Investment opportunities abundant in Mozambique

Pretoria - The discovery of coal in Mozambique with an estimation of 23 billion tons has attracted foreign investors and also presents a great opportunity for South African firms.

Speaking at a trade and investment seminar in Mozambique on Tuesday, first secretary of the government of Tete province, Lina Portugal, said this discovery presents opportunities for South African companies.

This as the Department of Trade and Industry (dti) is leading a delegation on an Outward Trade and Investment Mission (OTIM) to Mozambique.

Portugal described Tete as a province that has two huge investment opportunities in the mining and farming sectors. She said the discovery of coal presented an abundance of mining opportunities, and that the strong agricultural sectors also presented a profusion of investment opportunities for business. According to Portugal, the fact that coal prices had gone down, should not scare off investors as this was a passing phase.

“Amongst vast challenges that Tete province is facing - which include infrastructure development, water and electricity distribution, transport, skills development and training, these present an investment opportunity to the South African firms,” said Portugal.

She highlighted that while the mining sector was a mainstay to economic development and offered huge opportunities; South African firms were also urged to explore opportunities in cattle, fish farming as well as tourism.

The Provincial Head of the Investment Promotion Centre in Tete, Leonardo Junior, said Tete province was strategic in that it gave access to three countries which are Malawi, Zambia and Zimbabwe.

He said South African firms should use this mission to interact with their counterparts in Tete and form partnerships in other investment sectors which include services, transport and communication, agro-industry and construction, among others.