong Engenharia, Tecnologia e Consultoria Ltd de Macau is negotiating with banks in Macau and Portuguese-owned banks in Mozambique to secure loans for the construction of 35,000 homes in the West African country.

The information was provided by Afonso Chan, vice president of Charlestrong during a meeting on investment opportunities in Mozambique promoted by the Macau Trade and Investment Promotion Institute (IPIM) and the Macau Forum.

In February 2016, the Macau company will conclude the contract for construction of 240 apartments of the second phase of Vila Olímpica in Zimpeto in Maputo.

By 2019, over 35 000 homes will be built, with Chan noting that despite the success of negotiations for this new venture “there are some difficulties related to the lack of bilingual staff and with getting credit from banks.”

During the initiative, the executive member of the IPIM, Glória Batalha Ung, said that if the entrepreneurs needed financial support the organisation is available to provide support, in particular by establishing contacts with banks to recommend projects which might be financed.

Chan said that in addition to construction, Charlestrong would invest in the development of infrastructure, the energy sector and manufacture of building materials in Mozambique. (macauhub/MO)