The Maputo/Catembe bridge, due to be opened in the next few months in the Mozambican capital, is the project with the biggesting funding granted by China for the construction of infrastructure in the African country, the total amount of which exceeded US$2.28 billion from 2000 to 2014.
São Tomé and Príncipe and Cabo Verde (Cape Verde) are expected to lead economic growth in Portuguese-speaking Africa in 2018, followed closely by Guinea-Bissau and Mozambique, with Angola seeing the most modest forecasts for Gross Domestic Product (GDP) growth.
The business environment improved from 2016 to 2017 in all Portuguese-speaking countries, among which Cabo Verde (Cape Verde) was the best positioned and Angola the one that rose the most, according to the classification in the World Bank “Doing Business” report for 2018.
Brazil’s trade with African countries, which worsened in recent years after reaching a record high in 2008, is recovering, in a new diplomatic context, according to figures from the Brazilian Ministry of Industry, Trade and Services.
Mozambique, in coordination with the National Development and Reform Commission of China, is in an advanced process of evaluating priority projects already selected for further financing in the areas of infrastructure, energy, transport, agriculture and industrial parks, among others, the Mozambican ambassador to China has said.
The economies of the Portuguese-speaking countries, with the exception of Mozambique, recorded slight gains in the Global Competitiveness Index 2017-2018, released last week.
Tourism is growing significantly in Africa and Mozambique is one of the destinations that has benefited from the increase in the number of foreign tourists, according to figures released by the Euromonitor International consultancy.
US group ExxonMobil has acquired a stake in the operator of Mozambique’s northern Area Block 4, where its partners are Italian group ENI (35.7%) and the China National Petroleum Corporation (28.6%).
The Mozambican economy has been showing signs of revival, with the economy accelerating, the currency gaining value and international reserves being restored after a difficult year in 2016, analysts indicate.
Even after two central bank interventions, the Mozambican banking sector has shown itself to be quite flexible at a time when the country’s economy is undergoing a process of accelerated growth following the very difficult year of 2016, analysts indicate.
The availability of European funds to finance cooperation projects in Africa is large, but there is a lack of well-prepared projects, particularly in Portuguese-speaking African countries, according to the president of the Portuguese Development Finance Society (Sofid).
The role played by Macau as a platform in the relationship between China and Portuguese-speaking countries is viewed with renewed interest by economic agents due to the establishment in the Special Administrative Region of the headquarters of the Fund for Cooperation and the “Belt and Road” initiative drawn up by the central government of China.
The first of the two major natural gas projects will make Mozambique a major energy producer in the world, with Asia and especially China being the main market for the product.
The political and security situation has stabilised in Mozambique in recent months, but the financial situation is still very delicate and leads investors to view the country with concern, according to the Africa Monitor.
The projects that could transform Mozambique into one of the world’s largest producers of natural gas are about to begin, with some of the largest groups in the sector, such as the China National Petroleum Corporation, looking to Asia as the market for their products.
Angola and Mozambique are among the 10 tourist destinations that are expected to record greater growth in demand for leisure travel in the next decade, according to the latest report on the competitiveness from the World Economic Forum.
Continued low commodity prices have led countries such as Angola, Equatorial Guinea and Mozambique to place greater urgency on economic diversification, at a time when the industrialisation of Africa has the support of major international partners, especially China.
The isolationist trend in the foreign policy of the new US administration, particularly towards Africa, has led some analysts to predict that the Chinese “One Belt, One Road” strategy will take on an …
The International Monetary Fund (IMF) approved the Mozambique government’s policy to pay bilateral and multilateral loans and to fail to pay commercial debt related to US$2 billion in previously “hidden debt,” the Africa Monitor newsletter reported.
Portuguese-speaking countries should be the “stars” of economic growth in 2017 in Africa, a continent that is expected to see a slight recovery, according to the most recent economic forecasts from international institutions.