In the forthcoming ten years, investments in Mozambique’s energy sector are expected to exceed USD$10bn, with multiple big players committing to large-scale investments:
- In the oil & gas sector, Anadarko LNG Plant has pledged US$20bn to its liquefied natural gas (LNG) project
- Standard Bank and ICBC are investing USD$8bn in the Coral FLNG project
- A Sasol-led consortium is investing USD$1.4bn in a new production plant
- Capitol Resources is investing USD$20 million in a mining contract and iron and steel plant
- Heineken has invested US$100m in a new brewery
- Scatec is starting construction on a new large-scale power plant, with total investment of around USD$80m
- There’s a Macuze railway line in the works, valued at USD$2bn
On 22 March the inaugural Mozvest Conference will be held, highlighting the critical investment opportunities available in Mozambique in the fields of oil, gas and key associated sectors. Committed to unlocking the country’s rich natural resources and human capital, the conference boasts an impressive speaker line-up including Dr Thomas Salomáo, former Executive Secretary of the Southern African Development Community (SADC) and current Chairman of Standard Bank Mozambique;Omar Mitha, the current chairman of the National Enterprise of Hydrocarbons (ENH),Carlos Zacarias, the current Chairman of The National Petroleum Institute(INP); Abdul Razak Noormahomed, Governor of Zambezi Province; and Lourenço Sebastião Sambo, Director General of the Investment & Export Promotion Agency (APIEX).
Cristovao Gemo, Consul General of the Republic of Mozambique in Cape Town, says, “Mozambique has always served as a desirable investment hub in the SADC countries and the relationship between Mozambique and South Africa is an important one for both nations. Mozvest aims to highlight upcoming opportunities across all Mozambique’s major industries, with an especial emphasis on oil and gas. We’ve lined up some of the continent’s foremost experts from both countries and look forward to welcoming preeminent investors and experts to the event.”
With peace re-established, the country‘s macro-economic stability is secure, and Mozambique’s world-class endowments are creating attractive destinations for investment. At the conference, all opportunities will be explored, with advice on upcoming opportunities, benefits and success stories, prospective challenges and agile strategies in terms of finances and legalities.
The primary focus will be on oil and gas, looking specifically at how to foster synergy between Mozambique as an economic frontier and SA as a mature economic force. Deloitte’s 2016 Mozambique Economic Update found that Mozambique received USD$3.1bn in FDI – the sixth largest in Africa – with the largest in-flows (29%) from SA. This symbiotic relationship is beneficial for both nations, fuelling positive relations and growth within SADC.
Along with oil and gas, energy will also be a focus as Mozambique has Africa’s third largest amount of proven natural gas reserves, which presents tremendous investment opportunity. Additionally, agriculture has much potential for investors with the Zambezi River and lush, diverse soils catalysing optimal conditions for a large variety of crops. In terms of mining, Mozambique has vast untapped mineral reserves, with investment prospects in exploration, extraction, processing and utilisation. Coal is the country’s primary mining commodity, with other resources including gold, graphite and precious stones.
Logistics will also be expanded upon, along with tourism – the most recent World Economic Forum report on competitiveness called Mozambique one of the top ten tourist destinations that’s expected to record greater growth in demand for leisure travel in the next decade. With pristine beaches and famed hospitality, Mozambique has all the makings of the next ‘Reunion’ or ‘Seychelles.’
The conference will elaborate on all fields of prospective investment whilst also providing ample time for networking with some of Africa’s most preeminent individuals along with international guests. The event will culminate with a grand gala dinner.
The conference will be held at Lagoon Beach Hotel, Cape Town on Wednesday, 22 March 2018. For a full itinerary, list of speakers, and to buy tickets, visit Mozvest.com.