China continues to strengthen its position as the largest bilateral creditor of Mozambique and is expected to continue as such in the coming years, due to new credits being negotiated by the governments of the two countries, according to official figures.
The United Nations (UN) expects to remove Angola and São Tomé and Principe from the group of least developed countries (LDCs), according to the World Economic Outlook report.
Angola and Mozambique are among the African countries whose debt burden places them in a situation of financial risk, which may keep investors away, according to the World Bank.
Cabo Verde recorded the biggest economic growth among all the Portuguese-speaking African countries, as a new year is about to begin in which Mozambique is expected to see strong economic acceleration and a possible return to growth for Angola.
Guinea-Bissau, Cabo Verde and Mozambique are among the African countries that are most open, with regard to visas, to the citizens of other African states, according to the African Union (AU) and the African Development Bank (AfDB).
The Mozambican economy has continued to lose steam during the year, owing to the fall in commodities prices in international markets.
The implementation of the African Continental Free Trade Area (AfCFTA), which includes the Portuguese-Speaking countries, enhances the attractiveness of the continent for industrial investment from China, according to Jeremy Stevens, chief economist of the South African Standard Bank responsible for China.
Portuguese-speaking countries in Africa are “a hotspot for investor interest”, says Mateus Magala, Vice-president of the African Development Bank. According to the Mozambican national, “the time is now” to invest in these countries, because of economic reforms, a burgeoning middle class and regional diversity against the background of the new African Continental Free Trade Area.
Chinese group Huawei will increase its support for StartUP Portugal, the public company responsible for boosting young technology-based companies, under a partnership agreement recently signed in Lisbon.
Brazil and Cabo Verde were among the countries to introduce the most reforms throughout 2018 to improve their business environment, although this was not enough to prevent their decline in the World Bank benchmark index.
Macau has an important role to play as a “knowledge centre” in the Guangdong-Hong Kong-Macau Greater Bay Area (GBA) project, according to some of the leading Sino-Lusophone researchers.
As LNG projects in the north of Mozambique progress, the government faces two major hurdles: financially, to find capital for its share of the investment needed to develop the Rovuma basin world-class natural gas reserves, which could top US$1 billion; militarily, to ensure safety in Cabo Delgado province from Islamist insurgents. In both instances, Russia has come to the rescue.
Mining company Jinan Hi Tech will help bolster China’s presence in Mozambique’s graphite extraction and processing after receiving authorisation from China’s National Development and Reform Commission to buy a 34.01% stake in Australia’s Triton Minerals.
Angola and Mozambique are among the highest-risk African countries, albeit with an upward trend in returns for investors, according to the Risk-Return Index 2019, a study by consulting firms Oxford Economics and Control Risks.
Chinese telecommunications group Huawei is involved in the launch of 4G and 5G mobile network technologies in Mozambique and Cabo Verde, which are expected to help boost the economies of both countries.
Most Portuguese-speaking countries have fallen in the index of the recently published Travel and Tourism Competitiveness Report, with the exception of Portugal and Angola.
Mozambique, as one of the poorest countries in the world, can be considered lucky to have so many valuable natural resources on its soil. From coal and gas to precious stones and timber, it has many raw materials that are in big demand in the rest of the world. It is up to the private sector to develop the required export projects but the government has a big role to play.
Most African countries, including the Portuguese-speaking ones, have been facilitating the entry of Chinese citizens in their respective territories, the aim being to increase investment and tourism, indicates a study by the Migration Policy Institute
After many delays, 2019 has become the year when, finally, both liquified natural gas (LNG) projects in Cabo Delgado, in northern Mozambique, are underway. But a few challenges still remain before they become a reality and, in 5–6 years, Mozambique becomes Africa’s biggest LNG producer, exporting energy to China and other Asian countries.
The São Tomé Trade and Investment Promotion Agency (APCI) will follow up on potential deals that resulted from the meeting of entrepreneurs from China and Portuguese-speaking countries, said the director of the São Tomé and Príncipe agency.