While new coal and LNG port terminals in the northern half of Mozambique attract most international attention, the port of Maputo continues to grow rapidly. The more northerly projects are designed to handle domestic exports but, in contrast, Maputo has managed to regain its historic role as an important entrepôt for South African trade.
The ports of Mozambique, Angola and São Tomé and Principe will be linked to the Chinese “´Belt and Road” initiative, which will have a “central hub” in East Africa, wrote researcher Paul Nantulya.
Credit and other institutions legally authorised to receive deposits in Mozambique have until 31 July to adopt new information rules decided by the country’s central bank.
The Portuguese-speaking countries (PSCs) will play a key role in the future of Macau outlined in the Greater Bay Area (GBA) Plan of the Central Government of China.
Mozambique has exceeded expectations in terms of global connectivity, according to the latest ranking by multinational DHL, in which Timor-Leste was the only Portuguese-speaking country included to increase competitiveness compared with the previous year.
The African Development Bank (AfDB) recommends coastal African countries, including Portuguese-speaking countries, to expand port infrastructure as a means of improving integration on the continent.
The World Bank has revised its economic growth forecasts for Angola, Cabo Verde (Cape Verde) and Mozambique in 2019 and 2020 upwards, unlike Guinea-Bissau.
The government of Mozambique has been involved in the last few weeks in intense negotiations with seven countries to secure funding for one of its largest natural gas projects and overcome scepticism about whether it will honour its debt commitments. The Rovuma Area 1, in the Rovuma Basin, involves an estimated investment of US$25 billion.
The extractive industry has been boosting Mozambique’s economy and will increasingly do so with the start of natural gas exploration in 2023, but the country needs a broader growth model, according to the World Bank.
China and the Portuguese-speaking countries were linked in 2018 by a number of new ventures, and the process of getting closer continues in the new year under the New Silk Road.
Cabo Verde (Cape Verde) is in the top three countries in sub-Saharan Africa with the highest quality public policies and institutions, according to a list drawn up by the International Development Association (IDA) of the World Bank Group.
Brazil, Mozambique and Cabo Verde (Cape Verde) have fallen back a few places in the latest edition of the Global Competitiveness Index of the World Economic Forum, in which Angola is in the lowest position among Portuguese-speaking countries.
The Minister of Industry and Commerce of Mozambique, Ragendra de Sousa, at the 2018 edition of the Macau International Fair (MIF), called on China to invest in his country, in areas ranging from agriculture to forestry to infrastructure projects.
Economic relations with Africa have been losing importance for Brazil’s governments, which ignore the continent’s potential, unlike China and other emerging economies, according to the Brazil-Africa Institute.
Macau’s Banco Nacional Ultramarino (BNU) is looking to increase support for the more than 40,000 small and medium-sized enterprises (SMEs) in the territory, said Carlos Cid Álvares, the bank’s chief executive told the Tribuna de Macau newspaper.
The World Economic Forum last year forecast that Angola, alongside Mozambique, would be among the ten fastest growing leisure tourism destinations worldwide over the next decade.
Entities from Mozambique and China on Sunday in Beijing signed eight memoranda of understanding in the areas of infrastructure, industry, telecommunications, agriculture and financial services, during a business forum opened by Mozambican President Filipe Nyusi.
China Railways has proposed the construction of a rail link connecting Mozambique to Zimbabwe via Zambia, a project costing an estimated US$2.5 billion that will give companies in the latter two countries easy access to Mozambique’s ports.
Loans granted by China have become increasingly important in the maintenance and construction of roads in Mozambique and are expected to account for 53% of external financing in the road sector in 2018, the local press reported.
The civil aviation sector in Mozambique, which is in the process of liberalisation, as of the end of August will have new competition rules, under legislation recently approved by the government.