US businesspeople want more security before investing in Mozambique

28 January 2019

Mozambique needs to accelerate the reconciliation process between ruling party Frelimo and opposition party Renamo and improve anti-corruption mechanisms to attract more investors and be more competitive in Africa, the United States embassy in Maputo said in Maputo.

Bryan Hunt said there are some points that must be overcome to improve the business environment, such as competitiveness, corruption and national security.

The 12th US-Africa business summit is scheduled for 18-21 June, with the Mozambican capital, Maputo, hosting the event, which is an opportunity for the Mozambican government to put the country on the African investment map.

“Mozambique is not Africa’s largest market, nor is it the most populous nor the fastest growing, so it has to be among the most competitive in order to succeed in transforming the potential that the summit offers in visible results for the Mozambican and American people,” said US embassy’s business attache, quoted by the Mozambican press.

Therefore, Hunt said, the Mozambican government and the private sector should launch sufficient reforms over the next six months to position themselves as a competitive and emerging investment destination ahead of the June summit.

The US official acknowledged that the progress that Mozambique has made in ending the long-running conflict between Frelimo and Renamo is “impressive,” but pointed out that American investors want more.

“Investors need to be assured that there is a real national effort to address and curb the recent violent extremism that has interrupted peace in the province of Cabo Delgado and to stem the influence and activities of organised criminal groups,” he said. (macauhub)